Kemet, a New York-based and Egyptian-founded crypto infrastructure startup, has partnered with Coinbase, the largest cryptocurrency firm in the United States, to simplify access to its derivatives products.
The deal will enable institutional clients to access Coinbase’s four trading venues—Coinbase Exchange, Coinbase Derivatives Exchange, Coinbase International Exchange, and Deribit—through a single platform.
As part of the deal, Kemet has also raised an undisclosed investment from Coinbase Ventures, the venture capital arm of the US firm. The move underscores the growing significance of crypto derivatives, as more local and international institutions push into the asset class.
Africa’s largest cryptocurrency markets, including Nigeria, South Africa, Ethiopia, Kenya, and Ghana, received a combined $182.1 billion in crypto value between July 2024 and June 2025, according to blockchain analytics firm Chainalysis, a 72% increase from the same period the previous year, highlighting the depth of retail crypto usage across the continent.
However, institutional-grade derivatives trading remains limited on the continent, held back by regulatory gaps and shallow market infrastructure.
“Coinbase has effectively [combined] options, perpetuals, dated futures, and spot [trading] all under one single household and one name—which is a blue-chip name in the industry,” Ash Ashmawy, Kemet chief executive and founder, told TechCabal.
“That means [Coinbase] will want to unlock very advanced institutional experiences on top of [its] stack, and we are happy to be chosen as a partner to build these experiences for [Coinbase’s] clients.”
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