Coinbase, America's largest crypto exchange, on Thursday announced that it has agreed to buy digital assets options exchange Deribit.

The San Francisco, California-based company didn't mention the value of the deal in a company blog post.

But executives told The Wall Street Journal on Thursday that the transaction was valued at $2.9 billion. The $2.9 billion deal price consists of $700 million in cash and 11 million shares of Coinbase Class A common stock, the companies said.

This is a breaking news story.

Edited by Stacy Elliott.