(Bloomberg) -- Coinbase Global Inc. Chief Executive Officer Brian Armstrong said the largest US crypto exchange continues to look at mergers and acquisitions, following its $2.9 billion agreement to buy the derivatives exchange Deribit earlier this month.

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“We are always looking at M&A opportunities,” Armstrong said on Bloomberg Television Wednesday. “We have a large balance sheet that can be put to use. Part of the benefit of being a public company is, you have a liquid currency to do that. We are looking at acquisition opportunities, doesn’t mean we swing at every pitch. We want it to be the right opportunity.”

Armstrong said he is looking particularly at international opportunities, “companies that think similar” and can accelerate Coinbase’s product development and growth. When asked if Coinbase may consider acquiring stablecoin issuer Circle, which Coinbase already has a revenue-sharing agreement with, Armstrong said he has “nothing to announce today.” Crypto company Ripple had offered to buy Circle, but its bid was rejected as too low, Bloomberg reported earlier. Circle has filed to go public.

Coinbase has always been highly acquisitive, and one of the top dealmakers in crypto. Earlier in May, Coinbase agreed to acquire Deribit, the world’s largest exchange for Bitcoin and Ether options. The transaction consisted of $700 million in cash and 11 million shares of Coinbase stock, subject to customary purchase price adjustments, the company said.

Next week, Coinbase will join the S&P 500 index. The company’s shares surged 24% following the announcement that it would be included. Coinbase is up about 4% this year.

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