Recently, Deribit FZE, the Dubai arm of Deribit Group, received a conditional license from Dubai's Virtual Asset Regulatory Authority (VARA) for virtual asset services. This license covers spot and derivatives trading but will remain inactive until all requirements set by the regulator are met.

This milestone establishes Deribit as the first derivatives exchange to gain VARA's approval, highlighting its leadership in the crypto derivatives market. Moving forward, the platform aims to enhance its market presence and credibility by complying with Dubai's regulatory standards.

In a strategic move, Deribit has relocated its global headquarters from Panama to Dubai. Once operational, the platform will cater to institutional and qualified investors in the region while continuing to serve retail clients through its Panama-based affiliate. Despite the headquarters shift, Deribit still needs to fulfill certain criteria before launching its operations in Dubai.

Furthermore, Luuk Strijers has been appointed as the new Chief Executive Officer, succeeding his role as Chief Commercial Officer since 2019. Alongside this appointment, two Non-Executive Directors have been named to support the platform's growth.

Strijers expressed enthusiasm about his new role, emphasizing the vast opportunities presented by VARA's regulatory framework and Deribit's strong market position in the crypto options sector. He looks forward to collaborating with clients to drive innovation and maintain the platform's leading position in the crypto industry.

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