• The VASP license obtained by Deribit in Dubai will not be active until all requirements are met.
• The global headquarters of Deribit has been relocated from Panama to Dubai.

A leading player in cryptocurrency options and futures, Deribit is transferring its operations to Dubai following approval from regulators in the region. On April 2, Deribit announced that its Dubai subsidiary, Deribit FZE, has been granted a VASP license by the Virtual Asset Regulatory Authority (VARA) of Dubai.

With this new license, Deribit is now authorized to offer spot and cryptocurrency derivatives trading in Dubai, including futures, options, and similar products. However, the VASP license will not be operational until Deribit meets all necessary requirements and complies with VARA's specifications.

The exchange is set to share more information about the launch, conditions, and start date of operations under the new licensed entity soon.

Following the launch, Deribit will focus on serving institutional and accredited investors in Dubai. Their broker affiliate in Panama, which is part of Deribit FZE in Dubai, will continue to serve retail customers until further notice.

In addition to obtaining the license, Deribit has appointed Luuk Strijers, its former chief commercial officer, as the new chief executive officer and moved its global headquarters from Panama to Dubai.

Co-founder John Jansen emphasized that acquiring the VASP license from VARA is not just a regulatory milestone but also demonstrates the company's commitment to providing a secure and transparent trading platform. By establishing operations in Dubai, Deribit aims to expand its presence and solidify its position as the preferred trading platform.

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