Deribit, the world’s leading crypto derivatives exchange, has achieved a significant milestone by receiving a conditional Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA). This makes Deribit the first crypto derivatives exchange to obtain regulatory approval from VARA, signaling a positive development for both the firm and the broader crypto community.
The VASP license, covering virtual asset exchange services for both spot and derivatives trading, is subject to specific conditions and final operational approval. The official launch will take place once all formal steps are completed and full VARA approval is obtained.
In addition to this, Deribit has announced plans to relocate its global headquarters to Dubai, United Arab Emirates. This move aims to offer crypto services to institutional and qualified investors as the firm commences corporate operations in Dubai. Meanwhile, services for retail investors will continue through a broker affiliate in Panama, which is a member of Deribit FZE in Dubai.
Luuk Strijers, the current chief commercial officer, has been promoted to the position of CEO of Deribit. Additionally, industry veterans Dennis Dijkstra and Willem Meijer will join as non-executive directors, bringing valuable expertise to advise on the company’s long-term growth strategy.
Commenting on the regulatory achievement, Luuk Strijers emphasized the opportunities presented by VARA’s progressive regulatory framework and expressed confidence in Deribit’s position in the crypto options market.
These developments not only validate Deribit’s leadership in the crypto derivatives space but also signal a positive step towards greater institutional adoption of crypto assets.
