Deribit’s Dubai Expansion and Licensing
Deribit, the world’s largest crypto options exchange, has announced significant developments in its operations:
- Deribit’s Dubai-based subsidiary granted a conditional virtual asset service provider license by VARA
- License covers spot and derivatives trading, pending fulfillment of requirements
- Global headquarters relocation to Dubai and new CEO appointment
- Appointment of two non-executive directors to bolster leadership
Operational Status and Institutional Focus
Deribit is working closely with VARA to finalize formalities for the launch of its Dubai exchange:
- VARA’s licensing process includes stages from provisional permit to full market product license
- Upon operational status, Deribit will cater to institutional and qualified investors
- Existing retail clientele to be served through Panama broker affiliate
EU Brokerage License and Market Expansion
Deribit aims for further growth and market diversification:
- Over 85% dominance in digital asset options market
- Expansion of options offerings to include Solana, Polygon, and Ripple
- Pursuit of EU brokerage license for European expansion
In this article:
Written By
Ian Bennett
Ian is a cryptocurrency enthusiast blending humor with professionalism. With an engineering background and a storyteller's heart, he simplifies the blockchain world with sharp analysis and a touch of wit. At Cryptowire, he brings his unique perspective to make digital financial innovation accessible to all.
Click to comment
