Deribit’s Dubai Unit Receives 'Conditional' Virtual Asset Service Provider License

Deribit FZE, an entity owned by crypto derivatives platform Deribit, has secured a conditional virtual asset service provider from the Dubai virtual assets regulator. The license, which covers spot and derivative trading, will remain non-operational until Deribit meets the regulator’s localization requirements.

Meeting Dubai’s Localization Requirements

Deribit FZE, a wholly owned entity of the crypto derivatives platform Deribit, has received a conditional virtual asset service provider license from Dubai’s Virtual Asset Regulatory Authority (VARA). However, the license, which covers spot and derivative trading, will remain non-operational until Deribit meets the regulator’s localization requirements.
In a statement, Deribit announced the relocation of its global headquarters to Dubai and the appointment of Luuk Strijers as the platform’s new CEO. Deribit said it will work closely with VARA to complete the remaining regulatory steps before officially launching the exchange.
Once operations commence, Deribit will serve institutional and qualified investors, as well as a retail client base, from its broker affiliate in Panama, the statement said. However, the statement does not reveal the expected launch date or the terms.

Deribit Appoints Non-Executive Directors

Commenting on the announcements, Strijers, who served as the platform’s Chief Commercial Officer before his promotion, said:

Being appointed CEO at this crucial time is a huge honour. VARA’s progressive regulatory framework opens up vast opportunities in the digital asset realm. Our strong position in the crypto options market reflects the trust our clients have in us. I’m thrilled to work with our loyal clientele and drive Deribit’s innovation, as we continue to lead in the evolving crypto marketplace.

In addition to Strijers’ promotion, Deribit has announced the appointment of two non-executive directors, Dennis Dijkstra and Willem Meijer. According to the statement, Meijer and Dijkstra, who is the former CEO of Flow Traders and an industry veteran, will provide advice on the company’s long-term growth strategy.
John Jansen, co-founder of Deribit, said that securing the conditional Virtual Asset Service Provider (VASP) license from VARA underscores the platform’s “unwavering commitment to providing a secure, transparent, and innovative platform for our users.”
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