Deribit Receives Regulatory Approval in Dubai and Relocates Headquarters
Deribit, a leading player in the crypto derivatives market, has achieved a significant milestone by securing a conditional Virtual Asset Service Provider (VASP) license from Dubai's Virtual Asset Regulatory Authority (VARA).
This marks a groundbreaking development as Deribit becomes the first crypto derivatives exchange to obtain regulatory approval in Dubai.
The VASP license encompasses both spot and derivatives trading activities, subject to the fulfillment of specific conditions and final operational approval, anticipated to be completed soon.
In tandem with obtaining regulatory approval, Deribit is embarking on a strategic relocation of its global headquarters to Dubai, United Arab Emirates. This move underscores Deribit’s commitment to expanding its presence in the region and catering to the burgeoning demand from institutional investors seeking exposure to digital assets.
Meanwhile, retail services will remain accessible through Deribit’s established broker affiliate in Panama, ensuring continuity of services for retail investors.
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As part of its leadership transition, Luuk Strijers, the current chief commercial officer, has been appointed as the new CEO of Deribit. Alongside Strijers, industry veterans Dennis Dijkstra, former CEO of Flow Traders, and Willem Meijer, will assume roles as non-executive directors.
Their wealth of experience and strategic insights are expected to fortify Deribit’s long-term growth strategy and consolidate its position as a leading player in the crypto derivatives market.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
