Deribit FZE, the Dubai-based arm of the leading crypto derivatives platform Deribit, recently announced a major development in its operational framework.
The firm has successfully secured a conditional Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA), marking a significant regulatory achievement.
This conditional license is a pivotal step for Deribit, enabling it to offer Virtual Asset Exchange Services that encompass both spot and derivatives trading.
However, it’s important to note that the license is non-operational at this stage.
Deribit must meet additional requirements set forth by VARA to activate its license fully.
This announcement also coincides with Deribit’s strategic decision to relocate its global headquarters to Dubai, underlining the region’s growing importance in the global digital assets landscape.
The platform’s commitment to compliance and regulatory approval underscores its dedication to providing a secure and transparent trading environment.
Luuk Strijers, who recently stepped into the role of CEO after serving as the Chief Commercial Officer since 2019, expressed his honor in leading the company through this pivotal period.
With nearly two decades of experience, Strijers is poised to leverage his deep expertise in product development and client engagement.
He stated, “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 line with these developments, Deribit has also enriched its leadership team with the addition of two new Non-Executive Directors (NEDs), Dennis Dijkstra and Willem Meijer, tasked with advising on the company’s growth strategy and maintaining its leading position in the industry.
John Jansen, the co-founder of Deribit, commented on the significance of these milestones, highlighting the license as a testament to Deribit’s commitment to excellence and security.
He further elaborated on the strategic move to Dubai, emphasizing it as a crucial step in expanding their reach and continuing to be the preferred platform for traders.
Jansen’s remarks encapsulate the company’s ambitious vision and its role in shaping the future of cryptocurrency trading: “As we anchor our operations in Dubai, we’re not only extending our reach but also reaffirming our resolve to remain the platform of choice for trading.
“This is a giant stride towards realising our ambitious vision, and it invigorates our journey in steering the crypto industry to new horizons.”