Deribit FZE, the Dubai-based arm of Deribit Group, a firm in
the cryptocurrency derivative options market, has announced the acquisition of
a conditional Virtual Asset Service Provider (VASP) license from Dubai’s
Virtual Asset Regulatory Authority (VARA). This license, covering both spot and
derivatives trading, remains non-operational until Deribit fulfills all
remaining conditions and localized requirements outlined by VARA.

As part of its strategic moves, Deribit is in the process of
relocating its global headquarters to Dubai. The appointment of Luuk Strijers
as the Chief Executive Officer, along with the addition of two Non-Executive
Directors, marks significant leadership changes within the organization.
Strijers, who joined Deribit in 2019 as the Chief Commercial Officer, brings
nearly two decades of experience, including a tenure at SGX, to his new role.

Strijers commented on the news: “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.”

Deribit’s operational expansion into Dubai aims to cater to
institutional and qualified investors, leveraging its advanced technology
platform. The firm also plans to maintain services for its retail clientele
through its broker affiliate in Panama, which is linked to Deribit FZE in
Dubai.

Deribit Readies for Dubai Exchange Launch

Details regarding the official launch of the exchange
Exchange

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv

An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
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Dubai, including launch plans, terms, and operational timelines, will be shared
by Deribit in due
course. Dennis Dijkstra, the former CEO of Flow Traders, and industry veteran
Willem Meijer are set to join Deribit as Non-Executive Directors. In their
advisory roles, Dijkstra and Meijer will contribute to shaping the long-term
growth strategy and maintaining Deribit’s market leadership position.