April

Dubai

Deribit, a<a href="https://thecoinrise.com/deribit-faces-a-28m-attack-on-its-hot-wallet/"> renowned cryptocurrency exchange</a> specializing in options and futures trading for digital assets like Bitcoin, has made a significant strategic move by relocating its operations to Dubai.&nbsp; 
This<a href="https://insights.deribit.com/exchange-updates/deribit-first-derivatives-exchange-to-receive-vara-regulatory-approval/"> relocation</a> comes following the approval of a virtual asset service provider (VASP) license by Dubai’s<a href="https://thecoinrise.com/dubai-crypto-regulator-vara-request-business-info-from-binance/"> Virtual Asset Regulatory Authority (VARA)</a>, marking a pivotal moment in Deribit’s expansion into new markets. 
<h2 id="span-style-font-weight-400-deribit-fze-span">Deribit FZE</h2> 
The establishment of a Dubai subsidiary, Deribit FZE, underscores the exchange’s commitment to compliance and regulatory adherence in its pursuit of serving global clientele.&nbsp; 
With the VASP license in hand, Deribit is poised to offer a comprehensive suite of crypto trading services in Dubai, encompassing both spot trading and derivatives products such as futures and options. 
While the operational launch of Deribit’s services in Dubai is pending fulfillment of certain conditions and localization requirements stipulated by VARA, the exchange has expressed its intent to share detailed launch plans and timelines in the near future. 
<h3 id="span-style-font-weight-400-shifting-of-global-hq-from-panama-span">Shifting of Global HQ from Panama</h3> 
Deribit’s strategic relocation to Dubai also involves the shifting of its global headquarters from Panama, further solidifying its presence in the region.&nbsp; 
This transition coincides with the appointment of Luuk Strijers, the former chief commercial officer, as the new CEO, signaling continuity and leadership stability within the organization. 
John Jansen, co-founder of Deribit, emphasized the significance of obtaining the VASP license as a testament to the company’s unwavering commitment to providing a secure and transparent trading platform.&nbsp; 
Anchoring operations in Dubai not only expands Deribit’s reach but also reaffirms its dedication to serving as the preferred choice for traders worldwide. 
<h2 id="span-style-font-weight-400-deribit-is-a-major-player-in-crypto-derivatives-span">Deribit is a Major Player in Crypto Derivatives</h2> 
Deribit’s prominence in the cryptocurrency landscape is evident, with the exchange standing as a major player in derivatives trading since its inception in 2016. Ranked as the fifth-largest derivatives exchange as of April 2, with a daily trading volume of $1.9 billion, Deribit continues to attract institutional and retail investors alike. 
The establishment of VARA in March 2022 has positioned Dubai as a regulatory hub for crypto-related activities, with the<a href="https://thecoinrise.com/dubai-difc-introduces-new-digital-asset-law-details/"> authority issuing licenses to prominent exchanges</a> like Binance and OKX.&nbsp; 
Deribit’s decision to relocate to Dubai underscores the emirate’s growing significance in the global cryptocurrency ecosystem, further enhancing its reputation as a favorable jurisdiction for crypto businesses seeking regulatory clarity and operational stability. 
The post <a href="https://thecoinrise.com/deribit-moves-headquarter-to-dubai-after-vara-approval/">Deribit Moves Headquarter to Dubai After VARA Approval</a> appeared first on <a href="https://thecoinrise.com">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Deribit Moves Headquarter to Dubai After VARA Approval

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TheCoinrise Media

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