The world’s leading cryptocurrency derivative options platform, Deribit FZE, a Dubai-based company of the Deribit group, said today that it has been granted a conditional Virtual Asset Service Provider (VASP) license by Dubai’s Virtual Asset Regulatory Authority (VARA) for VA Exchange Services.
The license, which applies to both spot and derivatives trading, is not operational until Deribit satisfies all outstanding requirements and certain localization specifications set forth by VARA.
Deribit has named Luuk Strijers as its chief executive officer and recruited two non-executive directors. The company is moving its worldwide headquarters to Dubai. To fulfill the last formal requirements and be able to formally open the exchange in Dubai, the company will collaborate closely with VARA.
Institutional and qualified investors will be able to utilize the cutting-edge technologies of the platform once Deribit is operating. In addition, the firm will keep serving its retail clientele from its broker affiliate in Panama, a part of Deribit FZE in Dubai, at least through the end of September.
Deribit will shortly disclose the launch schedule, conditions, and the precise moment of going live under the new license.
The company hired the new CEO, Luuk Strijers, as Chief Commercial Officer in 2019. Having worked in the business for nearly 20 years (including as a former SGX employee), Strijers brings to his current position a strong history in client interaction and product development.
Strijers said in response to the announcement, “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.”
Deribit announces Dennis Dijkstra, Former CEO of Flow Traders, and industry veteran Willem Meijer as new Non-Executive Directors (NEDs), advising on long-term growth strategy and market leadership.
Deribit co-founder John Jansen stated, “Today marks a monumental chapter in Deribit’s story. Securing the conditional VASP license from VARA is not just a regulatory milestone; it’s a sign of our unwavering commitment to providing a secure, transparent, and innovative platform for our users.”
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