Deribit, a platform that offers crypto futures and options, has recently obtained regulatory approval from the Dubai regulator and plans to relocate to the emirate.
The company's Dubai-based subsidiary, Deribit FZE, has obtained a virtual asset service provider (VASP) license from the Virtual Assets Regulatory Authority (VARA) on April 2.
This license will allow Deribit to provide cryptocurrency trading services in Dubai, including spot trading and trading of derivatives such as futures and options.
However, the platform will not immediately operate under the new license, as it needs to meet all conditions and select localization requirements defined by VARA.
Deribit will focus on serving institutional and qualified investors in Dubai.