In a recent press release, the platform announced that it will migrate its operations and approximately $50 billion worth of assets to its Dubai-based entity, Deribit FZE. This transition will consolidate all trading flows under the entity, including spot, perpetuals, futures, options, and post-trade services.
Notably, the move follows the division’s recent approval by Dubai’s Virtual Assets Regulatory Authority (VARA), granting the exchange a license to operate within the city’s regulatory framework. Luuk Strijers, CEO of Deribit, emphasized that Dubai’s forward-looking regulatory environment offers the ideal foundation for the platform’s growth and innovation.
Starting in 2025, Deribit will onboard all institutional and qualified clients under its VARA-licensed entity. However, retail clients will continue to be serviced through Deribit’s Panama-based entity, which will now function as a broker member of the Dubai entity.
As part of the migration process, all Deribit clients are required to complete the mandatory know-your-customer (KYC) process by the end of 2024. Those who fail to comply will face restrictions, with accounts moving to a “reduce-only” mode, allowing users to close positions but preventing new trades. Clients must also accept new terms of service to maintain access to their accounts.
Also Read: CFTC Responds to Criticism of Perpetual Futures as Crypto Derivatives Market Expands
Dubai’s business-friendly environment, transparent regulations, and low corporate tax regime have made it a hotspot for cryptocurrency companies. Deribit’s move aligns with the trend of major crypto firms, like Ripple and Binance, securing licenses to operate in the UAE.
Deribit gets a new broker-dealer licence, gets acquired by Coinbase
In August 2026, when VARA granted Deribit a Broker-Dealer Licence. The new licence strengthens Deribit’s spot-trading business and allows it to provide a substantially broader spot offering through its Dubai operation.
The change is important because Deribit was historically known primarily as a derivatives venue, particularly for Bitcoin and Ether options. Its spot business, launched in January 2025 under its existing VARA authorization, is now being expanded significantly.
Coinbase completed its acquisition of Deribit in 2025 in a deal valued at approximately $2.9 billion, bringing one of the world’s largest crypto options platforms into its broader exchange ecosystem.
Under the new broker-dealer arrangement, spot orders placed on Deribit can be routed to Coinbase Exchange for execution. This gives Deribit users access to Coinbase’s deeper centralized liquidity and a much larger selection of assets.
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