United

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Dubai

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 Dubai will become the new operational hub for Deribit, a leading crypto options trading platform, as it prepares to launch spot and derivatives trading in the United Arab Emirates (UAE) on January 1, 2025. 
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In a recent<a href="https://insights.deribit.com/exchange-updates/deribit-to-launch-1-jan-2025-as-a-fully-licensed-spot-and-derivatives-exchange-in-dubai-uae/"> press release</a>, 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. 
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&nbsp; <a style="color: #0000ff;" href="https://defi-planet.com/2024/10/ripple-gains-in-principle-approval-to-expand-services-in-the-uae/">Ripple</a> and<a style="color: #0000ff;" href="https://defi-planet.com/2022/11/binance-receives-permission-to-provide-custody-services-in-abu-dhabi/"> Binance</a>, securing licenses to operate in the UAE. 
Strijers added, 
<blockquote>
 “As the crypto industry matures, our institutional clients require a regulated platform that evolves with the industry. This move underscores our commitment to high-quality service and compliance with global standards.”
</blockquote> 
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Deribit Moves Operations to Dubai, Prepares to Launch Trading in UAE

DeFi Planet

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