Deribit to launch 1 Jan 2025 as a fully licensed spot and derivatives exchange in Dubai UAE

November 29, 2024 – Dubai, UAE – Deribit, the world’s leading crypto derivatives exchange, is proud to announce the launch of spot and derivatives trading in the UAE and migration of all activities towards Deribit’s Dubai-based entity, Deribit FZE, licensed by the Virtual Assets Regulatory Authority (VARA).

This strategic move, which has been prepared over the last year, underscores Deribit’s commitment to operating under a progressive and secure regulatory framework while enhancing its offerings for institutional and qualified investors globally.

Effective January 1, 2025, all qualified and institutional investors will be welcomed as direct clients of Deribit FZE, while retail clients will continue to be serviced by DRB Panama, now operating as a broker member of Deribit FZE. This transition reflects Deribit’s focus on regulatory compliance and superior client service, leveraging Dubai’s advanced crypto infrastructure.

A Seamless Migration to Dubai

The migration process will include:

• New Terms of Service: the new terms will come into effect on 1 January 2025. Clients that are eligible for migration will become a client of Deribit FZE as of this date.
• Mandatory KYC Refresh: Clients who do not complete the KYC process before January 1 will be placed on “Reduce Only” mode, restricting new positions but allowing the closure of existing positions.
• Transfer of Open Interest: Deribit will migrate its substantial open interest, currently valued at nearly USD 50 billion, to its Dubai entity.

“Dubai has rapidly positioned itself as a global hub for digital assets, thanks to the visionary efforts of VARA and the UAE government. The city’s forward-looking regulatory environment provides the ideal foundation for Deribit’s growth and innovation. As the crypto industry matures and global regulatory needs evolve, our institutional clients require our regulated trading platform to be able to evolve with the industry. This move underscores our commitment to meeting these expectations while delivering exceptional, best-in-class service to our clients and adhering to the highest standards of transparency and compliance,” said Luuk Strijers, CEO of Deribit FZE.

A single liquidity pool and operating entity

Unlike other global trading venues establishing new entities, Deribit will consolidate all flow and activities into its Dubai entity. Deribit FZE will be the sole platform offering trading in all our products like spot, perpetuals, futures and options as well as all post-trade activities, all of which are under the supervision of VARA.

A New Era for Crypto Derivatives

This migration is a testament to Deribit’s ongoing mission to shape the future of crypto derivatives trading, ensuring regulatory alignment, operational efficiency, and client satisfaction. As part of this commitment, Deribit is proud to operate as one of the most qualified, secure, and transparent platforms in the industry.

Deribit now stands out with four years of audited financials, showcasing its verified financial integrity and commitment to transparency. The platform is ISO 27001 certified, ensuring robust information security management practices, and complies with SOC 2 Type I and Type II standards, reflecting the highest levels of security, availability, and processing integrity. Additionally, Deribit provides daily proof of assets and liabilities, along with a real-time view of cumulative margin locked. For custody solutions, it partners with leading providers such as Copper Clearloop, Cobo Loop, FalconX, Fireblocks Off Exchange, Fidelity, Zodia, and more, with additional options on the way.

For more information on the migration process or assistance with KYC updates, please visit www.deribit.com or contact our customer support team.

About Deribit

Deribit is a centralized, institutional-grade crypto derivatives exchange for options and futures trading. Deribit’s state-of-the-art infrastructure offers instantaneous price discovery, low latency trading, advanced risk mitigation services, and deep liquidity via its network of top-tier market makers. Led by a team with decades of experience in options trading across all markets, Deribit facilitates a significant majority of all crypto options trading and has robust proof of assets and liabilities procedures to ensure the exchange is held to the highest of standards. Deribit has been consistently acknowledged as a leader in space as one of few exchanges to secure the ISO 27001 certificate and was named one of Forbes World’s Most Trustworthy Crypto Exchanges and Best Exchange for Innovation by Hedgeweek.

Media Contact

M Group Strategic Communications (On behalf of Deribit): [email protected].