Deribit’s new crypto brokerage license from VARA Dubai offers Coinbase liquidity and assets

Deribit, a Coinbase company, has received a new license from Dubai’s Virtual Asset Regulatory Authority allowing it to offer enhanced crypto spot trading backed by Coinbase. Deribit has offered Virtual asset derivative spot trading since January 2025 under its VARA Exchange Services license. The new Broker-Dealer License, and access to Coinbase Exchange liquidity and assets will be available to retail and institutional clients.

With the new crypto Broker-Dealer License from Dubai’s Virtual Assets Regulatory Authority (VARA), Deribit will enhance its spot trading offering, with Coinbase Exchange serving as a key liquidity and asset provider, giving Deribit clients access to significantly deeper liquidity and hundreds of new assets.

“This licence marks the moment the Coinbase acquisition starts delivering directly for our clients. By routing spot orders to Coinbase Exchange, we’re combining the platform Deribit clients know and trust with some of the deepest liquidity in crypto and hundreds of new assets. We’re grateful to VARA for its continued partnership as we build our global derivatives business from Dubai.” Luuk Strijers, Senior Director, Head of International Derivatives at Coinbase.

Coinbase noted that the license is a major upgrade to Deribit’s spot trading product which from launch, spot buy, sell and trade orders placed on Deribit will be routed to Coinbase Exchange for execution.

It will offer deeper liquidity because orders routed to Coinbase Exchange are executed on one of the largest and most liquid centralized orderbooks in crypto.

Moreover Deribit clients gain access to the full range of assets listed on Coinbase Exchange, dramatically expanding the universe of tokens available to trade on the platform. Assets acquired through the upgraded spot platform can be used as collateral for derivatives trading on Deribit, following regulatory approval.

Last week, Coinbase received a license from FSRA in ADGM allowing them to arrange investment deals and offer custody for their tokenized securities, noting that the UAE, and Abu Dhabi in particular will now be its international tokenization hub. C

The tokenized securities regulated by FSRA in ADGM will be fully backed by shares, and token holders will receive full shareholder rights including dividends and voting. All investors will need is a wallet and all transfers will be subject to ongoing sanctions screening allowing Coinbase to freeze or seize assets at the wallet level.