VARA grants First crypto derivative exchange license to Deribit

VARA grants First crypto derivative exchange license to Deribit

Deribit FZE, the UAE based entity of Deribit group, a crypto derivative options platform, has announced that it has received a conditional Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Asset Regulatory Authority (VARA) for VA Exchange Services. The license covers both spot and derivatives trading and remains non-operational until Deribit fully satisfies all remaining conditions and select localization requirements defined by VARA.

Deribit is a centralized, institutional-grade crypto derivatives exchange for options and futures. Deribit set up its operations One Central in Dubai and has now announced that it is relocating its global headquarters to Dubai. It has also appointed Luuk Strijers as the Chief Executive Officer alongside two Non-Executive Directors. The firm will work closely with VARA to complete the last formal steps in the process to enable it to officially launch the exchange in Dubai.

Once operational, Deribit will serve institutional and qualified investors, enabling them to utilise the platform´s leading technology. The firm will also continue to serve its retail client base from its broker affiliate in Panama, which is a member of Deribit FZE in Dubai until further notice.

Strijers commented, “Being appointed CEO at this crucial time is a huge honor. VARA’s progressive regulatory framework opens up vast opportunities in the digital asset realm. Our strong position in the crypto options market reflects the trust our clients have in us. I’m thrilled to work with our loyal clientele and drive Deribit’s innovation, as we continue to lead in the evolving crypto marketplace.”

Deribit has also disclosed that Dennis Dijkstra, Former CEO of Flow Traders, and industry veteran Willem Meijer, will become Non-Executive Directors (NEDs) for Deribit. As NEDs, Dijkstra and Meijer will be assisting in advising on the long-term growth strategy of the company and ensuring that Deribit continues to position itself as a successful and profitable market leader.

John Jansen, Co-Founder of Deribit, added, “Today marks a monumental chapter in Deribit’s story. Securing the conditional VASP license from VARA is not just a regulatory milestone; it’s a sign of our unwavering commitment to providing a secure, transparent, and innovative platform for our users. The appointment of a new CEO and two seasoned NEDs signifies a fusion of fresh insights and extensive experience, fortifying our strategy for long-term growth. As we anchor our operations in Dubai, we’re not only extending our reach but also reaffirming our resolve to remain the platform of choice for trading. This is a giant stride towards realising our ambitious vision, and it invigorates our journey in steering the crypto industry to new horizons.”

Crypto derivative exchange BioFin sponsors Token2049 event in Dubai

Crypto derivative exchange BioFin sponsors Token2049 event in Dubai

BioFin, a crypto derivatives exchange is sponsoring the Token2049 event in Dubai UAE. As per the press release, this sponsorship marks a significant milestone for BloFin, following its successful participation as a Gold Sponsor at TOKEN2049, in Singapore in 2023. It is dedicated to furthering the blockchain industry’s growth and development by partnering once again with TOKEN2049.

As a Platinum Sponsor, BloFin aims to showcase its commitment to innovation, technology, and community engagement within the blockchain ecosystem. TOKEN2049 Dubai 2024 promises to be a gathering of industry leaders, innovators, and enthusiasts from around the world, and BloFin’s sponsorship underscores its position as a key player in shaping the future of blockchain technology and digital asset trading.

BloFin’s exclusive WhalesNight AfterParty is poised to make waves. Scheduled to be held at the scenic Sobe Dubai Rooftop Sundowner, the event will commence at 19:30 (UTC+4) on April 18, 2024.

The BloFin WhalesNight AfterParty will bring together industry leaders, BloFin Whales (influencers), and BloFin VIPs from around the world. Attendees can look forward to engaging discussions, exciting news, and valuable networking opportunities in a vibrant and dynamic atmosphere. It will serve as a platform for participants to connect, share insights, and explore new opportunities in the ever-evolving cryptocurrency landscape.

With years of experience in the blockchain industry, Matt Hu, the CEO of Blofin, is anticipating this opportunity and recognizes the significance of attending TOKEN 2049 in Dubai as a platinum sponsor for his product: 

“Bitcoin is being heralded as the modern-day gold, while Dubai is on the rise as the world’s new financial epicenter. Dubai Token2049 presents an unparalleled platform for dialogue, not just for us, but for global users as well. As one of the most rapidly expanding exchanges, BloFin is excited to showcase our breakthroughs in product innovation, cutting-edge technology, and unparalleled security  measures. We’re not stopping there; BloFin is committed to ongoing investment in our product suite, technological advancements, security protocols, and operational efficiencies to ensure our users receive nothing but the most exceptional and dependable services. Join us at Dubai Token2049 to witness the future of finance, today.” 

Attendees at TOKEN2049 in Dubai will have the opportunity to delve into the diverse features of the Blofin ecosystem, spanning fiutures trading, copy trading, and more. Through interactions with experts, Web3 builders, thought leaders, and enthusiasts at TOKEN2049, BloFin aims to forge a robust foundation for the advancement and maturation of the blockchain ecosystem.