Deribit Gets VARA Licence in Dubai, Expanding Access to Coinbase Liquidity

Deribit has secured a Broker-Dealer Licence from Dubai's Virtual Assets Regulatory Authority (VARA), allowing its spot trading service to route orders directly to Coinbase Exchange for execution.

The licence, granted on January 1, 2025, changes the scale of Deribit's spot trading service by bringing Coinbase Exchange liquidity into the platform. As a result, Deribit clients will have access to deeper market liquidity and tighter spreads.

Orders sent to Coinbase Exchange will be executed from its centralised orderbook, providing Deribit users with access to hundreds of assets listed on Coinbase Exchange. This integration also enables Deribit users to use assets bought through the upgraded spot service as collateral for derivatives trading, subject to regulatory approval.

The new licence adds another layer to the relationship between Coinbase and Deribit, which was acquired by Coinbase in a deal that highlights the exchange's efforts to expand its infrastructure. The integration is available to retail, qualified, and institutional investors, with Deribit maintaining its own spot orderbook for a limited number of assets.