Deribit Secures VARA License, Expanding Regulated Spot Trading in Dubai

Coinbase's subsidiary Deribit has secured a crucial license from Dubai's Virtual Assets Regulatory Authority (VARA), allowing it to route customer spot orders directly to Coinbase Exchange for execution.

This move marks a significant expansion of Deribit's regulated spot trading operations in the emirate. The company already offers spot trading under its existing VARA Exchange Services license, which was obtained in January 2025.

The new approval enables eligible transactions to connect with Coinbase's centralized order book, while a limited number of assets will continue trading through Deribit's own spot order book as a fallback.

Luuk Strijers, Senior Director and Head of International Derivatives at Coinbase, commented on the development: 'This license marks the moment the Coinbase acquisition starts delivering directly for our clients.' He added that by routing spot orders to Coinbase Exchange, they are combining the platform Deribit clients know and trust with some of the deepest liquidity in crypto and hundreds of new assets.