Deribit Secures VARA License in Dubai, Partners with Coinbase for Deeper Liquidity
Deribit has secured a VARA Broker-Dealer license in Dubai, allowing it to upgrade its spot offering and provide deeper liquidity to traders. This move also enables Deribit clients to access Coinbase's trading infrastructure without leaving the platform.
The company has partnered with Coinbase Exchange, which will route spot trades made through Deribit to be filled on the exchange. This partnership aims to give Deribit clients access to a wider range of assets and improve spot execution for Dubai traders.
The VARA license is significant as it gives Deribit a regulated framework in Dubai's crypto market, enabling it to expand its services and provide better trading experiences for its users. The partnership with Coinbase Exchange also boosts the exchange's liquidity and asset offerings within the Deribit ecosystem.