World Crypto Global
- Written by: Tareq Sikder
- Tue, 02 Apr 2024
- Israel
Deribit FZE, the Dubai-based arm of Deribit Group, a firm inthe cryptocurrency derivative options market, has announced the acquisition ofa conditional Virtual Asset Service Provider (VASP) license from Dubai'sVirtual Asset Regulatory Authority (VARA). This license, covering both spot andderivatives trading, remains non-operational until Deribit fulfills allremaining conditions and localized requirements outlined by VARA.Relocation of Global Headquarters to Dubai and New CEOAppointmentAs part of its strategic moves, Deribit is in the process ofrelocating its global headquarters to Dubai. The appointment of Luuk Strijersas the Chief Executive Officer, along with the addition of two Non-ExecutiveDirectors, marks significant leadership changes within the organization.Strijers, who joined Deribit in 2019 as the Chief Commercial Officer, bringsnearly two decades of experience, including a tenure at SGX, to his new role.Strijers commented on the news: Being appointed CEO at thiscrucial time is a huge honour. VARAs progressive regulatory framework opens upvast opportunities in the digital asset realm. Our strong position in thecrypto options market reflects the trust our clients have in us. Im thrilledto work with our loyal clientele and drive Deribits innovation, as we continueto lead in the evolving crypto marketplace.Deribit's operational expansion into Dubai aims to cater toinstitutional and qualified investors, leveraging its advanced technologyplatform. The firm also plans to maintain services for its retail clientelethrough its broker affiliate in Panama, which is linked to Deribit FZE inDubai.Deribit Readies for Dubai Exchange LaunchDetails regarding the official launch of the exchange inDubai, including launch plans, terms, and operational timelines, will be sharedby Deribit in duecourse. Dennis Dijkstra, the former CEO of Flow Traders, and industry veteranWillem Meijer are set to join Deribit as Non-Executive Directors. In theiradvisory roles, Dijkstra and Meijer will contribute to shaping the long-termgrowth strategy and maintaining Deribit's market leadership position.John Jansen, the Co-Founder of Deribit, commented: Securingthe conditional VASP license from VARA is not just a regulatory milestone; itsa sign of our unwavering commitment to providing a secure, transparent, andinnovative platform for our users. The appointment of a new CEO and twoseasoned NEDs signifies a fusion of fresh insights and extensive experience,fortifying our strategy for long-term growth.This article was written by Tareq Sikder at www.financemagnates.com.
