Deribit Receives Broker-Dealer Licence From Dubai's VARA, Connecting Clients to Coinbase Exchange Liquidity
TL;DR: Deribit, a Coinbase company, has received a Broker-Dealer Licence from Dubai's Virtual Assets Regulatory Authority (VARA). The licence allows Deribit to enhance its spot trading offering, with Coinbase Exchange serving as a key liquidity provider, giving Deribit clients access to significantly deeper liquidity and hundreds of new assets. It is the latest step in bringing together the world's leading crypto options platform with the world's most trusted crypto exchange, and another example of Coinbase's commitment to building in regulated markets.
Today we're pleased to announce that Deribit by Coinbase has been granted a Broker-Dealer Licence by Dubai's Virtual Assets Regulatory Authority (VARA). The licence enables a major upgrade to Deribit's spot trading product: from launch, spot buy, sell and trade orders placed on Deribit will be routed to Coinbase Exchange for execution.
This is what the combination of Coinbase and Deribit was designed to deliver. Clients keep the platform, interface and derivatives ecosystem they know, and behind it now sits the scale, liquidity and reliability of Coinbase's centralised orderbook.
A significantly upgraded spot offering
Deribit has offered spot trading since January 2025 under its VARA Exchange Services licence. The new Broker-Dealer Licence, and access to Coinbase Exchange liquidity, takes that offering to another level.
Deeper liquidity. Orders routed to Coinbase Exchange are executed on one of the largest and most liquid centralised orderbooks in crypto. For Deribit clients, that means tighter spreads, better execution and the confidence that comes with trading on institutional-grade infrastructure.
Hundreds of new assets. Deribit clients gain access to the full range of assets listed on Coinbase Exchange, dramatically expanding the universe of tokens available to trade on the platform.
A stronger derivatives ecosystem. Assets acquired through the upgraded spot platform can be used as collateral for derivatives trading on Deribit, following regulatory approval. More assets and deeper liquidity on the spot side translate directly into more options and more diverse trading strategies on the platform where the world already comes to trade crypto options.
Available to all client types
The improved spot experience will be available to Retail, Qualified and Institutional investors. A small number of assets will continue to be executed on Deribit's own spot orderbook, which also remains in place as a fallback, so clients experience no gap in coverage.
Building in regulated markets
Dubai has established itself as one of the world's leading hubs for digital assets, anchored by VARA's dedicated, purpose-built regulatory framework. Deribit was the first derivatives exchange to receive VARA regulatory approval and has operated its global headquarters from Dubai under VARA supervision since the start of 2025.
This licence reflects the approach Coinbase takes everywhere we operate: work with regulators, secure the right permissions, and use them to bring clients products that are safer, deeper and more capable. We're grateful to VARA for its engagement throughout the licensing process.
“This licence marks the moment the Coinbase acquisition starts delivering directly for our clients. By routing spot orders to Coinbase Exchange, we're combining the platform Deribit clients know and trust with some of the deepest liquidity in crypto and hundreds of new assets. We're grateful to VARA for its continued partnership as we build our global derivatives business from Dubai.” Luuk Strijers, Senior Director, Head of International Derivatives at Coinbase.
The upgraded spot product will roll out to clients immediately.
Disclaimer
Deribit FZE is authorised and regulated by the Virtual Assets Regulatory Authority (VARA) in Dubai. Availability of products and services is subject to applicable regulatory requirements and investor classification. Virtual Assets are subject to extreme market volatility, involve a high degree of risk, and can lose value, in part or in full.
