Deribit to Route Most Spot Orders to Coinbase under New Dubai Licence

Deribit has received a Broker-Dealer Licence from Dubai's Virtual Assets Regulatory Authority (VARA), allowing the Coinbase-owned crypto derivatives platform to route most spot orders to Coinbase Exchange for execution.

Deribit will remain the client-facing venue and retain its derivatives ecosystem, while Coinbase Exchange will provide main execution and liquidity for the upgraded spot product.

Coinbase Becomes Deribit's Main Spot Execution Venue

Deribit FZE received a VARA VASP licence for Exchange Services in January 2025. That permission allows the platform to offer spot trading under certain restrictions.

The new Broker-Dealer Licence adds a separate permission for the upgraded spot model, rather than replacing the existing exchange licence. Under the new structure, most spot orders placed through Deribit will be routed to Coinbase Exchange for execution.

Coinbase says this gives Deribit clients access to deeper spot liquidity and hundreds of additional assets listed on Coinbase Exchange, while keeping the Deribit interface and derivatives environment. Deribit’s own spot order book will remain in use for a small number of assets.

… Continue reading the full article at the original source below.