Deribit Receives Dubai VARA Broker-Dealer Licence and Routes Spot Orders to Coinbase

Deribit, a Coinbase company, says it has received a broker-dealer licence from Dubai’s Virtual Assets Regulatory Authority. In a Aug. 13 announcement, Coinbase said spot buy, sell and trade orders placed on Deribit would be routed to Coinbase Exchange for execution from launch.

The company described the move as an upgrade to Deribit’s spot product. Deribit has offered spot trading since January 2025 under a VARA Exchange Services licence, according to the announcement.

What the licence enables

Coinbase says the broker-dealer licence allows Deribit clients to access Coinbase Exchange liquidity for routed spot orders. It says the change expands the available asset universe and is intended to support deeper liquidity and tighter spreads.

The announcement also says a small number of assets will continue to be executed on Deribit’s own order book, which remains in place as a fallback. Availability is stated to cover retail, qualified and institutional client types, subject to applicable requirements.

Derivatives connection

Coinbase says assets acquired through the upgraded spot platform can be used as derivatives collateral following regulatory approval. That is a conditional future statement, not confirmation that every asset or client can immediately use the feature.

The company’s release is the primary account of the licence and product change. Market participants should consult Deribit’s current legal disclosures and VARA requirements for their own eligibility and product availability. Coinbase did not state that access is identical across every jurisdiction or client classification.