According to CoinMeta, Deribit has recently obtained a brokerage license from the Dubai Virtual Assets Regulatory Authority (VARA), allowing it to route spot orders to the Coinbase exchange for execution. This new regulatory approval enables Deribit to access the liquidity of Coinbase, and customers will benefit from greater liquidity as well as access to hundreds of additional assets. Deribit has been providing spot trading under its VARA exchange license since January 2025, and the new brokerage license connects its spot market with Coinbase's central order book, potentially offering customers greater liquidity and narrower bid-ask spreads. Deribit's spot services will be available to retail, qualified, and institutional investors, while the spot order book will still retain a small portion of assets as a reserve.