As a researcher with a keen interest in both the world of finance and digital assets, meeting Luuk Strijers in Prague felt like standing at the crossroads of Kafkaesque bureaucracy and crypto revolution. His journey from traditional exchanges to Deribit, a dominant force in the crypto derivatives market, echoes the transformation of this historic city where ancient stones whisper tales of both surreal literature and financial innovation.
In the same city where Kafka envisioned transformation in the form of metamorphosis, a fresh change is unfolding. Here, the old city stones seem to echo tales of navigating bureaucratic mazes, much like how crypto-currency is currently challenging conventional financial limitations.
Engaging with Luuk Strijers within the exclusive VIP area of the Prague Congress Center at the latest The Block’s Emergence gathering, is akin to entering a crossroads resonant with rebellion – where the spirit of Kafka’s battles against societal barriers reverberates in today’s digital asset uprising.
In the following landscape, a city known for nurturing surreal literature and crypto innovators such as SatoshiLabs extends towards a skyline where Gothic towers echo the climbing graphs of Bitcoin options. A few hours ago, the Czech Republic enacted legislation that exempts digital asset earnings from income tax if held for more than three years – another barrier between traditional and modern finance starting to dissolve.
Having accumulated over twenty years of expertise in financial instruments such as stocks, bonds, futures, and cryptocurrency derivatives, Strijers came to Deribit in 2019 with a wealth of conventional finance knowledge when he took on the role of Chief Commercial Officer. His past experience leading listed products at the Singapore Exchange provided him with unique insights into both the shortcomings of traditional exchanges and the opportunities for advancement in crypto-derivative markets.
Strijers has been recognized for his influential role in the cryptocurrency derivative market by making it onto CoinDesk’s Most Influential People of 2024 list.
Under Strijers’ leadership, Deribit has firmly established itself as a leading player in the crypto derivatives market, controlling approximately 80% of the global crypto options market. Daily transactions exceed $1.3 billion, significantly outperforming competitors such as Binance, OKX, and CME. As Bitcoin approaches $100,000 and institutional adoption increases, Deribit’s focus on options trading has proven to be insightful.
Strijers explained that our system is not only for handling transactions; instead, when bitcoin fluctuates, it instantly updates a multitude of options across various expiration dates. Unlike traditional exchanges which may update just a couple of prices, our platform efficiently manages numerous assets in real-time.
This complexity has kept many competitors at bay. Having worked at SGX since 2014, Strijers understands firsthand why traditional exchanges struggle to adapt. “In traditional finance, you have layers of intermediaries — brokers, clearing members, central counterparties. Changing that system to accommodate crypto assets isn’t just difficult; it’s nearly impossible without starting from scratch.”
2024 marked a significant turning point for Deribit as the total trading volumes reached an impressive milestone of over $1 trillion. The platform has broadened its range of acceptable collateral, now welcoming assets such as Bitcoin and tokenized gold, which distinguishes it from conventional platforms that mainly deal with fiat currency. This progressive move in collateralization is one of the key factors setting Deribit apart from traditional venues.
2025 finds Strijers concentrating on broadening regulatory scope. With the VARA license in Dubai now active and MiFID approval imminent in Europe, Deribit is constructing what they refer to as a “central-branch” system. Essentially, this means establishing a worldwide network where clients can join locally, but execute trades through regulated hubs. The aim is to ensure that institutional access is as effortless as possible.
The second term of Donald Trump as President might spur faster institutional acceptance of cryptocurrencies. According to Strijers, there’s a widespread expectation that his administration’s initial 100 days will introduce favorable regulations towards cryptocurrencies. While this would primarily boost the U.S. market, it could trigger a chain reaction leading to increased acceptance worldwide.
New offerings are coming up as well. Although bitcoin and ethereum options currently have the highest trading volumes, Strijers indicates a potential broadening of scope to other assets. “There’s increasing demand for derivatives based on Solana and Ripple. However, we’re cautious — we aim to maintain long-term liquidity, not just immediately, but also when these options reach maturity.
Leveraging my rich experience in traditional exchange trading and corporate finance, I’ve played a pivotal role in shaping Deribit into a stalwart of the digital asset landscape for institutions. With trading volumes escalating and an influx of institutional investors joining the fray, my dream of a fully-fledged, regulated derivatives market for cryptocurrencies is gradually taking shape.
With his guidance, it appears that Deribit will persist in holding its prominent position within the cryptocurrency options market. By further narrowing the divide between conventional banking and virtual currencies, Deribit is expected to encourage increased liquidity and institutional involvement in the coming years.
This profile belongs to our special feature, ‘CoinDesk’s Most Influential in 2024’. To view the list of this year’s candidates, click here.
Read More
- SUI PREDICTION. SUI cryptocurrency
- „People who loved Dishonored and Prey are going to feel very at home.” Arkane veteran sparks appetite for new, untitled RPG
- LDO PREDICTION. LDO cryptocurrency
- Destiny 2: A Closer Look at the Proposed In-Game Mailbox System
- Clash Royale Deck Discussion: Strategies and Sentiments from the Community
- Jennifer Love Hewitt Made a Christmas Movie to Help Process Her Grief
- ICP PREDICTION. ICP cryptocurrency
- Naughty Dog’s Intergalactic Was Inspired By Akira And Cowboy Bebop
- Critics Share Concerns Over Suicide Squad’s DLC Choices: Joker, Lawless, and Mrs. Freeze
- EUR IDR PREDICTION
2024-12-10 18:24