DerivaDEX DAO received the first decentralized derivative license in Bermuda.

DerivaDEX, a decentralized derivatives trading exchange set to launch and governed by a DAO, has just reported that it received the first license for a DAO from the Bermuda Monetary Authority (BMA), paving the way for the platform to operate under a new governance framework. Previously, the BMA also granted the first license to Coinbase Derivatives when it expanded internationally.

CEO of DEX Labs, Aditya Palepu, stated that DerivaDEX targets institutional investors, combining the advantages of DeFi and TradFi to create a “safer market.” The project is designed by former employees of DRW and Consensys and is backed by major venture capital funds such as Dragonfly, CMS Holdings, Electric Capital, and Polychain.

Palepu emphasized that the goal is to attract institutional capital awaiting infrastructure such as DerivaDEX — ensuring performance, transparent risk management, and legal clarity. The core product is ready, but the launch is postponed until the BMA license is obtained, ensuring that the user onboarding process complies with KYC according to Bermuda law.

The licensing process lasted two years, involving numerous exchanges with regulatory authorities and participation in the Innovation Hub — a workshop environment that helps projects understand the requirements of supervisory agencies and contributes to policy formation.

The three entities of Deriva involved in this process are: DerivaDAO Foundation in the Cayman Islands, Deriva Bermuda LTD, and the DAO itself, the governing body that makes all decisions, including when to launch the protocol. DEX Labs does not control or operate the exchange, and has no privileges in DAO governance.