DerivaDEX, managed by DAO, has obtained a license issued by the Bermuda Monetary Authority

According to The Block, DEX Labs CEO Aditya Palepu revealed that DerivaDEX, managed by a DAO, has received a license from the Bermuda Monetary Authority, marking the first DAO-related license issued by the Bermuda Monetary Authority.

It is reported that DerivaDEX is a decentralized derivatives trading platform focused on institutional users, expected to launch by the end of the year. The protocol is designed by veterans from DRW and Consensys and is supported by venture capital firms such as Dragonfly, CMS Holdings, Electric Capital, and Polychain.