ChainCatcher reports that, 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 (BMA), marking the first DAO-related license issued by the BMA. DerivaDEX is reportedly a decentralized derivatives trading platform focused on institutional users and is expected to launch before the end of the year. The protocol was designed by veterans from DRW and Consensys and is backed by venture capital firms such as Dragonfly, CMS Holdings, Electric Capital, and Polychain.