Bybit has secured a Virtual Asset Service Provider licence from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer spot crypto trading in the emirate.
The licence was issued to Bybit Fintech FZE, the exchange’s local entity, for exchange services. Bybit said it hopes to expand the licence to cover derivatives, subject to regulatory approval.
Dubai has hosted Bybit’s international headquarters since 2022. Ben Zhou, the company’s co-founder and CEO, said the approval marked the next step in Bybit’s development in the emirate.
According to Peter Loo, Bybit’s chief legal and compliance officer, derivatives represent a large share of the company’s global trading business. He said the exchange plans to bring more of its offering to Dubai through the relevant regulatory process.
The Dubai approval follows licences and regulatory approvals Bybit obtained in 2026 across the European Union, the Cayman Islands, Indonesia, South Africa and El Salvador. The company said it will continue investing in compliance, security and risk management as it expands.
Source: Fintech News UAE
