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Bybit has named Derek Dai as Country Manager for the Middle East and North Africa (MENA), as the cryptocurrency exchange signals a deepening commitment to the UAE despite ongoing regional geopolitical tensions.
In the role, Dai will lead Bybit's regional strategy across MENA, overseeing market expansion, regulatory collaboration, institutional partnerships, and localised product development. The appointment follows Bybit's receipt of a Securities and Commodities Authority (SCA) licence in the UAE.
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 80 million users globally. Founded in 2018, the company operates across both traditional and decentralised finance markets.
Helen Liu, Co-CEO, Bybit
Helen Liu, Co-CEO, Bybit said:
"The UAE gave Bybit a home. You do not abandon your home when the storm comes — you stand in the doorway. Some companies are reassessing their Gulf exposure right now. We are doing the opposite. We are deepening our presence, our investment, and our commitment to this region."
Bybit stated that the timing of Dai's appointment was a deliberate strategic decision made in the context of current regional instability rather than in spite of it.
Derek Dai, Country Manager MENA, Bybit
Derek Dai, Country Manager MENA, Bybit also commented:
"The Middle East is emerging as one of the most important regions shaping the future of digital finance, with the UAE leading the way in building a progressive and well-regulated ecosystem. Our priority is to deepen collaboration with financial centres such as DIFC and DMCC, while strengthening the infrastructure that connects digital assets with everyday financial services and advancing the development of tokenised real-world assets that bridge traditional finance and the digital asset economy."
Dai also outlined near-term operational priorities for the region, including expansion into Bahrain.
Derek Dai, Country Manager MENA, Bybit also said:
“In the coming months, we will focus on expanding AED fiat access, building partnerships with banks and payment providers, and enhancing our Islamic finance offerings through the development of more Shariah-compliant products. By working closely with regulators, institutions, and builders, we aim to support the next phase of responsible digital asset adoption across the Middle East, while expanding our presence across the GCC, with Bahrain representing one of the next key milestones for Bybit in the region.”
On the operational side, Bybit activated Business Continuity Protocols (BCP) across its Dubai and Abu Dhabi offices in response to regional tensions, introducing daily management check-ins, real-time employee safety confirmations, and relocation or travel assistance for staff in sensitive areas. The company also partnered with the Emirates Red Crescent during Ramadan to support the Iftar Tent initiative.
Helen Liu, Co-CEO, Bybit also commented:
“Bybit's commitment to the UAE was made for the long term — through growth and through adversity. We continue to invest in local talent, regulatory compliance, and community partnerships. The UAE's vision to become the world's leading digital asset hub is not diminished by this crisis. If anything, the resilience this nation is showing only reinforces why we chose to build here.
Derek Dai, Country Manager MENA, Bybit said:
“Our users in the UAE, Saudi Arabia, Qatar, and across the Gulf need to know one thing: Bybit is open, Bybit is liquid, and Bybit is staffed around the clock. Your funds are safe. Your access is uninterrupted. We are not going offline, and we are not leaving.”
Helen Liu, Co-CEO, Bybit also said;
“To our entire UAE family — our users, our partners, our colleagues, and every family across the Emirates — Bybit stands with you. We wish safety, strength, and peace to everyone affected by this conflict. The UAE has shown the world what courage and resilience look like, and we are honoured to stand alongside this community. We are here today, we will be here tomorrow, and we will be here long after this crisis passes.”
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