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Bybit Fintech FZE has secured a Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA) for Exchange Services, covering spot trading. The licence was announced by Bybit, the financial platform that has more than 80 million users worldwide.
The licence follows Bybit’s decision to establish its international headquarters in Dubai in 2022. It also supports the company’s efforts to build its business within established regulatory frameworks and contribute to the development of Dubai’s digital asset industry.
Ben Zhou, Co-founder and CEO, Bybit
Ben Zhou, Co-founder and CEO, Bybit said:
“Dubai has made significant progress in building a regulatory environment for virtual assets, and we are pleased to take this next step in our journey here. We look forward to continuing our work in Dubai, supporting the local digital asset community and building our business in line with the standards set by VARA.”
The VARA licence covers spot trading. Bybit also set out its wider plans for the market, including the possibility of adding derivatives in future.
Peter Loo, Chief Legal and Compliance Officer, Bybit
Peter Loo, Chief Legal and Compliance Officer, Bybit commented:
“Securing this licence is a significant step forward for Bybit. We have great respect for VARA’s work in establishing a clear and robust framework for virtual assets. A healthy digital asset market needs strong oversight, sound risk management and a commitment to protecting users. We look forward to continuing our work with VARA as we grow our business in Dubai. In time, we also hope to expand our licensed activities to include derivatives, subject to the necessary regulatory approvals. Derivatives are a major part of Bybit’s global trading business, and we want to bring more of our offering to Dubai through the appropriate regulatory process.”
For Bybit, the licence is part of a broader effort to build its business in each market in line with local requirements. The company continues to invest in compliance, security and risk management as it develops products and services for users across different jurisdictions.
The Dubai licence comes amid further regulatory progress for the company in 2026. In his October keynote, Ben Zhou, Co-founder and CEO, Bybit, highlighted five new licences and regulatory approvals in 2026 across the European Union, the Cayman Islands, Indonesia, South Africa and El Salvador.
Since establishing its international headquarters in Dubai in 2022, Bybit has taken part in the emirate’s blockchain and Web3 ecosystem through industry engagement, partnerships and initiatives that support knowledge-sharing and collaboration. The company intends to build on its presence in the emirate, working with relevant stakeholders and developing its services in line with applicable regulatory requirements.
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