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Bybit, the world's second-largest cryptocurrency exchange by trading volume, has secured the Virtual Asset Platform Operator Licence from the Securities and Commodities Authority (SCA) of the United Arab Emirates.
The exchange becomes the first crypto platform to obtain this full licence from the SCA, representing a significant development in the UAE's strategy to position itself as a global digital asset hub.
The licensing enables Bybit to bring its full suite of global products and services into regulatory compliance within the UAE market. The exchange initially received In-Principle Approval from the SCA in February 2025, working with the Blockchain Centre, Abu Dhabi, to navigate the regulator's framework.
The achievement adds to Bybit's regulatory progress in 2025, which includes obtaining its MiCAR licence in May and resuming full trading operations in India in September. The exchange has pursued a compliance-focused expansion strategy across major global jurisdictions.
Ben Zhou, Co-founder and CEO of Bybit
Ben Zhou, Co-founder and CEO of Bybit, said:
"Receiving the full Virtual Asset Platform Operator Licence from the SCA is a testament to Bybit's unwavering commitment to building trust through compliance and transparency. The UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards.
At Bybit, we see regulation as the foundation for sustainable growth. This milestone marks another step forward in our global regulatory roadmap — from MiCAR in Europe to India and now the UAE — as we continue to set new benchmarks for a secure and responsible digital asset ecosystem."
— Ben Zhou, Co-founder and CEO of Bybit
Helen Liu, Co-CEO of Bybit, added:
"We sincerely thank the Securities and Commodities Authority for their trust and support throughout the licensing process. The SCA's clear, robust, and well-structured regulatory framework provides a strong foundation for global exchanges like Bybit to operate with confidence and clarity.
This achievement would not have been possible without the SCA's forward-thinking approach to fostering innovation and compliance in the digital asset space. We look forward to deepening our collaboration as we bring more resources, products, and expertise to the UAE market."
— Helen Liu, Co-CEO of Bybit
Under the SCA licence, Bybit will offer regulated virtual asset trading, brokerage, custody, and fiat conversion services to both retail and institutional clients across the UAE.
The exchange plans to establish a larger regional operations centre in Abu Dhabi, with a workforce exceeding 500 employees across Abu Dhabi and Dubai. Bybit intends to accelerate local hiring across compliance, operations, and customer service functions, whilst introducing education and Web3 innovation programmes in collaboration with local partners.
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