Bybit Secures Dubai Virtual Assets Regulatory Authority (VARA) Exchange Services License

Odaily Report: According to official news, Bybit announced today that Bybit Fintech FZE has successfully obtained a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA), with the licensed scope covering exchange services (spot trading).

This license marks an important milestone in Bybit's development in Dubai, where the company established its international headquarters in 2022.

Bybit Co-founder and CEO Ben Zhou stated: "Dubai has made remarkable progress in building a virtual asset regulatory environment, and we are delighted to take this step in this journey. We look forward to continuing to deepen our presence in Dubai, supporting the local digital asset community, and developing our business in strict accordance with the standards set by VARA."

Bybit Chief Legal and Compliance Officer Peter Loo stated: "Obtaining this license is an important step forward for Bybit. We highly commend VARA's work in establishing a clear and robust virtual asset regulatory framework. A healthy digital asset market requires strong regulation, sound risk management, and a firm commitment to user protection. As our business in Dubai continues to grow, we look forward to continuing our close cooperation with VARA. In the future, subject to obtaining the necessary regulatory approvals, we also hope to expand the licensed business scope to derivatives trading. Derivatives are an important part of Bybit's global trading business, and we hope to bring more products and services to Dubai through a compliant regulatory process."

In a keynote speech earlier in October, Ben highlighted the company's five new licenses and regulatory approvals obtained in 2026 across the EU, the Cayman Islands, Indonesia, South Africa, and El Salvador.

Since establishing its international headquarters in Dubai in 2022, Bybit has been actively participating in the emirate's growing blockchain and Web3 ecosystem through industry exchanges, strategic partnerships, and various initiatives that support knowledge sharing and collaboration.