Bybit Achieves VARA License for Exchange Services in Dubai, Aiming to Boost Digital Asset Ecosystem

Bybit's Milestone Achievement: A VARA License in Dubai

In a significant development for the fintech industry, Bybit, a trusted financial platform with over 80 million users globally, has announced that it has secured a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA). This license, which specifically covers spot trading, solidifies Bybit's commitment to compliance and its mission to contribute to the growth of Dubai's digital asset ecosystem.

The acquisition of this license comes at a pivotal moment for Bybit, as it marks a strengthened presence in Dubai where the company established its international headquarters in 2022. This milestone reaffirms Bybit’s dedication to developing its operations under established regulations and actively participating in the burgeoning digital asset sector in Dubai.

Ben Zhou, Co-founder and CEO of Bybit, expressed enthusiasm regarding this achievement, stating, "Dubai has made significant strides in creating a regulatory environment for virtual assets, and we are excited to reach this new milestone in our journey here. We look forward to continuing our work in Dubai, supporting the local digital asset community while operating within the standards set by VARA."

Long-Term Commitment: Building a Sustainable Digital Asset Market

Peter Loo, the Chief Legal and Compliance Officer at Bybit, emphasized the significance of obtaining the VARA license, remarking, "This is a major advancement for Bybit. We hold great respect for VARA's efforts in establishing a clear and solid framework for virtual assets. A healthy digital asset market requires stringent oversight, sound risk management, and a commitment to user protection. We’re excited to work alongside VARA as we expand our operations in Dubai."

In addition to offering spot trading services, Bybit aims to broaden its range of services to include derivatives trading pending necessary regulatory approvals. Derivative products represent a substantial portion of Bybit’s global trading activities, and the company is eager to extend these offerings in Dubai while adhering to local regulatory processes.

This latest achievement fits into Bybit’s comprehensive strategy of expanding its presence in various markets according to local requirements. The company continues to invest in compliance, security, and risk management while tailoring products and services for users in different jurisdictions.

Zhou also highlighted Bybit’s regulatory progress throughout 2026. During his recent opening speech, he detailed five new licenses and regulatory approvals acquired in multiple regions, including the European Union, the Cayman Islands, Indonesia, South Africa, and El Salvador. These developments showcase Bybit’s ongoing commitment to collaborate with regulatory authorities and obtain the required approvals for its international expansion.

Supporting Dubai’s Digital Asset Ecosystem

Since establishing its international headquarters in Dubai, Bybit has actively contributed to the growth of the emirate’s blockchain and Web3 ecosystem through engagement with the industry, partnerships, and initiatives that promote knowledge sharing and collaboration. The regulatory framework and global standing of Dubai position it as a crucial market for the ongoing development of digital assets.

Bybit aspires to strengthen its presence in Dubai further by collaborating with relevant stakeholders and developing its services in accordance with applicable regulations.

About Bybit

Bybit is a new financial platform that believes everyone should have access to the diverse financial opportunities available worldwide. Our goal is to build an intelligent platform that enables individuals, regardless of their location, to access the world of finance. Trusted by more than 80 million users globally, Bybit integrates investment, trading, payments, and wealth building into a unique, secure, and intelligent ecosystem. By leveraging AI-optimized technology, vast global liquidity, robust security, and operational transparency, Bybit is making global finance more accessible, efficient, and inclusive.

To learn more, visit Bybit.com. For further information about Bybit, go to Bybit Press.