Bybit Secures VARA License for Cryptocurrency Trading in Dubai

Bybit, a prominent financial platform trusted by over 80 million users globally, has reached a significant milestone by obtaining a Virtual Asset Service Provider (VASP) license from the Virtual Assets Regulatory Authority (VARA) in Dubai. This license enables them to engage in cryptocurrency trading, particularly in spot trading. This achievement follows Bybit's establishment of its international headquarters in Dubai in 2022, underscoring its commitment to regulatory compliance and the development of the digital asset ecosystem in the region.

Ben Zhou, Co-founder and CEO of Bybit, expressed enthusiasm over this progression, remarking, "Dubai has made considerable strides in establishing a regulatory framework for virtual assets. We are excited to take this next step as we continue to support the local community around digital assets and further expand our operations in line with VARA standards."

The VARA license represents not just a regulatory achievement but a strategic step for Bybit as it seeks to broaden its activities while adhering to existing regulatory frameworks. Peter Loo, Chief Legal and Compliance Officer at Bybit, emphasized the importance of stringent oversight for a healthy digital asset market, as well as the necessity for robust risk management and user protection. He noted, "Our aim is to collaborate closely with VARA as we continue to expand our activities in Dubai, with long-term goals of extending our licensed operations into derivatives, contingent upon securing the necessary approvals."

This license aligns with Bybit's broader strategy to scale operations in various markets according to local requirements. The platform remains dedicated to investing in compliance, security, and risk management while developing products and services catered to different jurisdictions.

The acquisition of this new license in Dubai builds on Bybit's regulatory advancements in 2026, which include new licenses and approvals obtained from regulators in the European Union, the Cayman Islands, Indonesia, South Africa, and El Salvador. Such developments illustrate Bybit's ongoing commitment to fostering good relationships with regulators and ensuring compliant services as it expands internationally.

Since establishing its office in Dubai, Bybit has also actively contributed to the burgeoning blockchain and Web3 ecosystem within the emirate, engaging with the sector through partnerships and initiatives designed to promote knowledge sharing and collaboration.

With a favorable regulatory framework and an expansive international reach, Dubai has emerged as a vital market for the development of digital assets. Bybit aims to further solidify its presence in the emirate by collaborating with relevant stakeholders and advancing its offerings in line with local regulations.

Bybit considers itself as a pioneer in creating accessible financial opportunities for everyone, delivering a secure and intelligent ecosystem that amalgamates investing, trading, payments, and wealth-building tools into one user-friendly platform. With AI-driven technology and extensive global liquidity, Bybit continues to set out to make the financial world more accessible and efficient for users.

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