Bybit Becomes First Licensed Virtual Asset Platform Operator in UAE

Bybit Achieves Historic Licensing Milestone in the UAE

In an exciting development for the cryptocurrency landscape, Bybit, the second-largest cryptocurrency exchange globally by trading volume, has successfully secured its first official license as a virtual asset platform operator from the Securities and Commodities Authority (SCA) in the United Arab Emirates (UAE). This landmark achievement positions Bybit as the first crypto exchange to receive a full license from the SCA, reinforcing the UAE’s commitment to establishing itself as a global hub for digital assets.

The licensing signifies full compliance with local regulations, ensuring that Bybit’s existing products and services meet the stringent standards required by the UAE’s regulatory framework. Bybit’s CEO, Ben Zhou, articulated the importance of this development, noting that it reflects the company’s steadfast dedication to building trust through compliance and transparency. Zhou emphasized the UAE's emergence as a leading nation in digital asset regulation and how this step aligns with Bybit's long-term global strategy.

A Step Towards Local Integration

Initially granted a preliminary approval (IPA) by the SCA in February 2025, Bybit navigated through the regulatory landscape with the assistance of the Blockchain Centre in Abu Dhabi. The complete licensing is a vote of confidence in Bybit’s robust security infrastructure and transparent operations. This success comes on the heels of several regulatory milestones for Bybit in 2025, including receiving a MiCAR license in May and resuming full trading operations in India in September.

Ben Zhou went on to discuss the importance of regulation as a foundation for sustainable growth, highlighting that this milestone is part of Bybit's broader regulatory roadmap, which spans from MiCAR in Europe to markets in India and the UAE. Bybit aims to set new benchmarks for a secure and responsible ecosystem for digital assets, adapting to local market needs and conditions.

Expanding Operations and Future Plans

Bybit plans to offer regulated trading services for virtual assets, brokerage, custodial services, and exchanges between virtual assets and fiat currencies for individual and institutional clients in the UAE. The exchange intends to expand its local footprint by establishing a larger regional operational hub in Abu Dhabi, creating over 500 job opportunities in both Abu Dhabi and Dubai. Efforts will focus on hiring in compliance, operations, and customer service, while the company collaborates with local partners on new educational programs and Web3 innovations.

Helen Liu, Co-CEO of Bybit, expressed gratitude to the SCA for their support during the licensing process, praising the authority’s robust regulatory framework that offers a solid foundation for global exchanges to operate confidently and transparently.

Bybit's strategic investments in talent, technology, and infrastructure highlight its commitment to supporting the UAE’s aspirations to become a leading global center for digital assets and financial innovation. Bybit continues to forge ahead, redefining openness in the decentralized world and breaking down barriers between traditional finance (TradFi) and decentralized finance (DeFi), empowering developers, creators, and enthusiasts to unlock Web3’s full potential.

Conclusion

As Bybit embarks on this new chapter, it remains dedicated to fostering innovation in the digital asset space, ensuring that it adheres to high governance and security standards. The notable achievement of securing this operational license sets a precedent not only for Bybit but also for the broader cryptocurrency ecosystem in the UAE and beyond, marking a transformative moment in the evolution of digital finance.