Bybit Becomes First Cryptocurrency Exchange to Secure UAE Virtual Asset License

Bybit Secures Landmark License in the UAE

In a significant stride for the cryptocurrency industry, Bybit, the world's second-largest crypto exchange by trading volume, has officially announced its acquisition of a virtual asset operator license from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE). This momentous achievement establishes Bybit as the first cryptocurrency exchange to obtain such a comprehensive license from the SCA, highlighting the UAE's commitment to becoming a global hub for digital assets.

Bybit's licensing triumph underscores its dedication to maintaining high standards in product and service quality, derived from rigorous compliance frameworks that extend not only within the UAE but also on a global scale. As Bybit cements its position in the market, it demonstrates a proactive approach in promoting cryptocurrency adoption and ensuring a secure financial environment for its users.

The journey to obtaining this license began when Bybit received preliminary approval (IPA) from the SCA in February 2025, facilitated by the Blockchain Centre in Abu Dhabi, which provided guidance through the SCA's stringent regulatory landscape. This significant milestone reflects the SCA's confidence in Bybit’s robust security infrastructure, operational transparency, and compliance standards.

In addition to this achievement, Bybit has marked several regulatory milestones in 2025, including the acquisition of the MiCAR license in May and the resumption of full trading operations in India in September. This pattern of regulatory advancement underscores Bybit’s ongoing mission to expand its presence in key jurisdictions while adhering to compliance-focused strategies.

Leadership Insights

Ben Zhou, co-founder and CEO of Bybit, remarked, "Securing the full virtual asset operator license from the SCA is a testament to Bybit's ongoing commitment to building trust through compliance and transparency. The UAE has emerged as a global leader in regulating digital resources, and this recognition underscores the strength of our security and governance standards."

He further emphasized, "At Bybit, we view regulation as the foundation for sustainable growth. This milestone marks yet 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."

Helen Liu, co-CEO of Bybit, added her thoughts, stating, "We sincerely thank the Securities and Commodities Authority for their trust and support throughout the authorization process. The SCA’s clear and well-structured regulatory framework provides a solid basis for global exchanges like Bybit to operate with confidence and clarity."

Future Plans in the UAE

With the newly acquired license, Bybit is poised to offer regulated services for virtual asset trading, brokerage, custody, and fiat currency conversion to both retail and institutional clients in the UAE. The exchange plans to expand its local footprint by establishing a larger regional operational center in Abu Dhabi, which will house over 500 employees across Abu Dhabi and Dubai. This growth strategy includes accelerating local hires in compliance, operations, and customer service sectors, alongside introducing new Web3 training and innovation programs in collaboration with local partners.

Bybit's continued investments in talent, technology, and infrastructure reaffirm its long-term commitment to supporting the UAE’s ambition of becoming a global hub for digital resources and financial innovation.

In summary, Bybit's receipt of the UAE virtual asset operator license not only marks a significant achievement for the exchange but also reinforces the UAE's emerging role as a leader in the digital asset regulatory landscape. As this forward-thinking exchange works closely with local authorities and partners, it is set to become an essential player in the region's burgeoning cryptocurrency market.

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