Hassan Maishera
TL;DR
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Bybit has secured a Virtual Asset Platform Operator License in the UAE.
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The license allows the crypto exchange to offer regulated virtual asset trading, brokerage, custody, and fiat conversion services.
Bybit Secures the Virtual Asset Platform Operator License in the UAE
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has obtained a Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE).
While announcing this latest development on Thursday, Bybit revealed that it has become the first crypto exchange to obtain this full license from the SCA.
Several cryptocurrency companies with operations in Dubai are regulated under the VARA framework. However, the SCA regulation is wider as it applies to the entire United Arab Emirates mainland and entities outside Dubai’s jurisdiction under VARA.
The SCA Virtual Asset Platform Operator License enables Bybit to offer regulated virtual asset trading, brokerage, custody, and fiat conversion services to both retail and institutional clients across the UAE.
While commenting on this latest development, Bybit CEO Ben Zhou said,
“Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit’s unwavering commitment to building trust through compliance and transparency.”
Bybit added that it intends to expand its presence in the area by establishing a larger regional operations center in Abu Dhabi with over 500 employees across Abu Dhabi and Dubai. The crypto exchange will also introduce new education and Web3 innovation programs in collaboration with local partners.
This latest development comes after Bybit received its In-Principle Approval (IPA) from the SCA in February 2025.
