Bybit Fintech FZE has received regulatory approval for spot trading,\nstrengthening the company\u2019s commitment to regulatory compliance and the\ndevelopment of Dubai\u2019s digital-asset ecosystem.<\/p>\n
Dubai, United Arab Emirates (ANTARA\/PRNewswire) \u2013 Bybit, The New\nFinancial Platform trusted by more than 80 million users worldwide,\nannounced that Bybit Fintech FZE has obtained a Virtual Asset Service\nProvider (VASP) licence from Dubai\u2019s Virtual Assets Regulatory Authority\n(VARA) for crypto-asset exchange services, including spot trading.<\/p>\n
The licence marks an important development in Bybit\u2019s efforts to\nstrengthen its presence in Dubai, where it has had its global\nheadquarters since 2022. It also supports the company\u2019s ongoing efforts\nto grow its business within the established regulatory framework and\ncontribute to the development of Dubai\u2019s digital-asset industry.<\/p>\n
\u201cDubai has made significant progress in building a regulatory\nframework for virtual assets. We are pleased to take the next step in\nour journey in Dubai,\u201d said Ben Zhou, Bybit\u2019s co-founder and chief\nexecutive. \u201cWe want to continue operating in Dubai, supporting the local\ndigital-asset community and growing our business in compliance with the\nstandards set by VARA.\u201d<\/p>\n
\u201cThis licence is an important step for Bybit. We greatly appreciate\nVARA\u2019s efforts in establishing a clear and robust regulatory framework\nfor virtual assets,\u201d said Peter Loo, Bybit\u2019s chief legal and compliance\nofficer. \u201cA healthy digital-asset market requires strong oversight,\nsound risk management and a commitment to protecting users. We want to\ncontinue working with VARA as our business grows in Dubai. Looking\nahead, we also hope to expand our authorised activities to include\nderivatives trading, subject to regulatory approval. Derivatives are an\nimportant part of Bybit\u2019s global trading business, and we want to bring\nmore of our services to Dubai through the appropriate regulatory\nchannels.\u201d<\/p>\n
For Bybit, the licence is part of a broader effort to develop its\nbusiness in each market in accordance with local regulations. The\ncompany continues to invest in regulatory compliance, security and risk\nmanagement as it develops products and services for users across\ndifferent jurisdictions.<\/p>\n
The Dubai milestone follows Bybit\u2019s progress in meeting regulatory\nrequirements during 2026. In an update in October, Ben highlighted five\nnew licences and regulatory approvals obtained by Bybit in 2026 in the\nEuropean Union, the Cayman Islands, Indonesia, South Africa and El\nSalvador.<\/p>\n
These developments reflect Bybit\u2019s focus on working with regulators\nand securing licences as it expands globally. The company believes\nstrong relationships with regulators and services that comply with local\nrequirements are important to building long-term trust among users and\nmarket participants.<\/p>\n
Since establishing its global headquarters in Dubai in 2022, Bybit\nhas participated in the development of the market\u2019s blockchain and Web3\necosystem through industry engagement, partnerships and initiatives\nsupporting knowledge exchange and collaboration.<\/p>\n
Dubai\u2019s regulatory framework and global reach make it an important\nmarket for the development of digital assets. Bybit aims to strengthen\nits presence there, work with relevant stakeholders and develop its\nservices in line with applicable regulatory requirements.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/bybit-secures-vara-licence-for-crypto-asset-exchange-services-in-dubai-1792752872", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }