Bybit secures VARA license for Dubai exchange services

Bybit Secures VARA License for Spot Exchange Services in Dubai

Bybit, a financial platform used by more than 80 million people worldwide, announced that Bybit Fintech FZE has received a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA). The license covers exchange services for spot trading.

The approval expands Bybit's operations in Dubai, where the company opened its international headquarters in 2022. It also allows Bybit to continue growing its business under local regulations and take part in Dubai's digital asset sector.

Bybit Co-founder and CEO Ben Zhou said the company welcomed the next step in its work in Dubai. He praised the emirate's progress in regulating virtual assets and said Bybit plans to support the local digital asset community while following VARA's requirements.

Building for the Long Term

Bybit Chief Legal and Compliance Officer Peter Loo said the license was an important step for the company. He also recognized VARA's work to create a clear regulatory framework for virtual assets. According to Loo, a well-functioning digital asset market requires strong oversight, effective risk management, and user protections.

Bybit plans to continue working with VARA as it develops its business in Dubai. Loo said the company hopes to add derivatives trading to its licensed services in the future, subject to regulatory approval. Derivatives make up a major part of Bybit's global trading business, and the company wants to offer more of its services in Dubai through the proper approval process.

The license is part of Bybit's effort to meet local rules in each market where it operates. The company says it continues to invest in compliance, security, and risk management as it develops services for users in different jurisdictions.

Bybit's Dubai approval comes as the company reports wider regulatory progress in 2026. In an October keynote, Zhou highlighted five new licenses and regulatory approvals in the European Union, the Cayman Islands, Indonesia, South Africa, and El Salvador.

These approvals reflect Bybit's focus on working with regulators and securing the permissions it needs to expand internationally. The company says local compliance and strong regulatory relationships help build trust with users and market participants.

Supporting Dubai's Digital Asset Ecosystem

Since opening its international headquarters in Dubai in 2022, Bybit has taken part in the emirate's blockchain and Web3 community through industry events, partnerships, and knowledge-sharing initiatives.

Dubai's regulatory framework and international reach make it an important market for digital assets. Bybit plans to continue developing its presence in the emirate and work with local stakeholders while meeting applicable regulatory requirements.