Bybit says its Dubai entity, Bybit Fintech FZE, has secured a virtual asset service provider licence from the emirate’s Virtual Assets Regulatory Authority. The exchange’s October 21 announcement describes approval for exchange services covering spot cryptocurrency trading.
Derivatives are outside the scope described in the release. Chief Legal and Compliance Officer Peter Loo said Bybit hopes to add those activities later, subject to further regulatory approvals. The announcement therefore does not establish permission to offer its global derivatives lineup in Dubai.
Bybit established its international headquarters in Dubai in 2022. CEO Ben Zhou said the company intends to develop its business in line with VARA’s standards and support the local digital-asset community, positioning the licence as part of its longer-term regional expansion.
VARA’s public entry still showed Bybit Fintech FZE’s August 2024 in-principle approval when checked on October 22. A search of the fully licensed list returned no Bybit result. The register therefore had not yet corroborated the newly announced licence; an in-principle approval alone does not permit operations.
CoinScreamer previously covered Bybit’s Middle East expansion, including investment in local talent and regulatory coordination. The latest company statement advances that strategy, while the distinction between spot trading and derivatives remains central to understanding the permissions it describes.
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