Crypto exchange Bybit has reaffirmed its commitment to the Middle East, appointing Derek Dai as the new country manager for the Middle East and North Africa (MENA) region. Dai will oversee market expansion, regulatory coordination, institutional partnerships, and localized product development across the region. The move comes amid heightened regional tensions following recent military strikes involving the US, Israel, and Iran.
Bybit co-CEO Helen Liu emphasized that the exchange is increasing investment in local talent, regulatory compliance, and community partnerships. She highlighted the UAE’s ambition to become a leading digital asset hub, noting that recent regional instability has reinforced Bybit’s strategic decision to deepen its presence rather than scale back operations. The firm has also implemented employee safety measures, including daily check-ins and travel support.
The UAE hosts roughly 1,800 crypto companies employing over 8,600 people, with financial free zones such as ADGM and DIFC seeing notable growth in licenses and market activity. Bybit aims to expand access to the UAE dirham, foster partnerships with local banks and payment providers, and develop infrastructure linking digital assets to traditional finance, including tokenized real-world assets, as the region emerges as a pivotal hub for crypto adoption.
