DUBAI, UAE — Bybit Fintech FZE has secured a Virtual Asset Service Provider (VASP) licence from Dubai's Virtual Assets Regulatory Authority (VARA) for Exchange Services, an approval covering spot trading. The company announced the milestone on Oct. 22, 2026, in a press release distributed via PRNewswire.

Bybit, which says it is trusted by more than 80 million users worldwide, described the licence as an important milestone in its Dubai presence, where it established its international headquarters in 2022. The company said the approval supports its efforts to operate within established regulatory frameworks and to contribute to the development of the emirate's digital asset industry.

VARA, established in 2022, serves as Dubai's dedicated regulator for virtual assets, responsible for licensing and supervising virtual asset service providers in the emirate. Dubai has sought to position itself as a global hub for the digital asset industry through its purpose-built regulatory regime. For Bybit, that means the exchange services it now offers under the licence sit within an ongoing supervisory relationship with a regulator focused solely on virtual assets — with the current approval scoped to spot trading.

"Dubai has made significant progress in building a regulatory environment for virtual assets, and we are pleased to take this next step in our journey here," said Ben Zhou, co-founder and CEO of Bybit. "We look forward to continuing our work in Dubai, supporting the local digital asset community and building our business in line with the standards set by VARA."

Building for the Long Term

"Securing this licence is a significant step forward for Bybit. We have great respect for VARA's work in establishing a clear and robust framework for virtual assets," said Peter Loo, chief legal and compliance officer at Bybit. "A healthy digital asset market needs strong oversight, sound risk management and a commitment to protecting users. We look forward to continuing our work with VARA as we grow our business in Dubai."

Loo added that Bybit hopes, in time, to expand its licensed activities in Dubai to include derivatives, subject to the necessary regulatory approvals. He noted that derivatives are a major part of Bybit's global trading business and that the company wants to bring more of its offering to Dubai through the appropriate regulatory process. For readers tracking the scope of Bybit's Dubai operations, further word from VARA on derivatives would be the clearest marker of how far the company's licensed offering in the emirate expands beyond spot trading.

Broader Regulatory Push in 2026

The company characterized the licence as part of a broader effort to build its business in each market in line with local requirements, and said it continues to invest in compliance, security and risk management as it develops products and services across jurisdictions.

The Dubai milestone comes amid Bybit's broader regulatory progress in 2026. In his October keynote, Zhou highlighted five new licences and regulatory approvals obtained during the year across the European Union, the Cayman Islands, Indonesia, South Africa and El Salvador. While those approvals spanned other regions, the Dubai licence anchors the company's regulatory standing in the market that has housed its international headquarters 2022.

According to the company, these developments reflect a continued focus on working with regulators and securing the appropriate permissions as it expands internationally. Bybit said it views strong regulatory relationships and locally compliant services as important to building lasting trust with users and market participants.

Supporting Dubai's Digital Asset Ecosystem

Since establishing its international headquarters in Dubai in 2022, Bybit has participated in the emirate's growing blockchain and Web3 ecosystem through industry engagement, partnerships and initiatives supporting knowledge-sharing and collaboration.

The company pointed to Dubai's regulatory framework and international reach as factors that make the emirate a key market for the continued development of digital assets. Bybit said it intends to build on its presence there, working with relevant stakeholders and developing its services in line with applicable regulatory requirements.

Bybit, founded in 2018, describes itself as "The New Financial Platform." According to the company, it combines investing, trading, payments and wealth-building services in a single ecosystem underpinned by AI-powered technology, deep global liquidity and robust security.