DUBAI, UAE, Oct. 22, 2026 — Bybit Fintech FZE, the Dubai-based entity of global crypto exchange Bybit, has secured a Virtual Asset Service Provider (VASP) licence from Dubai's Virtual Assets Regulatory Authority (VARA) for Exchange Services, a category that covers spot trading. The company announced the approval on Oct. 22, 2026, describing it as a reinforcement of its commitment to compliance and to the development of Dubai's digital asset ecosystem.

VARA, established in 2022 as Dubai's dedicated regulator for the virtual assets sector, licenses and supervises firms conducting virtual asset activities in the emirate. Its regime is activity-based, meaning the approval authorizes Exchange Services — the buying and selling of digital assets for immediate settlement — and does not by default extend to other virtual asset activities. For the Dubai entity, the licence places its spot trading operations inside a formally supervised framework.

Bybit, which positions itself as the New Financial Platform and says it is trusted by more than 80 million users worldwide, established its international headquarters in Dubai in 2022. The licence marks an important milestone in the company's presence in the emirate and supports its continued efforts to build its business within established regulatory frameworks while contributing to the growth of the local digital asset industry.

“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 at 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

Peter Loo, Chief Legal and Compliance Officer at Bybit, said securing the licence is a significant step forward for the company, adding that he has great respect for VARA's work in establishing a clear and robust framework for virtual assets.

“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,” Loo said. “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. In time, we also hope to expand our licensed activities to include derivatives, subject to the necessary regulatory approvals. Derivatives are a major part of Bybit's global trading business, and we want to bring more of our offering to Dubai through the appropriate regulatory process.”

Under Dubai's activity-based licensing system, bringing derivatives to the em would require a separate approval, so Bybit's licensed scope in Dubai remains limited to spot trading for now — making any follow-on permissions from VARA a concrete marker of how the exchange's local roadmap develops. For Bybit, the licence is part of a broader effort to build its business in each market in line with local requirements. The company continues to invest in compliance, security and risk management as it develops products and services for users across different jurisdictions.

Broader Regulatory Progress in 2026

The Dubai milestone comes amid Bybit's wider regulatory progress this year. In his October keynote, Zhou highlighted five new licences and regulatory approvals secured in 2026 across the European Union, the Cayman Islands, Indonesia, South Africa and El Salvador.

Taken together, the approvals span Europe, the Caribbean, Southeast Asia, Africa and Latin America — a footprint that reflects how jurisdiction-by-jurisdiction licensing has become a central plank of global exchange expansion as major markets codify their digital asset rulebooks.

The company said these developments reflect its continued focus on working with regulators and securing the appropriate permissions as it expands internationally. Bybit believes that strong regulatory relationships and locally compliant services are 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 that support knowledge-sharing and collaboration.

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

About Bybit

Bybit is The New Financial Platform. The company believes every person should have access to every financial opportunity on earth and is building the first intelligent platform that connects anyone, anywhere to the world's finance. Trusted by more than 80 million users worldwide, Bybit brings together investing, trading, payments and wealth-building in a single secure and intelligent ecosystem. Through the combination of AI-powered technology, deep global liquidity, robust security and transparent operations, Bybit aims to make global finance more accessible, efficient and empowering for everyone.

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