Key facts
- Bybit secured a full VASP license from Dubai's VARA.
- The license allows Bybit to offer regulated spot trading services in the UAE.
Bybit has received a full Virtual Asset Service Provider license from Dubai's Virtual Assets Regulatory Authority, enabling spot trading services in the UAE. The exchange aims to expand its licensed operations and introduce derivatives trading, pending further regulatory approval.
The license allows Bybit to expand its regulated operations in a key market, enhancing its presence in the Middle East and potentially influencing regional crypto regulatory standards.
Bybit has obtained a full Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA), permitting the cryptocurrency exchange to offer regulated spot trading services within the UAE. The exchange established its international headquarters in Dubai in 2022 and received provisional approval from VARA in August 2024. Bybit intends to seek further regulatory approval for derivatives trading, which constitutes a significant portion of its global business. This development follows Bybit's acquisition of various licenses and regulatory approvals in other jurisdictions, including the European Union, Cayman Islands, Indonesia, South Africa, and El Salvador in 2026. Other crypto firms, such as Kraken, have also received full VARA approval, while Robinhood secured approval from Dubai's Financial Services Authority for retail investment services within the Dubai International Financial Centre.
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