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| Foto:Vistorbelitung |
VISTORBELITUNG.COM,DUBAI/ABU DHABI – In a major milestone solidifying the United Arab Emirates' position as a global digital asset hub, the crypto exchange Bybit has officially become the first platform to receive a full Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the UAE.
This full federal approval grants Bybit a significant competitive advantage, allowing it to offer regulated Bitcoin and cryptocurrency trading, brokerage, custody, and fiat conversion services across all seven Emirates, moving beyond the regional jurisdiction of authorities like Dubai's Virtual Assets Regulatory Authority (VARA).
The announcement marks the culmination of an intense regulatory process for Bybit, the world’s second-largest crypto exchange by trading volume. The company had initially received its In-Principle Approval (IPA) from the SCA in February 2025.
Ben Zhou, Co-founder and CEO of Bybit, emphasized the importance of this compliance-first approach.
"Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit's unwavering commitment to building trust through compliance and transparency," Zhou said. "The UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards."
For the UAE, this licensing event is seen as a key step toward achieving its Vision 2031 goals of aligning with international financial standards and attracting leading global FinTech companies.
Expanding Operations and Talent
With the full license in hand, Bybit is poised to significantly expand its footprint in the Gulf nation. The exchange plans to:
Establish a Regional Hub in Abu Dhabi, solidifying the capital as its core operational center.
Massive Hiring Push: The company intends to hire more than 500 local staff across Abu Dhabi and Dubai for compliance, operations, and customer service roles.
Promote Education: Launch local education initiatives and Web3 innovation programs in partnership with UAE institutions.
This federal approval distinguishes Bybit from rivals, some of whom operate under provisional or more geographically restricted licenses. By obtaining the full SCA license, Bybit can now offer its complete suite of global products to both retail and institutional clients nationwide in a fully regulated environment, setting a new benchmark for secure and compliant digital asset services in the region.