KEY TAKEAWAYS
- Bybit secures the UAE’s first Virtual Asset Platform Operator License from the SCA, marking a significant regulatory milestone.
- This license allows Bybit to offer a full range of compliant services in the UAE, enhancing its global presence.
- Bybit plans to expand its operations in Abu Dhabi, supporting the UAE’s ambition to become a digital asset hub.
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced that it has secured the Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE). This makes Bybit the first crypto exchange to obtain this full license from the SCA, marking a significant milestone in the UAE’s ambition to become a global digital asset hub. The announcement was made here.
This licensing allows Bybit to bring its full range of global products and services into compliance with UAE regulations. It underscores Bybit’s commitment to maintaining high standards of quality and service through rigorous compliance frameworks, both locally and globally.
Bybit’s Regulatory Journey
Bybit initially received its In-Principle Approval (IPA) from the SCA in February 2025, with assistance from the Blockchain Centre, Abu Dhabi, in navigating the SCA’s regulatory framework. The full license now granted reflects the regulator’s confidence in Bybit’s security infrastructure, operational transparency, and compliance standards.
This achievement is part of a series of regulatory milestones for Bybit in 2025, including securing its MiCAR license in May and resuming full trading operations in India in September. These developments are part of Bybit’s strategy to expand its presence under a compliance-first roadmap across key global jurisdictions.
Future Plans in the UAE
Under the SCA’s Virtual Asset Platform Operator License, Bybit will offer regulated virtual asset trading, brokerage, custody, and fiat conversion services to both retail and institutional clients across the UAE. The exchange plans to expand its local presence by establishing a larger regional operations center in Abu Dhabi, employing over 500 staff across Abu Dhabi and Dubai.
Bybit also aims to accelerate local hiring in compliance, operations, and customer service, and introduce new education and Web3 innovation programs in collaboration with local partners. This continued investment in talent, technology, and infrastructure aligns with Bybit’s long-term commitment to supporting the UAE’s goal of becoming a global hub for digital assets and financial innovation.
Why This Matters: Impact, Industry Trends & Expert Insights
Bybit has secured the UAE’s first Virtual Asset Platform Operator License from the Securities and Commodities Authority, marking a significant milestone in the UAE’s journey to becoming a global hub for digital assets.
A recent CoinGeek report highlights that the UAE’s digital asset market is experiencing rapid growth with projections of a 42% CAGR from 2025 to 2030. This aligns with Bybit’s strategic move to expand its operations in the UAE, enhancing regulatory legitimacy and market expansion.
Industry experts highlight that Dubai and the UAE have intensified their regulation of the cryptocurrency sector, creating a more institutionalized and transparent crypto market. This supports Bybit’s achievement in securing the license, as it reinforces investor confidence and aligns with the UAE’s ambition to be a leading crypto hub.
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