Bybit has secured a Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA) for exchange services covering spot trading. The approval, announced on October 22, 2026, strengthens the platform’s regulatory standing in the emirate where it established its international headquarters in 2022.
- Licence Type: Virtual Asset Service Provider (VASP) for Exchange Services
- Regulator: Dubai Virtual Assets Regulatory Authority (VARA)
- User Base: More than 80 million users worldwide
- HQ Established: 2022
- 2026 Regulatory Milestones: Five new licences and approvals across the European Union, Cayman Islands, Indonesia, South Africa, and El Salvador
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. 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.
– Ben Zhou, Co-founder and CEO, Bybit
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. 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.
– Peter Loo, Chief Legal and Compliance Officer, Bybit
Bybit plans to pursue additional licences covering derivatives trading, which form a significant portion of the platform’s global business. The company said it will pursue such approvals through the appropriate regulatory process. The licence reflects Bybit‘s broader strategy of securing locally compliant permissions across jurisdictions, with the platform citing its commitment to compliance, security, and risk management as it expands internationally.
Since 2022, Bybit has engaged with Dubai’s blockchain and Web3 ecosystem through partnerships and industry initiatives. The platform operates an ecosystem combining investing, trading, payments, and wealth-building services, serving more than 80 million users globally.
Ben Zhou, Co-founder and CEO of Bybit. Source: LinkedIn
Peter Loo, Chief Legal and Compliance Officer at Bybit. Source: LinkedIn
