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Licensing

Bybit's licence in Dubai

Where it stands now. Bybit holds a VARA licence for spot trading in Dubai; it does not cover derivatives.

The record 1 development

  1. · in Issue 4

    Bybit gets a Dubai licence for spot trading

    What happened. Bybit's Dubai company, Bybit Fintech FZE, received a licence from Dubai's crypto regulator VARA for exchange services, meaning spot trading. Bybit announced it on 22 October.

    Why it matters. Dubai has been Bybit's international headquarters since 2022, so this licenses its home market. It does not cover derivatives; Bybit says it will seek that, subject to approval.

    • Bybit says it has more than 80 million users worldwide.
    • This year it has gained five other licences or approvals: in the EU, the Cayman Islands, Indonesia, South Africa and El Salvador.
    • Its chief executive, Ben Zhou, said Bybit will follow VARA's rules and keep expanding in Dubai.
    Read the originals (3), usually in their own language