Bybit Secures UAE's First Virtual Asset Platform Operator License from Securities and Commodities Authority - Chainwire

09Oct

Bybit Secures UAE’s First Virtual Asset Platform Operator License from Securities and Commodities Authority

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, today announced that it has officially secured the Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE). Bybit becomes the first crypto exchange to obtain this full license from the SCA, marking a historic milestone in the nation’s vision to establish itself as a global digital asset hub. This licensing brings along with the full product capability of Bybit’s existing global products and services into compliance.

This symbolic milestone demonstrates Bybit’s assurance to users that it is committed to high standards of quality, product and service arising from rigorous compliance frameworks found not just in UAE but also globally. It also demonstrates Bybit’s long term global strategy of being locally enshrined and its commitment to bringing crypto to local markets.

Bybit initially received its In-Principle Approval (IPA) from the SCA in February 2025 with the help of the Blockchain Centre, Abu Dhabi, in navigating SCA’s robust framework. The full license demonstrates the regulator’s trust in Bybit’s robust security infrastructure, operational transparency, and rigorous compliance standards.

This achievement follows 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 — as the exchange continues to expand its presence under a compliance-first roadmap across key global jurisdictions.

Ben Zhou, Co-founder and CEO of Bybit, said:

“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. The UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards.

At Bybit, we see regulation as the foundation for sustainable growth. This milestone marks another step forward in our global regulatory roadmap — from MiCAR in Europe to India and now the UAE — as we continue to set new benchmarks for a secure and responsible digital asset ecosystem.”

Helen Liu, Co-CEO of Bybit, added:

“We sincerely thank the Securities and Commodities Authority for their trust and support throughout the licensing process. The SCA’s clear, robust, and well-structured regulatory framework provides a strong foundation for global exchanges like Bybit to operate with confidence and clarity. This achievement would not have been possible without the SCA’s forward-thinking approach to fostering innovation and compliance in the digital asset space. We look forward to deepening our collaboration as we bring more resources, products, and expertise to the UAE market.”

Bybit’s Upcoming Plan in 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 footprint by establishing a larger regional operations center in Abu Dhabi with over 500 employees across Abu Dhabi and Dubai, accelerating local hiring across compliance, operations, and customer service, and introducing new education and Web3 innovation programs in collaboration with local partners.

Bybit’s continued investment in talent, technology, and infrastructure reaffirms its long-term commitment to supporting the UAE’s ambition to become a global hub for digital assets and financial innovation.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

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