Bybit Secures UAE’s First Virtual Asset Licence, Eyes Regional Expansion

Bybit has just made a notable stride in its global growth story, bagging the UAE’s first-ever Virtual Asset Platform Operator Licence from the country’s Securities and Commodities Authority (SCA). For those who follow the crypto space closely, this isn’t merely another checkbox ticked—it’s a big deal for regulatory progress in the region. The approval means Bybit now brings its entire product suite, already running across multiple markets, into full compliance here in the Emirates.

The exchange, which ranks as the world’s second largest by trading volume, received its initial thumbs-up back in February 2025 through In-Principle Approval, helped along by the Blockchain Centre in Abu Dhabi. Getting the full licence now suggests the SCA has real confidence in Bybit’s capacity to operate transparently and securely. I reckon that’s no small feat, considering how tight regulations have become around virtual asset platforms globally.

Co-founder and CEO Ben Zhou described the milestone as proof of Bybit’s commitment to trust, compliance, and transparency. He added that the UAE has firmly placed itself among the leaders of digital asset regulation worldwide. His co-CEO Helen Liu shared similar sentiments, praising the SCA for crafting a clear and reliable regulatory structure that lets exchanges like Bybit work with—you know—some genuine peace of mind.

Now, looking ahead, Bybit isn’t just planning to sit pretty with its new credentials. The company aims to set up a beefed-up regional operations centre in Abu Dhabi, targetting over 500 staff across the capital and Dubai. Plans also include expanding local hiring in compliance and support roles—always good news for job seekers—and even launching education and Web3 innovation programs with regional partners. That’s spot on with how the UAE’s been trying to position itself as a magnet for fintech and blockchain talent.

From what I’ve seen covering MENA startups here at Arageek, this sort of regulatory embrace could be a game-changer. It reduces the faff startups often face when entering a market and gives local innovators more confidence to innovate without second-guessing the rules. On the flip side, though, it’ll be interesting to watch whether such frameworks stay flexible enough to adapt to crypto’s lightning-fast evolution.

Either way, Bybit’s UAE chapter signals a clear convergence between compliance and expansion. And if the company sticks to its playbook—balancing openness with prudence—it might just prove that digital finance in this part of the world has turned a real corner.

(And yes, I’m definately keeping an eye on who follows suit next.)

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