TLDR
- Bybit secured a Virtual Asset Platform Operator License from the UAE’s Securities and Commodities Authority, becoming the first crypto exchange to receive this full license from the SCA
- The approval came eight months after Bybit received in-principle approval in February 2025
- The license allows Bybit to offer trading, brokerage, custody, and fiat conversion services to retail and institutional clients across the UAE
- Bybit plans to establish a regional operations center in Abu Dhabi with over 500 employees across Abu Dhabi and Dubai
- The SCA license covers the UAE mainland and is wider in scope than Dubai’s VARA framework, under which Bybit also holds a provisional license
Bybit has received a Virtual Asset Platform Operator License from the Securities and Commodities Authority of the United Arab Emirates. The exchange announced the approval on Thursday, eight months after receiving in-principle approval from the regulator in February 2025.
JUST IN: 🇦🇪 Bybit becomes the first fully operational licensed crypto exchange in the UAE. pic.twitter.com/PxOAnLb1q2
— Watcher.Guru (@WatcherGuru) October 9, 2025
The license allows Bybit to offer regulated virtual asset trading, brokerage, custody, and fiat conversion services throughout the UAE. Both retail and institutional clients will have access to these services under the new license.
Bybit CEO Ben Zhou said the license demonstrates the company’s commitment to compliance and transparency. He called the UAE a global leader in digital asset regulation.
The SCA license covers the UAE mainland and applies outside Dubai’s jurisdiction. This makes it broader in scope than Dubai’s Virtual Assets Regulatory Authority framework.
Bybit already holds a provisional license under the VARA framework. The exchange received a non-operational license from VARA in Dubai in September 2024.
The SCA and VARA announced a strategic partnership in August aimed at unifying crypto regulations. The partnership includes licensing reciprocity, where one authority recognizes licenses approved by another.
Bybit’s Expansion Plans
The exchange plans to expand its presence in the region with a larger operations center in Abu Dhabi. The facility will house over 500 employees across Abu Dhabi and Dubai.
Bybit will accelerate local hiring in compliance, operations, and customer service. The exchange also plans to introduce new education and Web3 innovation programs with local partners.
The Blockchain Centre Abu Dhabi helped Bybit navigate the SCA’s regulatory framework. The center assisted the exchange in obtaining its initial in-principle approval earlier this year.
Recent Regulatory Approvals
Bybit has secured regulatory approval in multiple jurisdictions this year. Austrian authorities granted the company licensing approval in May 2025.
The exchange registered in India in February after briefly suspending its service. Bybit paid a $1 million fine over compliance violations before resuming operations.
In September, Bybit resumed full trading operations in India. The exchange also received a Markets in Crypto Assets license in Europe earlier this year.
Bybit is currently the world’s second-largest cryptocurrency exchange by trading volume. The company has been expanding its regulatory footprint across multiple regions.
