Bybit says it has become the first cryptocurrency exchange to receive a full Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE).
It’s a regulatory first for the Gulf nation and a significant step in the country’s bid to establish itself as a global hub for compliant digital finance.
The license, announced on Thursday, grants Bybit authorization to operate regulated trading, brokerage, custody, and fiat conversion services for both retail and institutional clients across the UAE.
Bybit’s achievement follows its In-Principle Approval (IPA) from the SCA in February 2025, obtained with guidance from the Blockchain Center in Abu Dhabi, which helped the exchange navigate the SCA’s compliance framework.
The SCA’s approval makes Bybit the first exchange officially recognized under the UAE’s Virtual Asset Service Provider (VASP) rules, reflecting the nation’s push to align with Vision 2031 and international financial standards.
Co-founder and CEO Ben Zhou said the license demonstrates Bybit’s commitment to “building trust through compliance and transparency.” The company will now expand its regional headquarters in Abu Dhabi, planning more than 500 local hires and launching education and Web3 innovation programs in partnership with local institutions.
Co-CEO Helen Liu credited the SCA’s “clear, well-structured regulatory framework” for enabling compliant innovation in digital assets.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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Source: https://blockworks.co/news/bybit-uae-virtual-asset-license