Bybit Becomes First Exchange to Secure Full UAE Crypto License

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DUBAI, Oct 10 – Bybit has secured the first full Bybit UAE crypto license from Dubai’s Virtual Assets Regulatory Authority (VARA), becoming the only cryptocurrency exchange to complete the full approval process in the United Arab Emirates.

The license clears Bybit to run trading, custody and fiat services. It also signals Dubai’s intent to tighten its role as a hub for digital finance.

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

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… pic.twitter.com/IH5p3GbODz

— Bybit (@Bybit_Official) October 9, 2025

Bybit, launched in 2018, has grown into one of the sector’s largest exchanges. Chief Executive Ben Zhou said the approval was “recognition of the compliance standards we have worked hard to build” and called it a turning point for both the company and Dubai’s market.

Other major firms, including Binance, OKX and Crypto.com, have set up regional bases. But they still operate under provisional arrangements. Bybit’s status goes further: a completed license with full operating rights.

Analysts said the step shows regulators are ready to back firms that meet strict conditions. Some expect it will encourage larger institutional flows into the Gulf.

The timing matters. U.S. and European regulators are moving in the opposite direction with tougher rules and higher barriers for exchanges. Dubai is presenting itself as a more predictable base with oversight and government backing.

For traders, the outcome is straightforward: access to a licensed platform in one of the fastest-growing financial regions. Learn more on our Best Crypto Platforms of 2025 guide.

Quick Recap

• Bybit is now the first fully licensed exchange in the UAE.
• VARA granted approval covering trading, custody and fiat services.
• Others remain on provisional status.
• UAE strengthens its case as a digital finance hub.