The world’s second-largest cryptocurrency exchange by trading volume has become the first platform to receive a virtual asset platform operator license from the UAE Securities and Commodities Authority (further Management).
The agency issued preliminary approval bybit back in February 2025.
Receiving a full virtual asset platform operator license from the Authority is a testament to the Authority’s unwavering commitment bybit building trust through compliance and transparency.
The UAE has become a global leader in digital asset regulation, and this recognition underlines the strength of our security and governance standards, he said. co-founder and chief executive officer bybit Ben Zhou.
The full virtual asset platform operator license issued by the Authority allows bybit Expand its range of services in the UAE, including cryptocurrency trading, brokerage services, and asset custody. The exchange can now provide these services to both retail and institutional clients.
An exchange spokesperson also stated that it plans to hire local employees to “ensure compliance, operations, and customer service.” It is reported that bybit will collaborate with companies from the UAE, but their names have not yet been disclosed.