- Bybit received a full Virtual Asset Platform Operator License from the UAE Securities and Commodities Authority (SCA).
- Bybit is the first cryptocurrency exchange to secure this complete license from the SCA.
- The new license allows Bybit to provide trading, brokerage, custody, and fiat conversion services throughout the UAE mainland.
- Bybit plans to expand its presence by growing its regional operations and increasing local hiring in Abu Dhabi and Dubai.
- Bybit received In-Principle Approval in February 2025 and holds regulatory licenses in both the UAE and India.
Bybit, one of the largest cryptocurrency exchanges globally, has obtained a full Virtual Asset Platform Operator License from the United Arab Emirates’ Securities and Commodities Authority (SCA), according to a press release issued on Thursday. This license authorizes Bybit to operate regulated virtual asset trading and related services across the UAE mainland.
The exchange becomes the first to secure the complete license under the SCA framework. Unlike Dubai’s Virtual Assets Regulatory Authority (VARA), the SCA license covers entities operating beyond Dubai, making it broader in geographic scope. Bybit already has a provisional license under VARA as well.
With authorization from the SCA, Bybit will offer regulated services to both retail and institutional clients. These include trading digital assets, brokerage activities, custody solutions, and fiat currency conversion.
The company plans to boost its local operations by establishing a larger regional center in Abu Dhabi. According to Bybit, it intends to employ more than 500 staff between Abu Dhabi and Dubai, focusing on roles in compliance, operations, and customer service. The firm also aims to collaborate with local partners to launch education and Web3 innovation programs.
Bybit received its initial In-Principle Approval from the SCA in February 2025 with support from the Blockchain Centre, Abu Dhabi. Earlier in the year, Bybit earned a Markets in Crypto Assets (MiCA) license within the European Union, and resumed its full trading operations in India in September.
Bybit CEO Ben Zhou stated, “Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit’s unwavering commitment to building trust through compliance and transparency.” For more details, visit the official Bybit site or see coverage on CoinDesk.
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