Bybit wins Dubai VARA licence for spot crypto exchange services
Bybit's Dubai unit has received a VARA licence for spot crypto exchange activity. Derivatives would need separate regulatory approval, the company says.
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what happened
According to newsbtc.com, Bybit says its Dubai entity, Bybit Fintech FZE, has obtained a virtual-asset service provider licence from the Virtual Assets Regulatory Authority (VARA). The permission covers spot cryptocurrency exchange services. Management says it hopes to add derivatives later, but that would require separate regulatory approval.
The announcement came on Thursday. Bybit set up its international headquarters in Dubai in 2022. The company cites more than 80 million users worldwide, but that figure is self-reported and does not show how many customers can open an account under the new licence.
why it matters
The licence covers one defined activity, not every service an exchange offers. For customers, the legal entity, product range and protections can differ between jurisdictions. For the market, this is a targeted development: it expands the regulated footprint of a large platform in one of the most watched crypto hubs.
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- Bybit Wins Dubai VARA Approval For Spot Crypto Exchange Services — newsbtc.com, 24 October 2026 at 09:45 UTC
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