In a major step for the crypto sector, Bybit has officially become the first exchange to obtain a Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the United Arab Emirates. The milestone positions Bybit as a key player in the country’s regulated digital asset ecosystem, signaling the UAE’s growing commitment to building a transparent, globally aligned crypto framework.

A Landmark Approval Beyond Dubai

Previously operating under a provisional license issued by Dubai’s Virtual Assets Regulatory Authority (VARA), Bybit’s new authorization from the SCA extends its operations across the UAE mainland. This means the exchange can now legally offer crypto trading, brokerage, custody, and fiat conversion services to both retail and institutional clients under a single national framework.

The approval reflects the UAE’s broader vision of integrating virtual assets within its financial system, setting a precedent for how global exchanges might engage with local regulators. Bybit’s compliance with SCA’s stringent standards also strengthens investor confidence and paves the way for enhanced market participation from both individuals and businesses.

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Strengthening Local Presence in the UAE

Bybit has been steadily expanding its footprint in the region. Building on its prior activities in Dubai, the company now plans to establish a regional operations hub in Abu Dhabi while maintaining a strong base in Dubai. This dual presence will support its long-term goal of employing over 500 local professionals, further anchoring the exchange in the UAE’s growing Web3 and fintech ecosystem.

The company also intends to roll out education programs and Web3 innovation initiatives in collaboration with local institutions and partners. These efforts align with the UAE’s digital economy agenda, which emphasizes blockchain innovation, financial inclusion, and workforce upskilling.

Regulatory Clarity and the Road Ahead

Bybit’s achievement represents more than just a regulatory milestone. It’s a shift in how digital asset companies interact with national authorities. The SCA’s framework provides clearer compliance parameters for exchanges, ensuring that retail users and institutions operate within a regulated environment.

This move comes as global exchanges continue to seek stable, forward-looking jurisdictions for digital asset operations. The UAE, through agencies like the SCA and VARA, has positioned itself as one of the few regions offering a clear pathway for crypto licensing and oversight.

Bybit’s expansion also coincides with a broader trend of digital infrastructure growth across the region. Companies like Futurex, for instance, have opened data centers in Dubai and Abu Dhabi to strengthen cybersecurity and cryptographic services, demonstrating a shared push toward secure and compliant digital ecosystems.

Bybit’s Milestone Marks a New Era for UAE Crypto

With the UAE’s first Virtual Asset Platform Operator License, Bybit takes a pioneering role in shaping the region’s regulated crypto landscape. The move not only enhances trust in digital asset trading but also reinforces the UAE’s status as a regional hub for blockchain innovation and financial technology. As Bybit deepens its local engagement and compliance footprint, the development could set the tone for how other exchanges approach regulated crypto expansion across the Middle East.