TLDR
- Bybit received a Virtual Asset Platform Operator License from the UAE’s Securities and Commodities Authority, marking the first full license granted by the SCA to a crypto exchange
- The approval arrived eight months after in-principle approval in February 2025
- The license permits trading, brokerage, custody, and fiat conversion services across the UAE mainland
- Bybit will open a regional operations center in Abu Dhabi employing over 500 people
- The SCA license has broader scope than Dubai’s VARA framework, covering all UAE mainland operations
The Securities and Commodities Authority of the United Arab Emirates has granted Bybit a Virtual Asset Platform Operator License. The crypto exchange announced the regulatory approval on Thursday, becoming the first platform to receive this full license from the SCA.
The license enables Bybit to provide regulated crypto trading, brokerage, custody, and fiat conversion services throughout the UAE. Both retail and institutional investors can access these services under the new regulatory framework.
Bybit received in-principle approval from the SCA in February 2025. The full license came eight months after that initial approval.
The SCA license covers the UAE mainland and extends beyond Dubai’s jurisdiction. This gives Bybit broader regulatory coverage than the Virtual Assets Regulatory Authority framework that governs Dubai specifically.
Bybit CEO Ben Zhou stated the license reflects the exchange’s focus on compliance and transparency. He described the UAE as a leader in digital asset regulation.
Regional Expansion and Hiring Plans
The exchange plans to establish a regional operations center in Abu Dhabi. The facility will employ more than 500 people across Abu Dhabi and Dubai.
Bybit intends to accelerate hiring in compliance, operations, and customer service roles. The company will also launch education and Web3 innovation programs with local partners.
The Blockchain Centre Abu Dhabi assisted Bybit through the SCA regulatory process. The organization helped the exchange navigate the framework to obtain approvals.
Bybit currently holds a provisional license under Dubai’s VARA framework. The exchange received a non-operational license from VARA in September 2024.
Multi-Jurisdiction Regulatory Strategy
The SCA and VARA announced a partnership in August focused on unifying crypto regulations. The partnership includes licensing reciprocity between the two regulatory bodies.
Bybit has pursued regulatory approval across multiple regions in 2025. Austrian authorities granted the exchange a license in May.
The platform registered in India in February after suspending service temporarily. Bybit paid a $1 million fine for compliance violations before restarting operations.
In September, Bybit resumed full trading in India. The exchange also obtained a Markets in Crypto Assets license in Europe this year.
Bybit ranks as the second-largest cryptocurrency exchange globally by trading volume. The company continues expanding its regulatory presence across international markets.
The exchange will offer virtual asset trading, brokerage, custody, and fiat conversion under the SCA license. Services will be available to both retail and institutional clients throughout the UAE.
The full licensing approval positions Bybit to operate across the entire UAE mainland. The exchange can now provide regulated crypto services beyond Dubai’s specific jurisdiction.
