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Bybit Secures VARA Licence for Exchange Services in Dubai

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Bybit Secures VARA Licence for Exchange Services in Dubai

Bybit, the New Financial Platform trusted by more than 80 million users worldwide, announced that Bybit Fintech FZE has secured a Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA) for Exchange Services, covering spot trading.

The licence marks an important milestone in Bybit’s presence in Dubai, where the company established its international headquarters in 2022. It also supports Bybit’s continued efforts to build its business within established regulatory frameworks and contribute to the development of Dubai’s digital asset industry.

“Dubai has made significant progress in building a regulatory environment for virtual assets, and we are pleased to take this next step in our journey here,” said Ben Zhou, Co-founder and CEO at Bybit. “We look forward to continuing our work in Dubai, supporting the local digital asset community and building our business in line with the standards set by VARA.”

“Securing this licence is a significant step forward for Bybit. We have great respect for VARA’s work in establishing a clear and robust framework for virtual assets,” said Peter Loo, Chief Legal and Compliance Officer at Bybit. “A healthy digital asset market needs strong oversight, sound risk management and a commitment to protecting users. We look forward to continuing our work with VARA as we grow our business in Dubai. In time, we also hope to expand our licensed activities to include derivatives, subject to the necessary regulatory approvals.



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