By Asro 
Cryptocurrency exchange Bybit has achieved a significant regulatory milestone in the United Arab Emirates, securing a full virtual asset service provider (VASP) license for exchange services in Dubai following earlier in-principle approval.
According to the company, its dedicated Dubai-based entity, Bybit Fintech FZE, successfully obtained the authorization from Dubai’s Virtual Assets Regulatory Authority (VARA). The newly acquired license specifically authorizes the platform to offer exchange services, with a primary focus on spot trading, catering to a wide spectrum of market participants including retail customers, qualified investors, and institutional clients.
A spokesperson for Bybit clarified the distinction between previous regulatory steps and the newly minted active status, noting that the exchange’s earlier in-principle approval was strictly non-operational and did not grant the firm legal clearance to service customers residing within Dubai. An independent review of VARA’s official public register confirms that the license is now active, formally positioning the exchange to expand its footprint in one of the world’s most rapidly growing digital asset hubs.
Despite the issuance of the active license, Bybit must still navigate the final stages of regulatory compliance before it can officially open its doors to traders in the emirate. The spokesperson confirmed that the exchange is required to complete VARA’s formal launch process and satisfy all remaining operational requirements prior to initiating live spot trading services. At the time of the announcement, the company has not yet disclosed a definitive launch date for the rollout of these services.
The latest development builds upon Bybit’s broader regulatory strategy across the United Arab Emirates. In October 2025, the exchange successfully secured a full Virtual Asset Platform Operator license from the nation’s federal regulator, the Securities and Commodities Authority (SCA). However, the operational scope of that federal approval notably excluded Dubai from the jurisdictions served by its SCA-licensed entity, Bybit Virtual Asset Platform Operator LLC, due to the distinct regulatory frameworks maintained by federal authorities and Dubai’s localized emirate-level regulator, VARA.
When questioned about the jurisdictional interplay between the federal SCA approval and the newly acquired VARA license, the Bybit spokesperson declined to comment on the specific structural differences between the two authorizations or whether the prior federal license permitted any localized services within Dubai.
The regulatory clearance in Dubai arrives amidst a broader wave of institutional collaboration and regulatory maturation within the region. Regulatory bodies across the United Arab Emirates continue to refine their oversight frameworks to foster innovation while maintaining robust consumer protection standards. For instance, regulatory developments in the emirate have increasingly spotlighted areas such as asset tokenization, evidenced by collaborative initiatives and memoranda of understanding established between VARA and various digital asset enterprises to promote safe and compliant market growth.
As Bybit works through the final operational requirements mandated by VARA, the exchange joins a growing cohort of major international cryptocurrency platforms that have sought formal establishment in Dubai. By aligning its operations with the stringent compliance mandates set forth by local regulators, the company aims to solidify its market presence in the Middle East, offering a regulated environment for digital asset trading as the local ecosystem continues to mature.
Sagoh 
Neng Nana 
Lina Hope