Key Notes
- The digital asset platform intends to establish a regional hub in Abu Dhabi, employing more than 500 people across various locations in the UAE.
- Bybit will provide compliant trading, brokerage, secure asset storage, and traditional currency conversion solutions for both individual and institutional clients.
- This licensing is a crucial step in Bybit’s broader strategy to expand its footprint in the Middle East, which includes the development of tokenized investment products.
Bybit, a cryptocurrency exchange based in the British Virgin Islands, has announced that it has been granted a Virtual Asset Platform Operator License by the Securities and Commodities Authority (SCA) in the United Arab Emirates (UAE).
According to a press release issued on October 9th, Bybit is the first digital asset trading platform to achieve full regulatory approval within the UAE. Ben Zhou, CEO and co-founder of Bybit, characterized the awarding of the full Virtual Asset Platform Operator License by the SCA as “evidence of Bybit’s dedication to fostering confidence via compliance and transparency” and noted the UAE’s rise as a prominent global center for digital asset regulation.
Bybit Secures UAE’s First Virtual Asset Platform Operator License from Securities and Commodities Authority
Ben Zhou, Co-founder and CEO of Bybit, said: “Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit’s unwavering commitment to… pic.twitter.com/IH5p3GbODz
— Bybit (@Bybit_Official) October 9, 2025
Expansion Strategy Focused on the UAE and Beyond
As Bybit increases its presence within the UAE, the exchange has stated its intention to offer compliant virtual asset trading, brokerage services, secure custody solutions, and fiat-to-crypto conversion services to both retail traders and large institutional investors. The company plans to establish a “significant regional operations center in Abu Dhabi, employing over 500 individuals across both Abu Dhabi and Dubai.”
This expansion appears to be a component of a broader, long-term strategy focused on expanding the company’s operational presence throughout the Middle East. According to recent reports from Coinspeaker, Bybit recently formed a strategic alliance with Qatar National Bank (QNB) and financial infrastructure firm DMZ Finance to develop a tokenized money market fund (MMF), referred to as QCDT, which is reportedly the first tokenized MMF to be approved by the DFSA.
Growth of Crypto Exchanges Reflects Mainstream Adoption
Bybit currently ranks as the second-largest cryptocurrency exchange globally, reporting a 24-hour trading volume of $5.1 billion at the time of this report, according to data provided by CoinMarketCap.
Binance, the world’s largest cryptocurrency exchange, leads the market with a 24-hour trading volume of $29.7 billion during the same period. Coinbase Exchange holds the third position with a recent 24-hour volume of $3.1 billion.
These figures come as interest in cryptocurrency and digital asset products is climbing fueled by growing acceptance among governments and everyday users around the globe. Cryptocurrency exchanges, in particular, have benefited from heightened market activity and the development of new products and services as regulatory landscapes become increasingly clear.
Binance, for instance, recently partnered with a major Spanish banking institution, BBVA, to explore potential crypto custody solutions. At the same time, Binance Coin
BNB
$1 241
24h volatility:
5.2%
Market cap:
$172.25 B
Vol. 24h:
$6.96 B
surpassed both XRP
XRP
$2.80
24h volatility:
3.6%
Market cap:
$167.65 B
Vol. 24h:
$5.20 B
and USDT on October 7th to claim the position of the third-largest cryptocurrency globally based on market capitalization. Currently, USDT has regained the third spot, with BNB closely following in fourth.
Disclaimer: Coinspeaker is committed to delivering transparent and unbiased reporting. This article aims to provide accurate and current information but should not be considered as financial or investment advice. Due to rapidly changing market dynamics, readers are encouraged to independently verify information and consult with qualified professionals before making any decisions based on this content.
Tristan is a technology journalist and editorial leader with 8 years of experience covering science, deep tech, finance, politics, and business. Before joining Coinspeaker, he wrote for Cointelegraph and TNW.