Spot Trading Authorised Under VARA Framework

Bybit Fintech FZE, the exchange’s Dubai-based entity, now holds a Virtual Asset Service Provider licence that explicitly covers exchange services for spot trading in virtual assets. The authorisation, referenced as VL/26/10/003 in the regulator’s public register, permits the licensed company to serve retail, qualified and institutional investors. VARA recorded the issue date of the licence as 20 June 2026, although the company publicly announced the approval on 22 October 2026.

The framework limits activities to those specified under VARA’s exchange rules and does not automatically extend to every product offered on Bybit’s broader international platform. This marks four years after the exchange established its international headquarters in Dubai in 2022.

Bybit’s Path to Full Dubai Presence

Earlier provisional approval from VARA in 2024 enabled Bybit to complete remaining requirements for a full operating licence. The current authorisation represents a distinct process from the Securities and Commodities Authority approval granted to the broader UAE entity in October 2025, which does not encompass Dubai-specific virtual asset activities.

Derivatives Expansion Still Conditional

Spot trading permission does not extend to derivatives. Bybit has indicated it will pursue separate regulatory approval for leveraged futures and other derivatives products, which form a significant portion of its global trading volume. The exchange noted that derivatives require additional permissions covering client eligibility, risk management and financial safeguards.

Leadership on Long-Term Dubai Commitment

Co-founder and CEO Ben Zhou described the licence as “another step in building for the long term,” emphasising trust, compliance and local commitment. He added that Dubai has been an important part of Bybit’s journey since the international headquarters opened in 2022.

Zhou also stated that Dubai has made significant progress in building a regulatory environment for virtual assets and that Bybit looks forward to continuing its work in line with VARA standards.

Broader 2026 Regulatory Milestones

The Dubai approval forms part of Bybit’s international licensing drive. In an October company keynote, Zhou highlighted five new licences and regulatory approvals obtained during the year across the European Union, the Cayman Islands, Indonesia, South Africa and El Salvador. The company’s global platform serves more than 80 million users worldwide.

Ecosystem Engagement in Dubai

Since opening its international headquarters in 2022, Bybit has actively participated in the emirate’s blockchain and Web3 ecosystem through industry engagement, partnerships and knowledge-sharing initiatives. The company intends to continue supporting local stakeholders while developing services in accordance with applicable regulatory requirements.