Bybit secures license for crypto exchange services in Dubai

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TL;DR: Bybit announced on October 22 that it secured a VARA license for exchange services in Dubai, dated June 20, though one report says the register still showed “Pending.” The approval ends a four-year process and follows its UAE federal license, as Bybit rebuilds trust after its $1.5 billion hack in 2025 and eyes derivatives next.

Key Takeaways:

Dubai-based digital asset exchange Bybit announced on October 22 that it has secured a Virtual Asset Service Provider (VASP) license from Dubai’s digital asset regulator, the Virtual Assets Regulatory Authority (VARA), for exchange services, including spot trading.

According to the regulator’s official register, the license was granted to the company’s local entity, Bybit Fintech FZE, on June 20, 2026, with the firm apparently only now choosing to publicize it. However, digital currency news site Coinlaw claims to have reviewed the register on the day of the announcement and reported that the entry still listed the license’s status as “Pending,” which may explain the four-month delay.

Bybit, the world’s sixth-largest digital asset exchange by trading volume, established its international headquarters in Dubai in 2022. It previously held only provisional, non-operational approval from VARA, although it obtained a federal UAE license from the Securities and Commodities Authority (SCA) in October 2025.