Bybit has secured in-principle approval (IPA) from the UAE’s Securities & Commodities Authority (SCA) to operate as a virtual asset platform operator in the country.
Bybit is the world’s second-largest cryptocurrency exchange by trading volume and once fully licensed it will be able to offer a wide range of digital asset services to both retail and institutional clients in the UAE. This approval is a key milestone in Bybit’s expansion, following similar regulatory successes in other Middle Eastern markets.
The UAE has quickly established itself as a leading global hub for cryptocurrency and blockchain innovation, with a forward-thinking regulatory framework that aligns with Bybit’s goal of bridging traditional finance with digital assets. This marks a significant step in its mission to provide a secure and compliant platform for crypto traders in the region.
Gulf Economist Staff Writer