Bybit secures active VARA spot trading license in Dubai
Bybit's local entity, Bybit Fintech FZE, has obtained a Virtual Asset Service Provider license from Dubai's Virtual Assets Regulatory Authority to offer spot trading to retail, qualified, and institutional investors.
Bybit Fintech FZE, the Dubai entity of crypto exchange Bybit, has secured a Virtual Asset Service Provider license for exchange services from Dubai's Virtual Assets Regulatory Authority, the company announced on Thursday. The authorization is designated for spot crypto trading, permitting Bybit to serve retail, qualified, and institutional investors across the United Arab Emirates.[4][1][3]
VARA's public register lists the license status as active with an issue date of June 20, 2026, following a provisional, non-operational approval granted under pending status in August 2024. The current license does not include derivatives trading. However, Bybit chief legal and compliance officer Peter Loo stated that the exchange hopes to expand its licensed activities to include derivatives, subject to regulatory approvals.[4][2][1][3]
Bybit established its international headquarters in Dubai in 2022 and claims more than 80 million users globally. Co-founder and CEO Ben Zhou described the approval as the next step in the company's regional journey, bringing Bybit alongside other VARA-licensed firms including Binance, OKX, Gate, and Backpack.[4][3]
Key facts
- Bybit Fintech FZE received a Virtual Asset Service Provider license for exchange services from Dubai's Virtual Assets Regulatory Authority (VARA).
- The license covers spot crypto trading only and permits Bybit to serve retail, qualified, and institutional clients.
- VARA's public register lists the license status as Active with an issue date of June 20, 2026.
- Bybit previously received a provisional, pending license from VARA in August 2024.
- The approval does not cover derivatives, but Bybit plans to seek regulatory approval to add derivatives trading.
- Bybit set up its international headquarters in Dubai in 2022.
- Other crypto exchanges holding VARA licenses include Binance, OKX, Gate, and Backpack.
Sources · 4 sources
- TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Bybit has secured a Dubai VARA license for spot crypto trading through its local entity, Bybit Fintech FZE. The exchange said it planned to seek approval for derivatives trading in the future. https://t.co/al1qHtVReX
Open source - LS
Laura Shin@laurashinPost on X ·
Bybit's legal chief says the exchange hopes to add derivatives in Dubai, subject to approval. Its new VARA license, now listed as active, covers spot trading. https://t.co/8bqLLaOJ1C
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
Bybit Dubai entity secures VASP license from VARA for spot crypto trading Bybit announced on October 22 that its Dubai entity, Bybit Fintech FZE, had secured a Virtual Asset Service Provider (VASP) license from Dubai's Virtual Assets Regulatory Authority (VARA), covering spot crypto trading. Bybit established its international headquarters in Dubai in 2022 and received in-principle approval in 2024. Other exchanges holding VARA licenses include Binance, OKX, Gate and Backpack.
Open source - UN
UnchainedArticle ·
Bybit Lands Active Dubai Spot License Two Years After Provisional Nod Bybit Fintech FZE , the crypto exchange’s Dubai entity, has secured a Virtual Asset Service Provider (VASP) license for exchange services from the emirate’s Virtual Assets Regulatory Authority (VARA) , Bybit announced on Thursday. The license covers spot trading only. VARA’s public register now shows the license with the status Active , permitting Bybit to serve retail, qualified and institutional investors. The register lists an issue date of June 20, 2026, which Bybit’s announcement did not mention. Two years ago, VARA’s register carried a separate record for the same entity. A September 2024 capture of the register showed a license of the same type and activity under a different reference number, issued Aug. 21, 2024, with its status marked Pending . Bybit described that stage at the time as a provisional, non-operational approval. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . Derivatives Not Included The new license does not extend to derivatives. Peter Loo, Bybit’s chief legal and compliance officer, said the company hopes “to expand our licensed activities to include derivatives, subject to the necessary regulatory approvals.” “Derivatives are a major part of Bybit’s global trading business,” Loo said in the release , adding that the exchange wants to offer more of its products in Dubai through the regulatory process. Perpetual futures have come to dominate crypto trading even as overall volumes have slipped, Unchained reported in August. Co-founder and CEO Ben Zhou called the license “this next step in our journey here,” crediting Dubai with building out its rules for virtual assets. Licenses Elsewhere Bybit, which says it has more than 80 million users, set up its international headquarters in Dubai in 2022. The Dubai approval adds to five licenses and regulatory approvals Bybit has collected in 2026, in the European Union, Indonesia, South Africa, El Salvador and the Cayman Islands, which Zhou highlighted in an October keynote, according to the release. Last month, Bybit began accepting shares of a Franklin Templeton tokenized money market fund as off-exchange collateral. VARA regulates virtual asset firms in Dubai’s mainland and free zones, with the exception of the Dubai International Financial Centre, according to the regulator’s site. Related Listen: Why a Single Word Will Decide Who Can Trade Perps in the U.S The post Bybit Lands Active Dubai Spot License Two Years After Provisional Nod appeared first on Unchained .
Open source