Bybit, the world’s second-largest cryptocurrency trade by buying and selling quantity, has secured a Digital Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE), the trade stated on Thursday.
Bybit turns into the primary crypto trade to acquire this full license from the SCA, the corporate stated in a press assertion.
Quite a lot of crypto corporations with operations in Dubai are regulated underneath the VARA framework. The SCA regulation is wider in scope because it applies on the UAE mainland, and applies to entities exterior Dubai’s jurisdiction underneath VARA. (ByBit additionally has a provisional license underneath the VARA framework.)
Beneath the SCA’s Digital Asset Platform Operator License, Bybit will provide regulated digital asset buying and selling, brokerage, custody, and fiat conversion providers to each retail and institutional shoppers throughout the UAE.
The trade plans to increase its native footprint by establishing a bigger regional operations middle in Abu Dhabi with over 500 workers throughout Abu Dhabi and Dubai, accelerating native hiring throughout compliance, operations, and customer support, and introducing new schooling and Web3 innovation applications in collaboration with native companions, the trade stated.
Bybit initially acquired its In-Precept Approval (IPA) from the SCA in February 2025 with the assistance of the Blockchain Centre, Abu Dhabi, in navigating SCA’s framework. Earlier this yr, Bybit snagged a Markets in Crypto Property (MiCA) license, and the agency additionally resumed full buying and selling operations in India in September.
“Receiving the total Digital Asset Platform Operator License from the SCA is a testomony to Bybit’s unwavering dedication to constructing belief by way of compliance and transparency,” stated Bybit CEO Ben Zhou in a press release.
