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<p>Cryptocurrency exchange Bybit has announced that its Dubai entity secured a Virtual Asset Service Provider (VASP) licence for spot trading from the emirate’s Virtual Assets Regulatory Authority (VARA), expanding its locally regulated exchange operations.</p>
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   <li>Bybit has announced a Dubai VARA licence permitting its local entity to provide cryptocurrency spot exchange services.</li>
   <li>VARA’s public register lists Bybit Fintech FZE as an active licensee authorized to serve three investor categories.</li>
   <li>CEO Ben Zhou described the approval as another step in Bybit’s commitment to its Dubai headquarters.</li>
   <li>Bybit plans to seek derivatives approval separately, with its current Dubai licence limited to Exchange Services.</li>
   <li>The exchange reported five other licences and regulatory approvals across international markets during 2026.</li>
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<p>According to the company’s October 21 <a href="https://www.bybit.com/en/press/post/bybit-secures-vara-licence-for-exchange-services-in-dubai-bb294dd6a0a381467c8" rel="noopener noreferrer nofollow">announcement</a>, Bybit Fintech FZE received authorization for Exchange Services, four years after the exchange established its international headquarters in Dubai.</p>
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   <p>JUST IN: Bybit receives regulatory approval to operate in Dubai<br><br>The approval marks a new step in the crypto exchange’s expansion in the UAE market. <a href="https://t.co/7KLq0dlYbK" rel="noopener noreferrer nofollow">pic.twitter.com/7KLq0dlYbK</a></p>— crypto.news (@cryptodotnews) <a href="https://x.com/cryptodotnews/status/2113237689319231793?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 22, 2026</a>
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<p>Meanwhile, the approval allows Bybit’s local entity to conduct the activities specified under VARA’s exchange licensing framework. It does not automatically authorize every financial product available through Bybit’s international platform.</p>
<p>VARA’s public licensing register <a href="https://www.vara.ae/en/licenses-and-register/public-register/bybit-fintech-fze-bybit/" rel="noopener noreferrer nofollow">identifies</a> Bybit Fintech FZE as an active VASP under reference VL/26/10/003. The regulator lists Exchange Services as its authorized activity and permits the company to serve retail, qualified and institutional investors.</p>
<p>The register records June 20, 2026, as the licence issue date, while Bybit announced the approval on October 22. Neither publication explains the difference between those dates.</p>
<p>You might also like: <a href="https://crypto.news/bybit-launches-us-stock-trading-with-access-to-over-1000-stocks-and-etfs/" rel="noopener noreferrer nofollow"> Bybit launches US stock trading with access to over 1,000 stocks and ETFs </a></p>
<p>Previously, Bybit obtained provisional approval from the Dubai regulator in 2024. That stage allowed the company to continue completing requirements for a full operating licence.</p>
<p>Later, the exchange secured <a href="https://crypto.news/bybit-secures-uaes-first-full-crypto-exchange-license/" rel="noopener noreferrer nofollow">full UAE regulatory approval</a> from the country’s Securities and Commodities Authority in October 2025.</p>
<p>That national authorization concerned a separate regulatory process. VARA governs virtual asset activities within Dubai, excluding the Dubai International Financial Centre, which maintains its own financial regulatory system.</p>
<h2 class="wp-block-heading" id="strong-ben-zhou-reiterates-dubai-commitment-following-approval-strong"><strong>Ben Zhou reiterates Dubai commitment following approval</strong></h2>
<p>Bybit co-founder and CEO Ben Zhou linked the latest announcement to the exchange’s decision to establish its international headquarters in Dubai in 2022.</p>
<p>In a statement accompanying the approval, Zhou praised the emirate’s progress in developing digital asset regulation and said Bybit intended to continue working with local authorities.</p>
<p>Subsequently, the executive wrote on X that Dubai had been important to the company’s operations since its headquarters opened.</p>
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 <p>“Securing our VARA licence is another step in building for the long term,” Zhou said, citing trust, compliance and local commitment.</p>
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   <p>Dubai has been an important part of Bybit’s journey since we established our international HQ here in 2022.<br>Securing our VARA licence is another step in building for the long term.<br>With trust, compliance and local commitment at the core. <a href="https://t.co/kEczO3ZzbI" rel="noopener noreferrer nofollow">https://t.co/kEczO3ZzbI</a></p>— Ben Zhou (@benbybit) <a href="https://x.com/benbybit/status/2113239670578692383?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 22, 2026</a>
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<p>Bybit says its international platform serves more than 80 million users. That global figure does not establish how many customers will access services through its Dubai-licensed entity.</p>
<p>The company has participated in local blockchain initiatives, industry partnerships and knowledge-sharing programs since establishing its regional presence.</p>
<h2 class="wp-block-heading" id="strong-bybit-seeks-separate-permission-for-crypto-derivatives-strong"><strong>Bybit seeks separate permission for crypto derivatives</strong></h2>
<p>Although the licence covers spot trading, Bybit intends to pursue additional authorization for derivatives, which represent an important part of its global business.</p>
<p>Peter Loo, the exchange’s chief legal and compliance officer, said the company hopes to introduce those products in Dubai after obtaining the necessary approvals.</p>
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 <p>“In time, we also hope to expand our licensed activities to include derivatives,” Loo said in the company announcement.</p>
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<p>Dubai maintains separate requirements for derivatives trading, covering matters such as client eligibility, risk management and financial safeguards. An exchange licence for spot services does not, by itself, establish permission to offer leveraged futures products.</p>
<p>The regulator has developed <a href="https://crypto.news/flowdesk-secures-full-broker-dealer-license-in-dubai/" rel="noopener noreferrer nofollow">specific derivatives trading rules</a> for licensed providers, including conditions concerning margin requirements, client protections and supervisory intervention during periods of market stress.</p>
<p>Bybit has not announced when it expects to submit or complete an application for derivatives permission, nor has it identified contracts that could become available if authorization is granted.</p>
<h2 class="wp-block-heading" id="strong-bybit-reports-five-other-regulatory-approvals-in-2026-strong"><strong>Bybit reports five other regulatory approvals in 2026</strong></h2>
<p>During an October company keynote, Zhou identified five licences and regulatory approvals obtained in 2026 across the European Union, Cayman Islands, Indonesia, South Africa and El Salvador.</p>
<p>The company did not provide individual authorization numbers or distinguish the permitted services associated with each jurisdiction in its latest Dubai announcement.</p>
<p>Its expansion comes during a period of increased licensing activity in Dubai. Kraken’s parent company, Payward, <a href="https://crypto.news/kraken-parent-payward-secures-full-dubai-license-for-uae-crypto-launch/" rel="noopener noreferrer nofollow">received full Dubai approval</a> in October, while Flowdesk obtained broker-dealer authorization in August.</p>
<p>Those licences cover different activities and customer categories under VARA’s rules.</p>
<p>Bybit said it continues investing in compliance, security and risk management across its international operations. Loo identified strong oversight and user protection as priorities for the Dubai business, alongside future discussions with VARA concerning derivatives services.</p>
<p>Read more: <a href="https://crypto.news/xrp-price-whale-inflows-binance-etf-demand/" rel="noopener noreferrer nofollow"> XRP price falls to $1.33 as whale inflows hit seven-month high </a></p>

Bybit wins Dubai spot trading licence, eyes derivatives approval

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