The Securities and Commodities Authority (SCA) has issued its first full Virtual Asset Platform Operator License to cryptocurrency exchange Bybit, marking a regulatory milestone in the United Arab Emirates’ expanding digital asset framework.
Bybit Secures UAE’s First Virtual Asset Platform Operator License
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UAE Issues First Comprehensive Crypto License to Bybit
According to the release shared with Bitcoin.com News, the authorization follows Bybit’s in-principle approval from the SCA in February 2025, achieved with support from the Blockchain Centre in Abu Dhabi.
The license allows Bybit to provide regulated services such as trading, brokerage, custody, and fiat conversion to retail and institutional clients across the country.
The move places the UAE among a small number of global jurisdictions to grant comprehensive digital asset exchange licenses, reinforcing its goal of becoming a leading hub for blockchain and cryptocurrency innovation.
Bybit, one of the world’s largest cryptocurrency exchanges by trading volume, said the license recognizes its compliance standards and operational transparency. The company has emphasized that meeting local and global regulations remains central to its expansion strategy.
The approval is part of a broader pattern of regulatory developments for Bybit in 2025, including a MiCAR license in Europe and renewed trading operations in India.
“Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit’s unwavering commitment to building trust through compliance and transparency,” Ben Zhou, Co-founder and CEO of Bybit, remarked. “The UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards.”
As part of its UAE expansion, Bybit plans to increase local hiring, build a larger operations center in Abu Dhabi, and collaborate with regional partners on blockchain education and Web3 innovation programs.
The SCA’s decision points to the UAE’s approach to balancing innovation with investor protection, signaling continued progress toward a more regulated virtual asset environment.
💬 FAQ
- What does Bybit’s new license allow? It enables Bybit to offer regulated crypto trading, brokerage, custody, and fiat services in the UAE.
- Who issued the license? The UAE’s Securities and Commodities Authority granted Bybit the Virtual Asset Platform Operator License.
- Why is this significant for the UAE? It marks the nation’s first full crypto exchange license, advancing its role as a digital asset hub.
- What are Bybit’s next steps? The company plans to expand its workforce and regional operations in Abu Dhabi and Dubai.
