Bybit has made history as the first crypto exchange to receive a full operational license from the UAE’s Securities and Commodities Authority (SCA), becoming the nation’s first officially approved Virtual Asset Platform Operator.
The license allows Bybit to offer a full range of services — including trading, custody, brokerage, and fiat conversion — to both retail and institutional clients. CEO Ben Zhou said the approval highlights the UAE’s forward-thinking regulatory model, while Co-CEO Helen Liu noted that Bybit plans to expand by hiring 500 employees in Abu Dhabi and Dubai.
The milestone adds to Bybit’s strong compliance record, following its MiCAR license in Europe and return to India after paying a $1.06 million fine to the Financial Intelligence Unit. The company’s re-registration under India’s PMLA framework has allowed it to restart operations for Indian users, marking what Zhou called “a new chapter” of growth and trust across Asia.
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