Bybit, a cryptocurrency exchange, has officially secured a Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE). The announcement, made on October 9, 2025, marks a significant milestone as Bybit becomes the first crypto exchange to receive full licensing from the SCA. This achievement underscores the UAE's ambition to establish itself as a leading global hub for digital assets.

The license grants Bybit the authorization to offer regulated virtual asset trading, brokerage, custody, and fiat conversion services to both retail and institutional clients across the UAE. Bybit's CEO and co-founder, Ben Zhou, described receiving the full Virtual Asset Platform Operator License from the SCA as “a testament to Bybit's unwavering commitment to building trust through compliance and transparency”. He also acknowledged the UAE's emergence as a global leader in digital asset regulation.

This milestone follows Bybit's initial receipt of an In-Principle Approval (IPA) from the SCA in February 2025. The Blockchain Center in Abu Dhabi played a crucial role in guiding Bybit through the SCA's compliance framework. The full license demonstrates the regulator's confidence in Bybit's security infrastructure, operational transparency, and adherence to compliance standards.

Looking ahead, Bybit plans to expand its presence in the UAE by establishing a larger regional operations center in Abu Dhabi. The company anticipates employing over 500 individuals across Abu Dhabi and Dubai, with a focus on roles in compliance, operations, and customer service. Furthermore, Bybit intends to launch education and Web3 innovation programs in collaboration with local partners.

The SCA's regulatory oversight extends beyond Dubai's jurisdiction under the Virtual Asset Regulatory Authority (VARA), applying to the UAE mainland and entities operating outside of Dubai. Helen Liu, Co-CEO of Bybit, stated that the SCA's regulatory framework provides a strong foundation for global exchanges like Bybit to operate confidently and with clarity.

In addition to securing the UAE license, Bybit has achieved other regulatory milestones in 2025, including obtaining a Markets in Crypto Assets (MiCAR) license in May and resuming full trading operations in India in September. These accomplishments reflect Bybit's strategy of prioritizing compliance in its global expansion efforts.

Bybit's achievement in the UAE stands in contrast to the regulatory challenges faced by some cryptocurrency exchanges in other regions, such as the United States and parts of Asia. This development signals the Middle East's growing importance as a hub for compliant crypto growth and adoption.