Bybit wins first full Dubai license for spot crypto trading

Bybit gets full Dubai trading license

Bybit, a major cryptocurrency exchange (a platform where users buy, sell, or swap digital assets), has secured its first full trading license in Dubai. The announcement, made on Thursday, confirms that Bybit’s local entity has received official permission from the local regulator to offer spot trading services.

Spot trading involves the immediate exchange of a cryptocurrency for a fiat currency or another digital asset at the current market price. This new status was confirmed by Dubai’s Virtual Assets Regulatory Authority (VARA), which lists the new license as active in its public register.

Key details from the announcement

• The license was issued to Bybit’s specific Dubai entity, Bybit Fintech FZE.
• It allows services for retail, qualified, and institutional investors.
• A spokesperson confirmed that Bybit’s earlier approval was "non-operational," meaning the company was not permitted to serve customers in Dubai under that previous status.

Regulatory requirements remain

Despite securing the official license, Bybit cannot immediately begin serving customers. The company must first complete VARA’s launch process and meet specific operational requirements. As of the announcement, Bybit has not provided a specific date for when its spot trading services will go live.

Separation from federal license

This new regional license is distinct from Bybit’s earlier approval from the United Arab Emirates' federal regulator, the Securities and Commodities Authority (SCA). That federal license, granted in October 2025, specifically excludes Dubai from its service area. Bybit declined to comment on how the two licenses interact or if the earlier federal approval ever permitted operations in the emirate.

Sources

• Cointelegraph