Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has secured the first full Virtual Asset Platform Operator (VAPO) license in the United Arab Emirates (UAE). Granted by the Securities and Commodities Authority (SCA), this license allows Bybit to operate legally and fully in the country, reinforcing the UAE’s status as an emerging global center for digital assets.
The exchange had previously received Initial Approval (IPA) from the SCA in February 2025, with support from Blockchain Centre Abu Dhabi to navigate the complex regulatory process. The full license reflects Bybit’s commitment to security, transparency, and compliance with UAE standards.
CEO and co-founder Ben Zhou commented, “Receiving the VAPO license demonstrates Bybit’s unwavering dedication to trust, transparency, and regulatory compliance. The UAE’s leadership in digital asset regulation underlines the robustness of our security and corporate governance.”
Co-CEO Helen Liu added, “We sincerely thank the SCA for their trust and support throughout the licensing process. Their clear and structured regulatory framework provides a strong foundation for global exchanges like Bybit to operate confidently and transparently.”
The new license enables Bybit to offer its complete suite of services, including trading, brokerage, custody, and fiat conversion, to both retail and institutional clients. The exchange plans to establish a regional operations hub in Abu Dhabi, employing over 500 staff across Abu Dhabi and Dubai, and expand local recruitment in compliance, operations, and customer support. Educational and Web3 initiatives in collaboration with local partners are also planned.
This milestone follows Bybit’s other 2025 regulatory achievements, including MiCA licensing in Europe and the resumption of full operations in India. Zhou noted, “Regulation is key to sustainable growth. This is another step in our global regulatory roadmap—from Europe to India, and now the UAE.”
Bybit’s progress aligns with the UAE’s ambition to become a leading hub for financial innovation and digital assets. Other exchanges, such as Crypto.com and Ripple, have also obtained local licenses, reflecting the country’s commitment to a regulated crypto ecosystem.
