Bybit Secures SCA License, Expands UAE Operations with 500 Staff

Bybit has announced that it has officially secured a Virtual Asset Platform Operator License from the UAE’s Securities and Commodities Authority (SCA). The exchange claims it is the first global crypto platform to receive such a license at the federal level in the UAE.

The announcement, published on Bybit’s website and social channels, comes after the exchange initially began its licensing process with Dubai’s Virtual Asset Regulatory Authority (VARA), where it still appears under in-principle approval. In February 2025, following a major hack, Bybit shifted focus to SCA and disclosed that it had received in-principle approval from the federal regulator.

Regulatory Context

Bybit’s new status was also reflected on the SCA’s public registry. The desktop version of the registry currently directs users to VARA’s list of licensed companies, while on mobile, Bybit appears listed as an active Virtual Asset Platform Operator under SCA.

Abu Dhabi’s Growing Role

Crucially, Bybit’s announcement goes beyond licensing. The exchange confirmed it will establish a regional operations center in Abu Dhabi, building a workforce of more than 500 employees across Abu Dhabi and Dubai.

The Abu Dhabi Blockchain Center (ADBC) amplified the news on X, describing it as a “historic milestone” and stating that Bybit is expanding its regional headquarters in Abu Dhabi. ADBC also highlighted plans for education and Web3 innovation programs, underscoring institutional support for the UAE capital’s ambition to be a global hub for blockchain and digital assets.

Bybit’s Upcoming Plan in UAE

Under the SCA’s Virtual Asset Platform Operator License, Bybit says it will offer regulated virtual asset trading, brokerage, custody, and fiat conversion services to both retail and institutional clients across the UAE.

The exchange plans to expand its local footprint by accelerating compliance, operations, and customer service hiring, and introducing new education and Web3 innovation programs in collaboration with local partners.

Bybit’s continued investment in talent, technology, and infrastructure reaffirms its long-term commitment to supporting the UAE’s ambition to become a global hub for digital assets and financial innovation.

What Bybit Says

In its official statement, Bybit CEO Ben Zhou described the development as “a pivotal milestone” in the exchange’s global regulatory roadmap, emphasizing trust, compliance, and transparency. Helen Liu, Global Government Relations Head, thanked the SCA for its clarity and support, pointing to deeper collaboration between Bybit and the UAE’s ecosystem.

What’s Next for Bybit’s Dual Licensing?

Bybit now appears under SCA’s register while still listed with an in-principle approval from Dubai’s VARA. What remains unclear is whether Bybit will eventually deactivate its VARA license, or if this dual status reflects a coordinated approach between VARA and SCA under their recently signed agreement.

As of the time of writing, no comment has been received from VARA, SCA, or Bybit on how the two regimes will align for the exchange going forward.