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Magyar22 Oct 2026
Bybit Fintech FZE has received a full Virtual Asset Service Provider licence from Dubai's Virtual Assets Regulatory Authority (VARA) for Exchange Services, covering spot trading. The licence replaces the in-principle approval Bybit got in August 2024, and the exchange says it hopes to add derivatives later, subject to regulatory approval.
Bybit has secured a full licence to run a spot crypto exchange in Dubai. The company announced on October 22 that its local entity, Bybit Fintech FZE, now holds a Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA) for Exchange Services. The news was first flagged on Watcher.Guru’s Telegram channel and confirmed in Bybit’s own press release.
From in-principle approval to a full licence
VARA’s public register shows that Bybit Fintech FZE received an In-Principle Approval (IPA) for Exchange Services on August 21, 2024. An IPA is a conditional step: VARA states that IPA holders are not allowed to start operations or serve clients until they obtain a full VASP licence. The new licence completes that process for spot trading.
- Licensed entity: Bybit Fintech FZE
- Regulator: Virtual Assets Regulatory Authority (VARA), Dubai
- Scope: Exchange Services, covering spot trading
- Earlier status: In-Principle Approval issued August 21, 2024
Bybit set up its international headquarters in Dubai in 2022 and says it is trusted by more than 80 million users worldwide.
Derivatives are the next goal
The licence does not cover futures or other derivatives, which Bybit calls a major part of its global business. Peter Loo, Bybit’s Chief Legal and Compliance Officer, said the company hopes “to expand our licensed activities to include derivatives, subject to the necessary regulatory approvals.” CEO Ben Zhou said the company looks forward to “building our business in line with the standards set by VARA.”
Part of a wider licensing push
According to Bybit, the Dubai approval follows five other licences and regulatory approvals it gained in 2026, across the European Union, the Cayman Islands, Indonesia, South Africa and El Salvador. PANews also reported that Zhou told CoinDesk the exchange is studying an entry into the UK and would rather wait for federal US rules than pursue state-by-state licensing.
What it means for traders
For traders in the UAE, a full VARA licence means Bybit’s spot services in Dubai now operate under local supervision rather than a conditional approval. That is relevant for anyone who weighs regulation when choosing where to keep funds. It does not change Bybit’s derivatives offering in Dubai yet, so local users who want futures should check what is actually available to them before trading.
More broadly, licences are becoming a key way for large exchanges to compete. If regulation matters to you, compare how each platform is licensed in your country alongside fees and features. Our exchange comparison puts these side by side, and you can read our reviews of BingX, OKX and Bybit. See how we test for our method. This is not financial advice.
Related reviews
Sources
- Watcher.Guru Telegram: Bybit crypto exchange officially receives regulatory approval to operate in Dubai
- PR Newswire (Bybit): Bybit Secures VARA Licence for Exchange Services in Dubai
- VARA: Bybit Fintech FZE (Bybit) public register entry
- PANews: Asia Market Daily: Bybit secures Dubai VASP license, expands Middle East and UK ambitions
News is for information only and is not financial advice. More crypto news
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