Bybit Fintech FZE has obtained a virtual asset service provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), allowing its Dubai unit to offer exchange services including crypto spot trading. The approval does not cover derivatives trading, although Bybit plans to seek the necessary regulatory approvals to add it. Chief Executive Officer Ben Zhou said the company would comply with VARA regulations while supporting Dubai’s digital-asset ecosystem. Bybit established its international headquarters in Dubai in 2022 and has participated in the emirate’s blockchain and Web3 ecosystem through industry engagement, strategic partnerships and knowledge-sharing initiatives. The company also said it secured five new licenses and regulatory approvals in 2026 across the European Union, the Cayman Islands, Indonesia, South Africa and El Salvador.