Bybit, the world’s second-largest cryptocurrency trade by buying and selling quantity, has acquired a digital asset platform operator license from the Securities and Commodities Authority (SCA) of the United Arab Emirates (UAE), the trade introduced on Thursday.
Bybit would be the first crypto trade to obtain a full license from the SCA, the corporate stated in a press assertion.
Many crypto firms working in Dubai are regulated beneath the VARA framework. The SCA laws are broad in scope as they apply to the UAE mainland, and beneath VARA in addition they apply to entities exterior the jurisdiction of Dubai. (ByBit additionally has a provisional license primarily based on the VARA framework.)
Beneath SCA’s Digital Asset Platform Operator License, Bybit will present regulated digital asset buying and selling, brokerage, custody and fiat conversion providers to each retail and institutional shoppers throughout the UAE.
The trade stated it plans to develop its native footprint by establishing a big regional operations middle in Abu Dhabi with greater than 500 staff in Abu Dhabi and Dubai, accelerating native hiring within the areas of compliance, operations and customer support, and dealing with native companions to introduce new training and Web3 innovation applications.
Bybit acquired its first In-Precept Approval (IPA) from the SCA in February 2025, with help from the Abu Dhabi Blockchain Middle in navigating the SCA’s framework. Earlier this yr, Bybit acquired its Market in Cryptocurrency (MiCA) license and absolutely resumed buying and selling operations in India in September.
“Acquiring a full digital asset platform operator license from the SCA is a testomony to Bybit’s unwavering dedication to constructing belief by compliance and transparency,” Bybit CEO Ben Zhou stated in a press release.