Bybit first to secure UAE SCA Virtual Asset Platform Operator License

Bybit, one of the world’s largest cryptocurrency exchanges by trading volume, on Thursday became the first exchange to receive a full Virtual Asset Platform Operator License from the United Arab Emirates Securities and Commodities Authority, clearing the way for the firm to offer regulated trading, brokerage, custody and fiat conversion services to retail and institutional clients across the UAE mainland.

The SCA license expands Bybit’s legal footing beyond the Dubai Virtual Assets Regulatory Authority framework, which had earlier granted the exchange provisional approval. Bybit said the full authorization, granted after it received in-principle approval from the SCA in February 2025, allows the company to operate without the restrictions typically associated with provisional permissions and to scale services across the country.

Receiving the authorization caps a period of intense regulatory engagement for the exchange. Bybit plans to enlarge its regional operations center in Abu Dhabi, hire more than 500 staff across Abu Dhabi and Dubai in compliance, operations and customer service, and roll out local education and Web3 innovation programs in collaboration with partners in the...