The Virtual Asset Regulatory Authority (VARA) has granted Bybit a non-operational license to serve retail and institutional crypto investors in Dubai.
Bybit, the world’s second-largest crypto exchange by derivatives volume, has secured a provisional license in Dubai two years after setting up its headquarters in the city.
The centralized crypto exchange (CEX) has received a non-operational license from the Virtual Asset Regulatory Authority (VARA), according to an announcement shared with Cointelegraph.
According to Helen Liu, Bybit’s Chief Operating Officer, the new license represents a major milestone in the company’s global expansion strategy, driven by Dubai’s ambition to become a leading blockchain hub.
