Bybit Becomes UAE’s First Crypto Exchange to Secure Full SCA Virtual Asset License

Key Takeaways:

• Bybit has received the first-ever full Virtual Asset Platform Operator License from the UAE’s Securities and Commodities Authority (SCA).
• The license allows Bybit to offer regulated trading, brokerage, custody, and fiat conversion for both retail and institutional clients.
• The exchange plans to expand its UAE operations with over 500 new hires and launch Web3 education and innovation programs in partnership with local institutions.

The UAE has taken a major leap toward becoming a global digital asset hub as Bybit, the world’s second-largest cryptocurrency exchange by trading volume, becomes the first to receive a full Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA). The approval cements the nation’s leadership in digital finance and reflects its growing regulatory sophistication.

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Bybit announced the milestone on October 9, confirming that it had secured the SCA’s full authorization following its In-Principle Approval (IPA) earlier this year. The exchange had obtained that preliminary approval in February 2025 with guidance from the Abu Dhabi Blockchain Centre, which helped it navigate the UAE’s strict regulatory framework.

This final approval makes Bybit the first exchange officially licensed under the SCA’s Virtual Asset Platform Operator (VAPO) framework, a key component of the UAE’s broader strategy to position itself as a compliant global hub for digital finance under Vision 2031.

Bybit is now able to conduct the regulated virtual asset trading, brokerage, custody, and fiat conversion services throughout the UAE under the new license. This covers both the retail and institutional clients, as it is a sign of increasing demand for digital assets in one of the most vibrant financial hubs of the Middle East.

Co-founder and CEO Ben Zhou said the achievement reflects Bybit’s “unwavering commitment to building trust through compliance and transparency.” He added that the UAE’s regulatory clarity gives the exchange a strong foundation to scale operations responsibly.

“The UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards,” Zhou said.
“We see regulation as the foundation for sustainable growth.”

The SCA model of the UAE is considered one of the best structured digital asset regimes in the world. The full authorization of Bybit is an indicator of a replacement of local experimentation with international leadership in compliant crypto activities.

This is the full service Virtual Asset Platform Operator License, and the international standards of anti-money laundering (AML), cybersecurity, and risk management must be met. It also releases investor protection mechanisms which ensure transparency and stability of operations.

Co-CEO of Bybit Helen Liu stated that the regulatory transparency and the cooperative nature of the SCA were key to the success of the company.

“The SCA’s clear and well-structured framework enables global exchanges like Bybit to operate with confidence and clarity,” Liu said.
“This milestone would not have been possible without the regulator’s forward-thinking vision for innovation and compliance.”

The UAE’s progress contrasts with the slower and often fragmented regulatory landscape in other regions. The United States is still experiencing uncertainty in the exchanges as it still has an ongoing dispute with the Securities and Exchange Commission (SEC). In comparison, the SCA in the UAE has been progressive in taking a license-first model that focuses on regulation but promotes innovation.

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Bybit is expanding its local expansion strategy on the basis of the SCA license. The exchange is planning to establish a bigger regional operations facility at Abu Dhabi that will be supported by more than 500 employees in Abu Dhabi and Dubai.

Such major segments as compliance, operations, technology and customer service will be targeted under the recruitment initiative. Bybit also intends to launch education and Web3 innovation programs in collaboration with academic and institutional partners located in the UAE in other plans.

The projects would enhance the long-term objective of the UAE to become a blockchain and digital asset innovation hub at the international level. The programs will focus on talent, blockchain literacy, and entrepreneurship to enhance creation of Web3 programs.

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