Bybit, the world’s second largest cryptocurrency exchange by trading volume, proudly announced that it has
The Securities and Commodities Authority (SCA) of the United Arab Emirates approved Bybit to set up as an Virtual Asset Platform Operator (IPA) in the UAE on February 2025, 2. Bybit is also in the final stages of obtaining a full operating license. This milestone marks an important step forward in Bybit's ongoing mission to provide a secure, stable, and compliant platform for cryptocurrency traders in the region.
This IPA demonstrates Bybit’s commitment to upholding the highest regulatory and compliance standards as it works towards obtaining full operational approval from the SCA. This authorization brings Bybit one step closer to providing a wide range of digital asset services to retail and institutional clients in the UAE. Bybit’s progress in the UAE follows on from its regulatory approvals in the Middle East, further solidifying its commitment to compliance in a major financial center.
Bybit co-founder and CEO Ben Zhou commented on this milestone:
We are honored to receive the IPA from the SCA. This approval marks a key step forward in our journey to provide secure and transparent cryptocurrency trading solutions. Bybit will continue to be committed to working hand in hand with regulators to build a compliant and innovative digital asset ecosystem for retail and institutional investors in the UAE.
The UAE has become a leading global center for cryptocurrency and blockchain innovation, and its advanced regulatory framework is in line with Bybit's vision of connecting traditional finance with digital assets. Bybit remains committed to complying with global compliance standards, including Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) protocols, to ensure a safe and secure trading environment.
In addition to the UAE, Bybit continues to obtain regulatory approvals around the world, expanding its presence in major jurisdictions such as India, Georgia, Kazakhstan, Turkey, and further strengthening its regulatory commitment. These licenses enable Bybit to expand its business scope while providing the highest security and compliance standards to global users.