The United Arab Emirates continues to solidify its position as a global hub for digital assets, with Bybit becoming the first cryptocurrency exchange to secure a Virtual Asset Platform Operator (VAPO) license from the Securities and Commodities Authority (SCA). This significant regulatory milestone empowers Bybit to operate its full suite of services legally and comprehensively within the UAE, aligning with the nation’s strategic vision for fostering innovation in the virtual asset sector.
This VAPO license marks a pivotal moment for Bybit, enabling it to offer its global product and service portfolio in strict adherence to the UAE’s local legislative framework. The company had previously received an Independent Power Producer (IPA) approval from the SCA in February 2025, a process facilitated by the Blockchain Centre Abu Dhabi. The attainment of the full license underscores Bybit’s robust security protocols, operational transparency, and compliance with the stringent standards established within the Emirates.
“Securing the full VAPO license from the SCA is a profound testament to Bybit’s unwavering dedication to the principles of trust, transparency, and regulatory adherence,” stated Ben Zhou, Co-founder and CEO of Bybit. He further emphasized the UAE’s leadership in digital asset regulation, noting that this recognition validates Bybit’s advanced security measures and corporate governance. Helen Liu, Co-CEO, acknowledged the SCA’s balanced regulatory approach, which empowers global exchanges like Bybit to operate with confidence.
This UAE authorization is the latest in a series of Bybit’s 2025 regulatory achievements, following its acquisition of a MiCA license in Europe and the resumption of full operations in India earlier in the year. Zhou views regulation as fundamental for sustainable growth, characterizing this development as another critical step in Bybit’s international regulatory roadmap.
Under the new VAPO license, Bybit is authorized to provide regulated virtual asset trading, brokerage services, custody, and fiat conversion for both retail and institutional clients. The exchange intends to significantly expand its presence in the UAE by establishing a major regional operational center in Abu Dhabi, intended to house over 500 employees across Abu Dhabi and Dubai. Furthermore, Bybit plans to bolster its local workforce in compliance, operations, and customer support, alongside initiating educational and Web3 programs in collaboration with local partners. These strategic initiatives are integral to Bybit’s long-term commitment to supporting the UAE’s ambition to become a global epicenter for financial innovation and digital assets.
This development follows similar regulatory advancements in the UAE, with entities like Crypto.com holding a license from the local Virtual Assets Regulatory Authority, and Ripple being among the first to receive a license from the Dubai Financial Services Authority. The UAE has also recently entered into a multilateral agreement for the automatic exchange of tax information concerning cryptocurrency transactions.
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