DUBAI, United Arab Emirates — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has secured In-Principle Approval (IPA) from the UAE’s Securities & Commodities Authority (SCA) to operate as a Virtual Asset Platform Operator. The approval, dated February 18, 2025, positions Bybit for a fully operational license in the near future, reinforcing its commitment to regulatory compliance and market expansion in the Middle East.
Key Highlights of Bybit’s Milestone
- Regulatory Achievement: The IPA validates Bybit’s adherence to the UAE’s stringent financial regulations, including Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) protocols.
- Market Expansion: Bybit aims to offer digital asset services to retail and institutional clients in the UAE, a hub for blockchain innovation.
- Global Compliance Strategy: This follows Bybit’s existing approvals in jurisdictions like India, Georgia, and Kazakhstan, underscoring its focus on regulated growth.
CEO Statement: Commitment to Security and Innovation
Ben Zhou, Co-founder and CEO of Bybit, emphasized:
“Receiving the IPA from SCA is a pivotal moment in our mission to deliver secure, transparent crypto solutions. We’re dedicated to collaborating with regulators to build a compliant digital asset ecosystem in the UAE.”
Why the UAE?
The UAE has emerged as a progressive crypto hub, thanks to:
- Clear Regulatory Frameworks: SCA’s guidelines foster innovation while ensuring investor protection.
- Strategic Location: Bridges traditional finance and digital assets for global markets.
- Institutional Adoption: Growing demand from banks, hedge funds, and fintech firms.
👉 Explore Bybit’s latest regulatory milestones
Bybit’s Global Regulatory Footprint
Beyond the UAE, Bybit continues to secure licenses in:
- Asia (India, Kazakhstan)
- Europe (Georgia, Turkey)
- Latin America (Brazil, Argentina)
This global strategy ensures seamless access to crypto markets while maintaining top-tier security standards.
Frequently Asked Questions (FAQ)
Q: What services will Bybit offer in the UAE?
A: Bybit plans to provide spot trading, derivatives, and institutional-grade custody upon full licensure.
Q: How does Bybit ensure compliance?
A: Through AML/CFT protocols, regular audits, and partnerships with regulators like SCA.
Q: When will Bybit’s UAE platform launch?
A: Following final SCA approval—expected in Q2 2025.
Q: Is Bybit available to retail investors?
A: Yes, both retail and institutional clients will have access.
About Bybit
Bybit is the second-largest crypto exchange globally, serving 60+ million users with:
- Secure Custody Solutions
- Web3 Innovations
- User-Friendly Trading Tools
👉 Learn more about Bybit’s ecosystem
For media inquiries, contact: [email protected]
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