Bybit Secures Full Virtual Asset Service License in Dubai for Spot Trading

On Thursday, Bybit announced that its Dubai-based branch, Bybit Fintech FZE, received a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA), authorizing it to offer exchange services including spot trading.

A Bybit representative told Cointelegraph that the previous provisional approval was non-operational and did not allow the company to service customers in Dubai. VARA’s public register now lists the new license as active, which permits Bybit to provide services to retail, qualified, and institutional investors.

The spokesperson mentioned that Bybit still needs to complete VARA’s launch procedures and fulfill operational criteria before commencing spot trading offerings. No specific launch date was given by the company.

Before this, in October 2025, Bybit obtained a full Virtual Asset Platform Operator license from the UAE’s federal Securities and Commodities Authority (SCA). Despite this, the existing license’s restrictions exclude Dubai as a jurisdiction served by Bybit Virtual Asset Platform Operator LLC, the SCA-licensed entity.

When asked about the differences between the VARA license and the earlier SCA approval, or whether the prior license allowed Dubai-based services, the representative declined to comment.

Bybit’s acquisition of an active, full VASP license in Dubai is a pivotal step towards officially launching comprehensive spot trading services for a broad range of investors in this key market.