Crypto exchange Bybit has received a full virtual asset service provider licence in Dubai that covers exchange services, including spot trading, marking a regulatory step forward for its local operations. The approval does not yet mean trading can begin: Bybit must complete the launch process and satisfy additional operational requirements set by Dubai’s Virtual Assets Regulatory Authority, or VARA.
According to Cointelegraph, Bybit Fintech FZE, the exchange’s Dubai entity, was granted the licence after previously holding only an in-principle approval. That earlier status was non-operational and did not allow the company to serve customers in Dubai.
What the Dubai licence allows
VARA’s public register lists Bybit’s new licence as active. The authorisation covers exchange services and permits the Dubai entity to provide services to three customer categories:
- Retail investors
- Qualified investors
- Institutional investors
Spot trading generally refers to the direct buying and selling of digital assets at current market prices, rather than products based on derivatives or other contracts. The licence therefore provides a formal regulatory basis for Bybit’s planned spot-trading activities in Dubai, but it is not an immediate permission to launch those services.
A Bybit spokesperson said the company still needs to complete VARA’s launch process and meet operational requirements before beginning spot trading. The exchange has not announced a launch date.
How the approval fits with Bybit’s UAE status
Bybit already obtained a full Virtual Asset Platform Operator licence from the United Arab Emirates’ federal regulator, the Securities and Commodities Authority, in October 2025. That approval was held by a separate entity, Bybit Virtual Asset Platform Operator LLC.
However, the service restrictions attached to that SCA-licensed entity exclude Dubai from the jurisdictions it serves. The new VARA licence is held by Bybit Fintech FZE and specifically addresses the company’s regulated activity in Dubai.
Bybit did not comment on how the VARA licence differs from its federal approval. The spokesperson also declined to say whether the earlier SCA licence allowed services in Dubai. The distinction highlights the separate roles of federal and emirate-level regulatory permissions in the UAE’s virtual-asset market.
Moneyiar market picture
Moneyiar market data at the stated times showed mixed performance among selected crypto assets on Oct. 24, 2026:
- Ethereum Name Service (ENS): $5.3696224086, down 4.04% in 24 hours and 4.91% over seven days, as of 08:08 +03:30.
- Compound (COMP): $23.766938464, down 2.66% in 24 hours but up 7.95% over seven days, as of 08:09 +03:30.
- Request (REQ): $0.0516368566, down 2.81% in 24 hours and 1.39% over seven days, as of 08:09 +03:30.
- Ore (ORE): $149.7319252124, up 16.71% in 24 hours and 30.73% over seven days, as of 08:08 +03:30.
The Bybit approval concerns regulatory access and does not indicate a change in the prices or performance of these assets.
