Bybit's Dubai entity has secured an active licence for spot exchange services from the emirate's Virtual Assets Regulatory Authority, moving the company beyond the provisional stage it previously held in the city. Bybit announced the approval on October 22, while VARA's live public register identifies Bybit Fintech FZE as an active Virtual Asset Service Provider. The authorization covers Exchange Services and permits the company to serve retail, qualified and institutional investors.

What the licence covers

The regulator's entry lists licence reference VL/26/10/003 and an issue date of October 20, 2026. Its scope is specific: Exchange Services. Bybit describes that permission as covering spot trading, where customers buy or sell virtual assets for immediate settlement rather than entering a futures or options contract. The active status gives the local entity regulatory authority for the listed activity, but it should not be read as approval for every product available on Bybit's global platform.

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Derivatives remain outside the approval

Bybit said it hopes eventually to add derivatives, subject to further regulatory approvals. Peter Loo, the company's chief legal and compliance officer, described derivatives as a major part of Bybit's global business, but the current Dubai licence does not include them. Independent reports from Unchained and Finance Magnates likewise distinguished the spot approval from derivatives permissions. That boundary is important for users because a regulated spot venue and a leveraged derivatives platform carry different product structures and risks.

Who can use the regulated service

VARA's register says the licensed entity may serve all three categories shown in its framework: retail investors, qualified investors and institutional investors. The company did not announce a new fee schedule, asset list or product launch timetable alongside the licence. Customers should therefore check the local Bybit service and its eligibility terms rather than assume that every global account feature is immediately available in Dubai. The register also identifies the entity's principal place of business at One Central in the Dubai World Trade Centre.

Dubai's regulatory perimeter

VARA regulates virtual-asset activity across Dubai's mainland and free zones, except for the Dubai International Financial Centre, which has a separate regulatory system. A VASP listing confirms the activities for which a firm is authorized inside that perimeter; it is not an endorsement of any asset and does not remove market, custody or counterparty risk. Bybit established its international headquarters in Dubai in 2022 and said the licence supports its plan to build within the emirate's regulatory framework.

What changes next

The immediate change is regulatory clarity for Bybit's local spot-exchange business. The public register now shows an active licence rather than an in-principle status, and the company can develop its Dubai offering within the stated permissions. That distinction also gives counterparties and customers a current regulatory record to check when assessing which local entity provides a service. The next concrete milestones will be any local product rollout details and any separate application to add derivatives. Until those approvals appear in VARA's register, users should treat spot exchange services as the defined limit of the current licence. Availability, onboarding checks, investor classification and supported assets may still vary under the local terms for Dubai customers.

Sources

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