Dubai’s Virtual Assets Regulatory Authority granted a full virtual asset service provider license to Bybit Fintech FZE on October 23, 2026. The authority confirmed the active status within its official public register, authorizing exchange services that encompass spot market operations.
The entity had previously held a preliminary approval that remained non-operational, restricting it from onboarding clients locally. Under the updated regulatory status, the company is authorized to serve retail and institutional clients residing across the emirate.
Compliance conditions preceding spot launch
Commercial deployment remains paused until final procedural milestones conclude. A company spokesperson confirmed that Bybit Fintech FZE must still satisfy VARA’s operational launch conditions before execution. The platform has not specified a definitive launch schedule.
The exchange operates multiple product lines internationally, ranging from basic trading to structured private wealth management programs designed for high-net-worth accounts. In Dubai, localized offerings will strictly align with the activities authorized under this specific municipal mandate.
Regulatory structure across the United Arab Emirates
The United Arab Emirates maintains separate regulatory jurisdictions between federal bodies and municipal financial authorities. In October 2025, Bybit Virtual Asset Platform Operator LLC received a federal platform operator license from the federal Securities and Commodities Authority.
Despite that national approval, federal oversight did not authorize retail execution inside Dubai. The exchange’s updated documentation outlines specific territorial service restrictions, which formally excluded Dubai residents from the federal license entity.
The issuance from VARA resolves this operational barrier through an autonomous municipal entity. When questioned, the exchange’s representative declined to elaborate on the technical divergences between the federal and local legal frameworks.
Bybit must now pass final infrastructure inspections and operational readiness reviews set by VARA before onboarding customers for physical asset trading. Confirmation of that completed review will mark the actual opening of services.
This article is for informational purposes only and does not constitute financial advice.
