Bybit announced on 22 October 2026 that its Dubai company, Bybit Fintech FZE, has received a Virtual Asset Service Provider licence from Dubai’s Virtual Assets Regulatory Authority. It is Bybit’s first full operating licence in Dubai, the city where it set up its international headquarters in 2022.
What the register shows
VARA’s public register, read on 25 October 2026, lists the licence as follows:
- Company: Bybit Fintech FZE (Bybit).
- Licence: VASP licence, reference VL/26/10/003.
- Activity: Exchange services.
- Issued: 20 October 2026.
- Status: Active.
- Federal registration: CMA-VASP-1000000-0006.
Some reports gave a June 2026 issue date. The register shows 20 October 2026, two days before Bybit’s announcement. With Bybit, the register lists 60 licensed providers.
What it covers, and what it does not
Bybit says the licence covers spot trading. It does not cover derivatives: VARA lists a separate activity, exchange services including exchange traded derivative services, and Bybit’s entry does not include it. Bybit’s chief legal and compliance officer, Peter Loo, said in the release that the company hopes to add derivatives in Dubai later, subject to regulatory approval.
The licence is also not a launch. Bybit’s release names no start date, and a Bybit spokesperson told Cointelegraph that the company still has to complete VARA’s launch process and operational requirements before it offers spot trading under the licence.
How it fits with the federal licence
Bybit already holds a federal licence. Its company Bybit Virtual Asset Platform Operator LLC received a virtual asset platform operator licence from the Securities and Commodities Authority in October 2025. Bybit’s restricted-countries page says that company does not serve Dubai, which has its own virtual asset regulator, VARA. Bybit now holds a licence on each side of that line: the federal company outside Dubai and the VARA company inside it.
What it means for users in the UAE
Nothing changes on the day of the announcement. Bybit’s restricted list does not name the UAE, and our geo-access test from the UAE on 14 October 2026 loaded both its home page and its sign-up page. Bybit has not said how or when Dubai customers will move to the licensed company, or what happens to derivatives trading for them, since VARA has approved spot trading only.
Timeline
- 2022: Bybit sets up its international headquarters to Dubai.
- 9 October 2025: Federal licence for Bybit Virtual Asset Platform Operator LLC, excluding Dubai.
- 20 October 2026: VARA issues licence VL/26/10/003 to Bybit Fintech FZE.
- 22 October 2026: Bybit announces the licence.
What changes in our data
The licence list now records the VARA licence for Bybit Fintech FZE beside the federal one. Bybit stays available in the UAE, and the row now cites the VARA register. We will record the launch, and any derivatives approval, when Bybit or VARA publishes it.
Bybit
United Arab Emirates