Overview
- The new authorization permits regulated trading, brokerage, custody, and fiat conversion for both retail and institutional clients nationwide.
- The SCA framework covers the UAE mainland and is broader than Dubai’s VARA regime, where Bybit also holds a provisional license as regulators move toward licensing reciprocity.
- Bybit will expand its regional footprint with a larger operations center in Abu Dhabi and plans to hire more than 500 staff across Abu Dhabi and Dubai, alongside local education and Web3 programs.
- The full approval follows in-principle clearance from the SCA in February 2025, obtained with support from the Blockchain Centre Abu Dhabi.
- This milestone builds on Bybit’s 2025 regulatory progress, including MiCA authorization in Europe and resuming full trading in India after settling a compliance penalty, as the firm works to rebuild trust following a major February hack attributed by the FBI to North Korean actors.