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6h ago

Bybit Becomes First Exchange to Secure UAE SCA’s Full Virtual Asset Platform License

The nationwide SCA authorization gives Bybit a mainland license distinct from Dubai’s VARA regime.

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Bybit secures uae’s first full crypto exchange license
Bybit secures uae’s first virtual asset platform operator license
Bybit plans to establish a regional operations centre in Abu Dhabi with more than 500 employees. AFP

Overview

  • The full SCA license permits regulated trading, brokerage, custody, and fiat conversion for retail and institutional clients across the UAE.
  • Bybit plans a larger regional operations center in Abu Dhabi with more than 500 employees across Abu Dhabi and Dubai and accelerated local hiring.
  • The approval follows an in-principle nod in February 2025 that Bybit pursued with support from the Blockchain Centre Abu Dhabi.
  • Bybit says it is the first crypto exchange to receive the SCA’s full license, while it also maintains a provisional authorization under Dubai’s VARA framework.
  • The UAE authorization extends a 2025 compliance push that included an EU MiCA license in May and the resumption of full trading in India after registration and a $1 million settlement.