United Arab Emirates’ position as a forward-thinking next cryptocurrency hub, Bybit has become the first global cryptocurrency exchange to be get a full Operational License in the UAE. This pivotal milestone, awarded by Dubai’s Virtual Assets Regulatory Authority (VARA), moves Bybit beyond a preliminary permit and grants it full authorization to offer a comprehensive suite of virtual asset services to institutional and qualified retail investors in the region.
This isn’t just a preliminary approval or a test phase. The Full Operational Market Product (FMP) License from VARA allows Bybit to legally provide a wide range of regulated virtual asset services within the UAE. This includes:
- Crypto-to-crypto spot trading services.
- Staking and earning services for qualified investors.
- Fiat-to-crypto trading pairs (allowing direct purchases with Dirhams).
- Custodial services for virtual assets and wallets.
This license places Bybit at the forefront of the region’s crypto economy, allowing it to serve the market with the full backing of a clear and comprehensive regulatory framework.
The UAE, and Dubai in particular, has aggressively positioned itself to become a global epicenter for the Web3 and blockchain industry. The granting of this first full license to Bybit is not an isolated event but a key part of a larger, strategic national vision.
The UAE, and Dubai in particular, has aggressively positioned itself to become a global epicenter for the Web3 and blockchain industry. The granting of this first full license to Bybit is not an isolated event but a key part of a larger, strategic national vision.
As the first mover with a full license, Bybit is uniquely positioned to lead the next wave of adoption in the Middle East and North Africa (MENA) region. The exchange has committed to working closely with VARA to ensure full compliance and to promote responsible participation in the digital assets ecosystem.
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