ByBit Becomes UAE’s First Regulated Crypto Exchange With SCA License

Bybit, the second-largest cryptocurrency exchange by trading volume, has received the UAE’s first Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA). The achievement, announced via a press release, makes Bybit the first crypto exchange to get a comprehensive license in the UAE.

Bybit Secures SCA License

The process for Bybit began with an In-Principle Approval from the SCA in February 2025, with guidance from the Blockchain Centre in Abu Dhabi. With the permit, Bybit will offer regulated trading, brokerage, custody, and fiat conversion services in the UAE. 

Reacting to the development, CEO Ben Zhou noted with excitement how the exchange has remained strong through its recent ordeals. He said,

“Receiving the full Virtual Asset Platform Operator License from the SCA is a testament to Bybit’s unwavering commitment to building trust through compliance and transparency. The UAE has emerged as a global leader in digital asset regulation, and this recognition underscores the strength of our security and governance standards.”

The latest milestone follows a series of recent similar achievements. For example, in May 2025, the exchange obtained a Markets in Crypto-Assets Regulation (MiCA) license from Austria’s Financial Market Authority (FMA). The license enables it to operate as a regulated crypto-asset service provider (CASP) across all 29 European Economic Area (EEA) member states. The firm also fully resumed trading in India in September. 

UAE Expansion Plans

The full license from the SCA shows the regulator’s trust in the exchange’s secure and clear operations. With the SCA license in hand, the exchange is set to deliver advanced services tailored to both retail and institutional clients. The exchange plans to create a major operations hub in Abu Dhabi. It also intends to hire more than 500 employees in Abu Dhabi and Dubai, focusing on compliance and customer support. 

Additionally, Bybit plans to launch new Web3 and educational projects with local partners. With the UAE’s welcoming regulations, the SCA’s clear guidelines allow exchanges like Bybit to operate with confidence. 

Moreover, Bybit’s expansion plan aligns with the UAE’s vision for financial innovation. Collaborations with local organizations will enhance educational efforts and foster innovation in the sector. With the SCA license in hand, the exchange is set to deliver advanced services tailored to both retail and institutional clients.

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