Bybit’s new VARA licence authorizes spot trading services in Dubai, but the exchange must complete additional regulatory requirements before launching.
Crypto exchange Bybit has secured a full Dubai license for spot trading following its earlier in-principle approval.
Bybit said Thursday that its Dubai entity, Bybit Fintech FZE, received a virtual asset service provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) for exchange services, including spot trading.
A Bybit spokesperson told Cointelegraph that the entity’s previous in-principle approval was non-operational and did not permit it to serve customers in Dubai. VARA’s public register lists the new license as active, allowing services to retail, qualified and institutional investors.
