Bybit Fintech FZE has obtained a virtual-asset service provider licence from Dubai’s Virtual Assets Regulatory Authority (VARA) covering spot exchange activities. The authorization does not extend to derivatives, which would require separate regulatory approval, according to Bybit’s management. The company established its international headquarters in Dubai in 2022 and says it intends to expand its activities under the local regulatory framework. Bybit reports a global user base of more than 80 million, but this figure does not indicate how many customers are eligible for the Dubai licence or the level of local trading volumes.
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