Bybit Says Dubai Licence Covers Spot Trading, but Its Status and Scope Need Confirmation
A Bybit release dated Oct. 22, 2026, says its Dubai entity, Bybit Fintech FZE, received a Virtual Asset Service Provider (VASP) licence from Dubai’s Virtual Assets Regulatory Authority (VARA) for Exchange Services covering spot trading. The company cites no VARA record or regulator announcement, leaving the licence’s status and precise scope unconfirmed.
- Named entity: Bybit Fintech FZE
- Reported regulator: Dubai’s VARA
- Stated scope: Exchange Services covering spot trading
- Derivatives: Bybit says it may seek approval for them later
What Bybit says the licence covers
According to the company release, VARA granted Bybit Fintech FZE a VASP licence for Exchange Services covering spot trading. Spot trading means buying or selling an asset at its current market price, rather than trading a contract based on its future price.
The release describes the company’s account of the authorization. It does not establish which products VARA permits or what operating conditions apply. The available information specifies no licence number, effective date, conditions, trading pairs or customer limits.
That distinction matters. A licence for a specific service does not show that every product a crypto platform offers is authorized in that jurisdiction. The release does not say the reported licence covers derivatives, contracts whose value is linked to an asset or another reference.
Derivatives remain a stated future ambition
Bybit Chief Legal and Compliance Officer Peter Loo said the company hopes to expand its licensed activities to include derivatives, subject to regulatory approval. That describes a possible future step, not confirmation that derivatives are currently authorized in Dubai.
The available information does not say whether a future derivatives offering would require a separate licence or an amendment to the reported authorization. It also gives no details about the approval process or timeline.
Bybit co-founder and CEO Ben Zhou described the reported licence as another step in the company’s Dubai plans. As with the licence details, those remarks come from the company’s release.
What still needs confirmation
Bybit says it established its international headquarters in Dubai in 2022. The release also describes the company’s engagement with Dubai’s blockchain and Web3 community, but names no specific partnerships or initiatives. These broader claims offer little detail about the licence’s legal status or practical scope.
A VARA register entry or official announcement identifying Bybit Fintech FZE, the licence status, authorized activity and any applicable conditions would clarify what the authorization allows. Until then, readers should not treat the company’s description as independent confirmation of what Dubai customers can access.
Key questions and answers
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Which Bybit entity reportedly received the Dubai licence?
Bybit names Bybit Fintech FZE. No cited VARA record or regulator announcement corroborates the claim.
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What services does Bybit say the licence covers?
The company describes the scope as Exchange Services covering spot trading. The information provided does not establish the specific products, conditions or limits.
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Does the reported licence authorize derivatives?
The available information does not establish that derivatives are authorized. Bybit says it hopes to add them later, subject to regulatory approval.
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What would confirm the licence’s status and scope?
A VARA record or official announcement identifying the licence, its status and authorized activities would help clarify what Bybit Fintech FZE may offer. Spot is the stated trading scope, while spot trading and crypto trading are also being discussed by other financial firms.
