- Bybit’s Dubai entity received a VARA VASP license for exchange services including spot trading.
- The exchange still needs to complete launch and operational requirements before starting services.
Bybit has moved closer to offering spot trading in Dubai after receiving a new approval from the city’s virtual asset regulator. The Bybit Dubai license refers to a virtual asset service provider license granted to Bybit Fintech FZE by Dubai’s Virtual Assets Regulatory Authority for exchange services, including spot trading. According to the company, this follows an earlier in-principle approval that was not operational and did not allow customer service in Dubai. While VARA’s public register shows the new license as active for retail, qualified and institutional investors, Bybit said more steps are still required before services can begin.
Bybit Dubai license for spot trading
Bybit said Thursday that its Dubai entity, Bybit Fintech FZE, received a virtual asset service provider license from VARA. The authorization covers exchange services, including spot trading, and marks a step beyond the company’s earlier in-principle approval.
A Bybit spokesperson said that earlier approval was non-operational and did not permit the exchange to serve customers in Dubai. VARA’s public register now lists the license as active and says the services can be offered to retail, qualified and institutional investors.
What the VARA approval allows
The new license gives Bybit regulatory authorization for exchange services in Dubai, but it does not mean spot trading has already started. The company said it still has to complete VARA’s launch process before going live.
Bybit also said it must meet operational requirements before beginning spot trading services. The exchange did not provide a launch date, leaving the start of service dependent on the remaining regulatory steps.
Bybit Dubai license and earlier UAE approval
Bybit previously secured a full Virtual Asset Platform Operator license from the United Arab Emirates’ federal regulator, the Securities and Commodities Authority, in October 2025. That approval applied to a different entity, Bybit Virtual Asset Platform Operator LLC.
However, the exchange said the service restrictions tied to that SCA-licensed entity exclude Dubai from the jurisdictions it serves. A spokesperson declined to comment on how the VARA license differs from the SCA approval or whether the earlier license permitted services in Dubai.
Conclusion
The Bybit Dubai license gives the exchange a full VARA approval for exchange services that include spot trading, replacing an earlier in-principle approval that did not allow operations in Dubai. VARA’s register lists the authorization as active and says it covers retail, qualified and institutional investors through Bybit Fintech FZE. Even so, the company said it cannot begin offering spot trading yet because it still needs to complete the regulator’s launch process and satisfy operational requirements. Bybit did not share a date for when those final steps will be completed or when the service may begin
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