Bybit Secures Active VARA Spot Crypto License in Dubai, Excluding Derivatives

Bybit Fintech FZE, the crypto exchange's Dubai entity, announced on Thursday that it secured an active Virtual Asset Service Provider license from Dubai's Virtual Assets Regulatory Authority for spot exchange services across retail, qualified, and institutional investor tiers. While Bybit announced the milestone on Thursday, VARA's public register lists an issue date of June 20, 2026, following an earlier provisional, non-operational approval record issued on August 21, 2024. The active license strictly covers spot trading and excludes derivatives, even though perpetual futures and derivatives form a major segment of Bybit's global business across its reported user base of more than 80 million users. Bybit established its international headquarters in Dubai in 2022 and has collected five other licenses and regulatory approvals in 2026 across the European Union, Indonesia, South Africa, El Salvador, and the Cayman Islands. "Derivatives are a major part of Bybit’s global trading business." — Peter Loo, Chief Legal and Compliance Officer at Bybit.