Bybit becomes first exchange to receive full Virtual Asset Platform Operator license in UAE

Bybit has achieved a groundbreaking milestone by becoming the first cryptocurrency exchange to secure a complete Virtual Asset Platform Operator (VASP) license in the United Arab Emirates, positioning the region as a premier global digital asset destination. This historic regulatory approval signals the UAE's commitment to establishing itself as a leading blockchain and cryptocurrency hub, potentially attracting billions in international crypto investments.

The full VASP license enables Bybit to offer comprehensive digital asset services including Bitcoin, Ethereum, and altcoin trading, along with advanced DeFi products to institutional and retail clients across the Middle East. This regulatory achievement comes as the UAE continues implementing progressive cryptocurrency frameworks, contrasting sharply with restrictive policies in other jurisdictions.

Bybit's licensing success could trigger a domino effect, encouraging other major exchanges like Binance and Coinbase to accelerate their UAE expansion plans. The development strengthens the region's position in the global cryptocurrency ecosystem, potentially driving significant capital inflows and establishing new trading corridors between Middle Eastern markets and international blockchain networks. This regulatory clarity provides institutional investors with increased confidence to deploy capital in UAE-based digital asset operations.