Bybit secures first full Dubai license for spot trading services

Bybit’s new VARA licence authorizes spot trading services in Dubai, but the exchange must complete additional regulatory requirements before launching.

Crypto exchange Bybit has secured a full Dubai license for spot trading following its earlier in-principle approval.

Bybit said Thursday that its Dubai entity, Bybit Fintech FZE, received a virtual asset service provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) for exchange services, including spot trading.

A Bybit spokesperson told Cointelegraph that the entity’s previous in-principle approval was non-operational and did not permit it to serve customers in Dubai. VARA’s public register lists the new license as active, allowing services to retail, qualified and institutional investors. 

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