Cryptocurrency exchange Bybit receives approval in principle to conduct virtual asset business in the United Arab Emirates and move global headquarters to Dubai

Cryptocurrency exchange Bybit has received approval in principle to conduct a full range of virtual asset business in Dubai, the company announced today at a joint press conference with the Ministry of Finance. ‘Economy of the United Arab Emirates during the World Government Summit 2022. Bybit also announced its intention to establish its global headquarters in Dubai, offering a full range of products and services globally, under the model of market for the emirate’s “test-fit-scale” virtual assets.

Bybit stressed that it is fully committed to supporting the UAE government’s regulatory efforts and seeks to share its knowledge, experience and in-depth industry knowledge with all stakeholders. Bybit has a key role to play in educating retail investors and the general public on how to use virtual assets safely and responsibly, helping the UAE manage risk within a responsible growth framework.

“Bybit’s decision to open its global headquarters in Dubai is an important step in our efforts to position the UAE as a global digital hub,” said Dr. Thani Al Zeyoudi, Minister of State of the Arab Emirates. united for foreign trade and minister in charge of attracting and retaining talent. . “Virtual assets like cryptocurrencies and blockchain have changed finance forever. To stay ahead of this fast-paced industry, we are building a business-friendly ecosystem with strict regulations to attract, retain and enable strong growth of virtual businesses – this is paying dividends in terms of the next generation of FDI we see coming in. This will create jobs and investment opportunities and cement our position as one of the most attractive places in the world to live and work for those in virtual and Web 3.0 active industries”.

“Bybit is excited to contribute virtual asset innovations to the emirate’s vibrant economy and to have our global headquarters in Dubai. I believe we could help stakeholders better understand this complex industry as the virtual asset space continues to rapidly mature. This approval in principle is an extraordinary opportunity for Bybit to support the ambition of the UAE and the wider region to become a global technology hub for virtual assets,” said Ben Zhou, Co-Founder and CEO of Bybit. .

Led by a sophisticated management team with talents in fintech, IT, virtual assets, investment and legal, Bybit is one of the fastest growing virtual asset platforms. fast with a peak daily trading volume of US$76 billion as of May 2019. 2021. It is the third most digitally visited virtual asset company in the world.

Bybit’s new headquarters is expected to start operations in April 2022 and has begun the process of recruiting talent and moving existing teams and operations to its new headquarters in Dubai.

The new UAE Dubai Virtual Assets Regulatory Act was announced earlier this month. Its goal is to establish a regulatory framework for the sector designed to stimulate the industry by providing strong safeguards that protect investors, facilitate cross-border transparency and ensure global market integrity.

About Bybit
Bybit is a virtual asset platform created in March 2018, featuring a super-fast matching engine, excellent customer service, and multilingual community support. The Company offers innovative online spot and derivatives trading services, mining and staking products, NFT market and API support to retail and institutional clients worldwide, and strives to to be the most trusted platform for the emerging virtual asset class. Bybit recently became the main partner of Formula 1 racing team, Oracle Red Bull Racing.

For updates, follow Bybit’s social media platforms at

https://discord.com/invite/bybit
https://www.facebook.com/Bybit
https://www.instagram.com/bybit_official/
https://www.linkedin.com/company/bybitexchange/
https://www.reddit.com/r/Bybit/
https://t.me/BybitEnglish
https://www.tiktok.com/@bybit_official
https://twitter.com/Bybit_Official
https://www.youtube.com/c/Bybit

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