Bybit Secures Full Dubai Licence for Spot Trading, but Derivatives Remain Out of Reach

Bybit has secured full regulatory clearance in Dubai for spot trading, but the exchange’s core business - crypto derivatives - remains on the waiting list.

While rivals Binance and OKX already hold local derivative permissions under the emirate's Virtual Assets Regulatory Authority (VARA), Bybit’s newly activated licence limits its local footprint strictly to cash-market exchange services.What the Dubai Licence Allows Bybit received the in-principle approval from Dubai’s Virtual Assets Regulatory Authority in 2024, now it enters into VARA’s fully licensed category.

VARA’s public register lists the licence as active and permits Bybit Fintech FZE to serve retail, qualified and institutional investors.

Although Bybit announced the approval on 22 October, the register records 20 June 2026 as the licence issue date.

This Dubai authorisation is distinct from the federal Virtual Asset Platform Operator licence that Bybit received from the UAE’s Securities and Commodities Authority in 2025.

VARA regulates virtual-asset activity in Dubai, including its free zones, except for the Dubai International Financial Centre.

The most significant limitation is that Bybit’s Dubai licence does not permit derivatives.

VARA’s rules state that an exchange may offer such products only when the permission is explicitly included in its licence.

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