Bybit Review: VARA Licence Scope for Dubai Spot Trading

Bybit Fintech FZE received an active Virtual Asset Service Provider licence from Dubai’s VARA on or around October 2026. The licence authorises spot trading services for retail, qualified, and institutional users but excludes derivatives. No customer-facing launch date has been set, and further operational steps remain before services activate.

Bybit VARA Licence Details and Permissions

The licence, reference VL/26/10/003 and CMA-VASP-1000000-0006, covers only exchange services. Bybit’s principal Dubai address is listed as Office TO4-Floor 10-10.01, The Office 4, One Central, Dubai World Trade Centre. The company maintains a local site at bybit.com/ae/. Spot trading forms the sole permitted activity under this approval.

Bybit already held a federal SCA Virtual Asset Platform Operator licence since October 2025, yet that authorisation does not extend to Dubai. The VARA licence followed earlier non-operational stages, including a preliminary MVP approval in June 2023 and a provisional status in 2024. Full operational activation now depends on completing VARA’s launch process and meeting remaining requirements.

Bybit states it serves more than 80 million users globally. Company executives have noted Dubai’s regulatory framework and expressed intent to seek additional approvals for derivatives in the future. Current permissions stop at spot markets only.

Compliance Requirements and Platform Limits

Users in Dubai face restrictions to spot trading until any derivatives approval is granted. No immediate service rollout is scheduled, and the platform must still satisfy final operational conditions. Hidden costs or commission schedules for the licensed entity have not been published separately from Bybit’s global fee structure.

Security and privacy obligations fall under VARA’s oversight, though specific licence conditions beyond the stated scope remain undisclosed in public records. The licence represents part of Bybit’s broader 2026 regulatory filings across multiple jurisdictions.

Common user complaints about the global platform, such as withdrawal delays or account verification times, continue to appear on independent forums. No public data yet links these issues directly to the new Dubai licence.

Comparison with Other Licensed Platforms

Binance holds a Dubai VARA licence that includes derivatives trading, though restricted to institutional and qualified investors. Bybit’s approval covers a wider retail base for spot activity but lacks the derivatives component. Both platforms operate under the same regulatory body yet differ in product scope and target segments.

Limitations include the absence of a confirmed launch timeline and the narrow product range compared with global offerings. Potential issues center on the need for separate approvals before broader services can operate in Dubai. The licence status remains active according to the VARA public register, with no reported suspensions or enforcement actions to date.