Bybit VARA License Review: Dubai Spot Trading Compliance and Platform Details

Bybit VARA License Overview and Background

Bybit Fintech FZE obtained a Virtual Asset Service Provider licence from Dubai’s Virtual Assets Regulatory Authority for Exchange Services on June 20, 2026, with public announcement on October 22, 2026. The licence reference appears as VL/26/10/003 in register records and covers only spot trading of virtual assets. The company established its international headquarters in Dubai in 2022 and lists its address at Office TO4-Floor 10-10.01, The Office 4, One Central, Dubai World Trade Centre.

Earlier steps included an In-Principle Approval from VARA in August 2024 under reference IPA/24/08/001. Bybit also holds a separate federal Virtual Asset Platform Operator Licence from the UAE Securities and Commodities Authority, granted in October 2025, which covers trading, brokerage, custody, and fiat conversion on the UAE mainland. The new VARA licence permits service to institutional, qualified, and retail investors under active status.

Chief Executive Ben Zhou stated that Dubai has made progress in virtual asset regulation and that Bybit intends to align operations with VARA standards. Chief Legal and Compliance Officer Peter Loo emphasized the importance of strong oversight, risk management, and user protection while planning to expand licensed activities through additional approvals.

Spot Trading Services, Compliance Features and Scope

The licence authorises Exchange Services limited to spot trading. It does not extend to derivatives trading or other products that form a significant portion of Bybit’s global volume. The company has indicated plans to seek separate regulatory approval for derivatives in the future. No specific asset lists, trading pairs, or launch timeline for the Dubai-licensed spot services were released in the October 2026 announcements.

Compliance elements include adherence to VARA’s framework for oversight, risk controls, and investor protection. The platform serves more than 80 million users worldwide and ranks among leading exchanges by trading volume. The Dubai licence adds a regulated pathway for spot activity in the UAE while the company maintains its existing SCA licence for broader operations across the mainland.

Registration for users falls under the licensed entity Bybit Fintech FZE. Technical requirements and interface details remain consistent with the global Bybit platform; no separate onboarding flow or additional technical specifications were disclosed for the VARA-licensed services.

Limitations, Potential Issues and Platform Context

Scope remains restricted to spot trading, leaving derivatives and other offerings outside the current VARA approval. Some public sources noted a temporary discrepancy between the company’s announcement language and initial register listings, though multiple outlets confirmed active licence status following the press release. No confirmed operational launch date or fee schedule specific to the Dubai entity has been published.

Bybit continues to pursue further approvals from VARA and other regulators. The licence reinforces the exchange’s compliance positioning without altering core platform features or global user access. Users considering the Dubai entity should verify current permitted activities directly on the VARA public register, as expansions require additional approvals.