After two years of being headquartered in Dubai, Bybit, the world’s second-largest crypto exchange for derivatives trading, has obtained a provisional license from the Virtual Asset Regulatory Authority (VARA).
This centralized crypto exchange (CEX) has been granted a non-operational license, a major achievement in the company’s goal of expanding globally.
According to Bybit‘s Chief Operating Officer, Helen Liu, this new license is a significant step for the company’s growth, which is being fueled by Dubai’s efforts to become a leading blockchain hub.
With its favorable location, progressive policies, and supportive environment for innovation, Dubai offers unparalleled opportunities for businesses and investors in the cryptocurrency industry.
As more and more crypto companies move to Dubai, the city is quickly establishing itself as a top global destination with crypto-friendly regulations.
