Bybit Gets a Dubai VARA Licence: What It Covers for Spot Trading and What UAE Users Still Cannot Do (October 2026)

What was announced

On 22 October 2026 Bybit said in a press release that Bybit Fintech FZE secured a Virtual Asset Service Provider licence from VARA for Exchange Services, covering spot trading. Bybit describes the licence as a milestone in a city where it set up its international headquarters in 2022. Co-founder and CEO Ben Zhou said the company is pleased to take this next step in Dubai and looks forward to building its business in line with VARA's standards.

The sentence that matters most for traders came from Peter Loo, Bybit's Chief Legal and Compliance Officer: "In time, we also hope to expand our licensed activities to include derivatives, subject to the necessary regulatory approvals." Loo added that derivatives are a major part of Bybit's global trading business and that Bybit wants to bring more of its offering to Dubai through the appropriate regulatory process. That is a hope, not an approval, and Bybit gave no timetable.

The release also says Bybit has more than 80 million users worldwide and that its CEO's October keynote cited five new licences and regulatory approvals in 2026, across the European Union, the Cayman Islands, Indonesia, South Africa and El Salvador.

What the VARA register shows

We read the VARA public register on 23 October 2026. It lists Bybit Fintech FZE (Bybit) as a VASP Licence, reference VL/26/10/003, licensed activity Exchange Services, issued 2026/10/20, status Active. For comparison, the same register shows the two other big venues Dubai users ask about:

One outlet, Finance Magnates, reported that the register recorded 20 June 2026 as the issue date. The register page we read shows 20 October 2026, so we use that date. The practical point is the same either way: the licence is now active and covers spot Exchange Services only.

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Finance Magnates also reported that Bybit had received in-principle approval from VARA in 2024, that the register lets Bybit Fintech FZE serve retail, qualified and institutional investors, and that Binance's derivatives permission is limited to institutional and qualified investors rather than retail clients. We could not confirm the retail and qualified-investor wording on the register page ourselves, so treat that detail as reported, not verified.

What this means for a UAE user

Spot trading in Dubai now has a licensed local entity behind it. If you trade spot with Bybit's Dubai entity, the venue you deal with is licensed by VARA for exchange services. That is a regulatory fact about the entity, not a statement about the safety of any particular coin, price or trade.

Derivatives are a separate permission. Finance Magnates quotes VARA's rules as saying an exchange may offer derivatives only when the permission is explicitly included in its licence. Bybit's entry does not include it. Until Bybit's licence is expanded, you should not assume that perpetual futures, options or leverage products are offered to Dubai customers under this licence. Check what the app actually offers for your country of residence before you plan a strategy around it.

The licence is not federal. Finance Magnates notes that this Dubai authorisation is distinct from the federal Virtual Asset Platform Operator licence Bybit received from the UAE's Securities and Commodities Authority in 2025. It also notes that VARA regulates virtual-asset activity in Dubai including its free zones, but not the Dubai International Financial Centre. Which regulator applies to you depends on where you live and which Bybit entity serves you.

It does not change fees, listings or products overnight. Nothing in the press release announces new products, new fees or a change to who can open an account. For fees, our Bybit profile lists the current VIP 0 rates, and the Bybit vs Bitget comparison puts them next to another large venue.

How to check any exchange's Dubai licence yourself

1. Open VARA's public register and look for the exact legal entity, not the brand. Here the entity is "Bybit Fintech FZE (Bybit)".
2. Read the "Licensed Activities" column. "Exchange Services" is spot; "including VA Derivatives Trading" appears only where derivatives are permitted.
3. Check the status. "Active" means the licence is in force; the register also has a separate tab for in-principle approvals, which are not full licences.
4. Compare the entity name with the one in the exchange's terms of service for your country. Large exchanges run different entities in different regions.
5. Check again when an exchange announces something new. Licence scope is the first thing that changes when a venue expands into derivatives.

How to act on this

If you live in the UAE and use spot trading, the licence is a reason to read Bybit's Dubai terms and confirm that your account is with the licensed entity. If you are new to Bybit, our Bybit sign-up and KYC guide walks through registration, and the referral code 48553 can be entered at sign-up. If your plan depends on futures, do not rely on this licence: confirm in the app which products your account can use, and compare venues whose Dubai entities list derivatives permissions.

What we could not verify

Bybit's press release does not say which products and which customers Bybit Fintech FZE will serve first, or when. We could not confirm the retail-versus-qualified-investor conditions on the register page. We also found no official statement about whether Bybit's existing UAE customers move to the licensed entity, or when. We did not use any price forecast, and the licence says nothing about any coin's price.

Quick answers

Is Bybit licensed in Dubai? Yes, for spot Exchange Services. VARA's register lists Bybit Fintech FZE as Active with reference VL/26/10/003.

Can Bybit offer futures in Dubai under this licence? The register entry lists Exchange Services only, without the derivatives wording that Binance FZE and OKX Middle East Fintech FZE carry. Bybit says it hopes to add derivatives later, subject to approval.

When was the licence issued? The register page we read shows 20 October 2026, and Bybit announced it on 22 October. One outlet reported a June date for the register entry, which we did not see.

Is this the same as the UAE federal licence? No. Finance Magnates reports that Bybit also received a federal Virtual Asset Platform Operator licence from the Securities and Commodities Authority in 2025, which is a separate licence.

Does a licence mean my funds are safe? A licence means the entity is regulated for the listed activities. It does not guarantee any trade or coin, so keep your own risk controls such as withdrawal allowlists and two-factor authentication.

Where do I check it myself? On VARA's public register, searching for the legal entity name and reading the licensed activities column.