Crypto exchange platform Bybit has received a full virtual asset platform operator license from the Securities and Commodities Authority (SCA) of the United Arab Emirates.
This final approval comes eight months after the company received in-principle approval from the regulator.
The license allows Bybit to offer its full range of products and services to the UAE market.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange
This milestone is part of Bybit's global expansion, which has recently included regulatory approvals in Austria and a return to the Indian market.
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The approval comes at a time when UAE authorities are working to unify their regulatory framework, a move aimed at simplifying the licensing process for cryptocurrency companies operating across the region.