Current outcome
Bybit Fintech FZE holds an active VARA VASP license covering spot trading services, but the services are not yet launched; Bybit must complete the regulator's launch process and operational requirements, and no launch date has been announced.
Progress timeline
2 material updates- #01
Bybit Dubai entity secures VASP license from VARA for spot crypto trading
Bybit's Dubai entity, Bybit Fintech FZE, obtained a Virtual Asset Service Provider license from Dubai's VARA covering spot crypto trading, converting its 2024 in-principle approval into a full authorization.
Source evidence: wublockchainenglish · Bybit_Announcements
- #02
Bybit secures first full Dubai license for spot trading services
New detail: the VASP license is listed as active on VARA's register and authorizes spot trading services for retail, qualified, and institutional investors, but Bybit must still complete VARA's launch process and operational requirements before starting services; no launch date was provided.
State after update: Bybit Fintech FZE holds an active VARA VASP license covering spot trading services, but the services are not yet launched; Bybit must complete the regulator's launch process and operational requirements, and no launch date has been announced.
Source evidence: Cointelegraph