After obtaining initial approval to conduct business in the field of virtual assets

Cryptocurrency exchange Bibit intends to move its global headquarters to Dubai

The digital currency trading platform "Bybit" announced, during a joint press conference with the Ministry of Economy, today, that it had obtained preliminary approval to conduct an integrated set of business in the field of virtual assets in the UAE.


relocation of headquarters

Bybit also announced that it plans to move its global headquarters to Dubai, to become a global service provider subject to regulations in the field of virtual assets, in order to provide an integrated set of products and services globally, within the framework of the "test, adapt and expand" model adopted within the virtual assets market in the country. UAE.

Bybet stressed that it is fully committed to supporting the UAE government's regulatory efforts and looks forward to sharing its knowledge, experience and insights with all stakeholders.

Bybit confirmed that it plays a key role in educating retail investors and the public in general on how to use virtual assets in a safe and responsible manner, which helps the UAE to manage risks, in a framework of responsible growth.


new achievement

Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, said that Paybit's decision to open its global headquarters in Dubai is a new achievement in efforts to strengthen the UAE's position as a global center for digital assets.

He added, “Virtual assets, such as digital currencies and (blockchain), have changed the finance sector forever, and to keep pace with this rapidly changing sector, we are establishing a business-friendly ecosystem to attract, retain and empower high-growth companies, which increases the country’s attractiveness to the next generation of foreign investment. direct, which we are currently witnessing.”

Al Zeyoudi stressed that this will provide jobs and investments, and will enhance our presence as one of the most attractive destinations in the world to reside and work for workers in the field of virtual assets and “Web 3.0.”


exceptional opportunity

For his part, the co-founder and CEO of Bybit, Ben Zou, said that the company is looking forward to having its global headquarters in the UAE, as it continues to innovate around the world and contribute to the innovations of virtual assets within the active UAE economy.

He added: “We believe that we can help increase stakeholder understanding of this complex sector, as the field of virtual assets and digital currencies continues to mature rapidly, noting that the initial approval to conduct the business represents an exceptional opportunity for (Baybit) to support the ambition of the UAE and the region as a whole, to transform into A global center for virtual asset technology.


Bybit platform

Bybit is a cryptocurrency trading platform established in March 2018. It provides a professional platform that enables cryptocurrency traders to find a super-fast matching engine, and offers multilingual customer service and support.

The company also provides innovative online services for trading spot assets and derivatives, mining and stake products, a non-fungible token market (NFT), as well as API support for retail and institutional clients around the world, and seeks to achieve the greatest possible reliability as a trading platform for emerging digital assets.

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