Bybit opens its new headquarters in Dubai
Cryptocurrency exchange Bybit shifted its headquarters from Singapore to Dubai, offering a full suite of products and services under the emirate’s test-adapt-scale virtual assets market model.
Celebrating the launch, Bybit has invited its global partners and affiliates to its new “community hub,” which aims to seed new talent and build a vibrant blockchain ecosystem. The exchange says it provides a range of unique spaces that can be used for various purposes, including professional meetups and live-streaming sessions. By adopting this approach, Bybit says it reinforces its commitment to an “open door” policy, which emphasizes transparency and is supported by its affiliates and partners.
“At Bybit, we are committed to creating a transparent and welcoming environment for our partners and affiliates. We want to revolutionize the idea of corporate offices and create a community hub for open exchange and creativity where friends of Bybit feel at home in Dubai,” said Ben Zhou, co-founder and CEO of Bybit.
“With the opening of our global headquarters in Dubai, we are building a cadence to bolster our presence in the region and become a trusted partner for global traders and investors. The new office was designed with our diverse community’s needs in mind, and we will share more about the designated function rooms and exclusive workshops and activities,” he added.
Back in June 2022, Bybit was among the first crypto platforms to receive Dubai’s virtual asset exchange (VAX) license soon after the regulators signed off the virtual assets law and established the Dubai VARA. The in-principal approval allows Bybit to conduct a full spectrum of virtual assets business under the initial regulatory phase. This includes offering exchange products and services to pre-qualified investors and professional financial service providers under strict oversight and mandatory FATF compliance controls.
Against the backdrop of a crashing market and burned investors, Dubai has recently sealed a landmark rulebook that governs how the Emirate will regulate cryptocurrency activities.
The new rules create a legal framework for crypto aimed at protecting investors and designing much-warranted international standards for industry governance. In addition, the VARA now has enforcement powers in the Dubai’s special development and free zones except for the Dubai International Financial Centre.
