Bybit says its Dubai entity, Bybit Fintech FZE, has secured a Virtual Assets Regulatory Authority (VARA) license for exchange services, including spot trading. But the reported grant date and a “Pending” entry on VARA’s register leave both the timing and the license’s status on announcement day unclear.
- The license is reported to cover spot exchange services, not derivatives.
- VARA’s register is reported to show a June 20, 2026, grant date.
- Coinlaw said the register still showed “Pending” on the day Bybit announced the approval.
What Bybit says the license covers
Bybit announced on October 22 that Bybit Fintech FZE had received a VARA license for exchange services, including spot trading. Spot trading means buying or selling an asset for immediate settlement.
The announcement is dated October 22, but it does not specify a year. That matters because the reported date on VARA’s register is June 20, 2026. Without the announcement year and a dated copy of the register, it is impossible to establish the sequence.
Coinlaw said it checked VARA’s public register on announcement day and found Bybit’s status listed as “Pending.” That does not establish the license’s current status, but it leaves a key question unanswered: when did the authorization become final? Bybit’s Dubai license status still needs to be checked against the regulator’s records.
A long licensing path, with an unresolved endpoint
Bybit’s VARA process has been described as starting in March 2022. Reported milestones include a Minimum Viable Product Preparatory License in 2023, which did not allow the company to provide virtual-asset services in Dubai, and Provisional (Non-Operational) Approval for exchange services in September 2024.
Those milestones mark a gradual process. They did not grant permission to serve customers at every stage. If the reported June 20, 2026, grant date is correct, the process took more than four years. The date and the register status still need to be reconciled.
VARA regulates virtual assets in Dubai. Its license applies to the legal entity, activities and status recorded by the regulator. It is not blanket approval for every product Bybit offers elsewhere, including stablecoin transfers.
Derivatives are not part of the reported approval
Bybit has said it hopes to add derivatives to its Dubai-licensed activities, subject to further regulatory approval. Derivatives are contracts whose value is tied to an underlying asset. They differ from buying or selling that asset directly.
No approval or launch date for derivatives in Dubai is established here. Until VARA grants the necessary authorization, Bybit’s stated ambition does not amount to permission to offer those products.
A regulatory license can define which services a business may provide under a regulator’s rules. On its own, it does not guarantee protection from hacks, operational failures or losses. Nor does it prove that every part of an exchange’s security is sound.
Questions and answers
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Has Bybit announced a VARA license?
Yes. Bybit announced a license for its Dubai entity, Bybit Fintech FZE, covering exchange services that include spot trading. The reported register status and grant date leave the timing unclear.
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What does the reported license cover?
Exchange services, including spot trading. It does not establish authorization for every product Bybit offers.
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Can Bybit offer derivatives in Dubai?
No such approval is established. Bybit says it hopes to add derivatives, subject to regulatory approval.
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When did the license become final?
VARA’s register is reported to show June 20, 2026, while Coinlaw said the entry still showed “Pending” on announcement day. The available information does not resolve the discrepancy.
For customers, the key distinction is between a company’s announcement and an authorization recorded by the regulator. The legal entity, permitted activities, effective date and current status all matter. “Licensed” alone does not tell the whole story.
