Bybit Gets Approval From The UAE Government To Operate Domestically

Bybit gets an operating permit from the UAE government. (Photo; Doc. Write Caliber)

JAKARTA - Bybit, a crypto exchange that is in 2nd position among more than 400 crypto and blockchain businesses in the Middle East region, further strengthens its position in the global crypto market.

The reason is, in less than a year, the trading volume of crypto exchanges in the Middle East and North Africa (MENA) has reached 33.5 billion US dollars, and is predicted to continue to double in 2023.

Dubai has always been known as the paradise of crypto companies because of its supporting legal policies. In addition to sufficient resources and investment, Dubai and the United Arab Emirates also have an advanced and open view of future technology.

So that it is able to lead a fully integrated digital economy with new technology. Dubai has an important role as a liaison for ideas, international trade, and culture that connects the East and West.

On March 28, crypto exchange Bybit announced that it had obtained IPA (approval in principle) approval in the United Arab Emirates to run a virtual asset business in the country.

Bybit also announced it would support UAE government regulatory work, open global headquarters in Dubai, and provide a wide range of crypto asset products and services worldwide.

Now, Bybit has served customers in more than 160 countries with more than 16 available languages. With the status as the fastest crypto growth center, Crypto Ark, Bybit is moving rapidly, ready to spur financial freedom in the future of the economy.