DGAP-News

Cryptocurrency Exchange Bybit Receives In-Principle Approval to Conduct Virtual Asset Business in UAE and Move Global Headquarters to Dubai - Seite 2

"Bybit looks forward to contributing to the virtual assets innovations of the Emirate's vibrant economy and having our global headquarters in Dubai. I believe we could help further stakeholders' understanding of this complex industry as the virtual assets space continues to rapidly mature. This in-principle approval is an extraordinary opportunity for Bybit to support the UAE and the wider region's ambition to become a global virtual assets technology hub," said Ben Zhou, co-founder and CEO of Bybit.

Led by a sophisticated management team with talent from fintech, IT, virtual assets, investment, and legal background, Bybit is one of the fastest growing virtual assets platforms with its peak daily trading volume of US$76 billion in May 2021. It is the third most digitally visited virtual assets business in the world.

Bybit's new headquarters office is expected to commence operations in as early as April 2022 and it has started the process of hiring talent and transferring existing teams and operations to their new home in Dubai.

The UAE's new Dubai Virtual Asset Regulation Law was announced earlier this month. It aims to establish a regulatory framework for the sector designed to boost the industry providing robust guardrails that protect investors, facilitate cross-border transparency, and assure global market integrity.

About Bybit

Bybit is a virtual assets platform established in March 2018 that features an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, an NFT marketplace as well as API support, to retail and institutional clients around the world, and strives to be the most reliable platform for the emerging virtual assets class. Bybit has recently become the Principal Team Partner of Formula One racing team, Oracle Red Bull Racing.

For more information please visit: https://www.bybit.com/

For updates, please follow Bybit's social media platforms on

https://discord.com/invite/bybit
https://www.facebook.com/Bybit
https://www.instagram.com/bybit_official/
https://www.linkedin.com/company/bybitexchange/