UAE welcomes Bybit and heralds growth of 'next generation FDI'
Bybit is committed to a continuous constructive dialogue with regulators and legislators in the UAE and will play a key role in educating investors and wider public on digital assets
Dubai, United Arab Emirates--(Newsfile Corp. - March 28, 2022) - Cryptocurrency exchange business Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in Dubai, the firm announced today at a joint press conference with the UAE Ministry of Economy at the World Government Summit 2022. Bybit also announced that it plans to set up its global headquarters in Dubai, offering a full suite of products and services globally, under the Emirate's "test-adapt-scale" virtual assets market model.
Bybit stressed it was fully committed to supporting the regulatory efforts of the UAE government and is looking to share its in-depth industry knowledge, experience and insights with all stakeholders. Bybit has a key role to play in educating retail investors and the wider public in how to use virtual assets in a safe and responsible manner, helping the UAE manage risks within a framework for responsible growth.
"Bybit's decision to open its global headquarters in Dubai is a milestone in our efforts to position the UAE as a global digital hub," said H.E. Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade and Minister in Charge of Talent Attraction and Retention. "Virtual assets such as cryptocurrency...
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