Crypto Exchange Bybit Opens Global HQ in Dubai
Policy
Crypto exchange Bybit has opened its global headquarters in Dubai, the company announced on Monday.
- The launch comes nearly a year after it had revealed plans to establish itself in the emirate based on an in-principle approval to move its global headquarters to the city.
- "As one of the most progressive digital assets hubs in MENA and the world, Dubai is optimally positioned to capture the opportunities in the sector," said Ben Zhou, CEO and co-founder of Bybit.
- During the recent crypto winter, Bybit, like several other firms in the space, had to weather lay-offs, and faced a derivatives trading ban in Brazil and penalties in Canada.
- Dubai is one of seven emirates that form the United Arab Emirates (UAE) and is an aspiring crypto hub in the region.
Read More: Dubai’s Crypto Industry Welcomes New Licensing Regime Amid Global Regulatory Uncertainty
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