Bybit Secures Dubai Spot Trading Licence, Aims for Derivatives Approval
Bybit has obtained a spot trading licence from Dubai's VARA, while Revolut's Gibraltar subsidiary gains a DLT licence for virtual asset services.
Bybit has obtained a spot trading licence from Dubai's VARA, while Revolut's Gibraltar subsidiary gains a DLT licence for virtual asset services. This is an original Token Times brief synthesising 2 outlets (Crypto.news, The Cryptonomist), plus live market data, as of Thu, 22 Oct 2026 15:00:01 UTC.
The development highlights the growing regulatory acceptance of crypto exchanges in key jurisdictions, with implications for market expansion and institutional adoption. Dubai's proactive stance could position it as a crypto hub.
- Bybit gains VARA licence for spot trading in Dubai
- Derivatives trading requires separate approval
- Revolut's Gibraltar subsidiary secures DLT licence
- Dubai emerging as a crypto-friendly jurisdiction
Both Crypto.news and Crypto Daily report that Bybit has secured a spot trading licence from Dubai's Virtual Assets Regulatory Authority (VARA), while derivatives trading remains subject to separate approval. However, Crypto Daily provides additional context about Revolut's Gibraltar subsidiary receiving a DLT licence for virtual asset services, which Crypto.news does not mention. Both outlets emphasise the strategic importance of Dubai's regulatory environment for crypto exchanges.
Bybit has obtained a Virtual Asset License from Dubai's Virtual Assets Regulatory Authority (VARA) for spot trading, according to multiple outlets. This licence allows the exchange to offer spot trading services to users in Dubai, marking a significant step in the company's global expansion strategy.
The licence approval comes as part of Dubai's efforts to establish itself as a leading crypto hub. Bybit's move follows similar regulatory approvals in other jurisdictions, reflecting a broader trend of crypto exchanges seeking regulated status to attract institutional clients and expand their market presence.
While the spot trading licence has been granted, derivatives trading remains subject to separate approval from VARA. This distinction highlights the regulatory scrutiny that derivatives products face, given their higher risk profile compared to spot trading.
In related news, Revolut's Gibraltar subsidiary has received a Distributed Ledger Technology (DLT) licence from the Gibraltar Financial Services Commission. This licence covers virtual asset order execution, custody, and staking services, according to Crypto Daily. The development underscores the increasing regulatory acceptance of crypto services in various jurisdictions.
The total crypto market cap stands at $2.8 trillion, with 
Bitcoin down 2.23% in the last 24 hours. The overall market sentiment, as measured by the Fear & Greed Index, remains in 'Greed' territory at 68, indicating a cautious optimism despite recent market fluctuations.
Figures and sectors in this story, checked live against on-chain aggregators · October 22, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Bybit Secures Dubai Spot Trading Licence, Aims for Derivativ — questions & answers
What crypto licences has Bybit obtained in Dubai?
Bybit has secured a spot trading licence from VARA but needs separate approval for derivatives trading.
What services does Revolut's Gibraltar licence cover?
Revolut's Gibraltar licence covers virtual asset order execution, custody, and staking services.
Why is Dubai's regulatory environment important for crypto?
Dubai's proactive regulatory approach aims to attract crypto businesses, positioning it as a potential global hub for the industry.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Crypto.news, The Cryptonomist, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.