Crypto exchange Bybit has opened its global headquarters in Dubai, the company announced recently. 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