general

Crypto company “Bybit” obtains initial approval to conduct its business in the United Arab Emirates

Crypto company “Bybit” obtains initial approval to conduct its business in the United Arab Emirates

The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles

Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles

Answer Crypto company “Bybit” obtains initial approval to conduct its business in the United Arab Emirates

Bybit, one of the major cryptocurrency exchanges, announced on Monday that it has received approval in principle to conduct a virtual asset business in Dubai.

According to the press release, this was officially announced by the UAE Ministry of Economy at the World Government Summit 2022.

As part of the announcement, Bybit has told that it will establish its global headquarters in Dubai, where it will offer a range of products and services under the Dubai-based adaptive testing model for virtual asset markets.

Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade and Minister Responsible for Attracting and Retaining Talent, commented:

Read:A noticeable rise in the price of the Juventus digital currency (JUV) after the latest news of Ronaldo

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.

Virtual assets like cryptocurrency and blockchain have changed finances forever.

To stay at the forefront of this rapidly changing industry, we are building a business-friendly ecosystem with strong regulations to attract, retain and empower high-growth companies, and this benefits the next generation of foreign direct investment that we are seeing.

Bybit platform in numbers:

Bybit’s daily trading volume reached $76 billion in May 2021, making the cryptocurrency exchange one of the fastest growing cryptocurrency platforms.

According to data collected by Google and Yandex, it is the third most visited crypto company in the world.

Bybit’s new headquarters in Dubai is expected to start operations as early as April 2022.

The company has begun recruiting talent and moving existing teams and operations to its new location. Bybit CEO Ben Zou commented:

Bybit looks forward to contributing to virtual asset innovations to the emirate’s vibrant economy and the presence of our global headquarters in Dubai.

Read:The “AAVE” project launches decentralized liquidity pools for enterprises

I believe we can help increase stakeholder understanding of this complex industry as the virtual asset space continues to mature rapidly.

This approval in principle is an exceptional opportunity for Bybit to support the UAE and the broader region’s ambition to become a global hub for virtual asset technology.

Read also:

A school in Dubai accepts Bitcoin and Ethereum tuition fees…Details here

Important step: Cardano now supports dApps


And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time

Previous post
Microstrategy intends to buy more bitcoin after taking out a new loan
Next post
A school in Dubai accepts Bitcoin and Ethereum tuition fees…Details here