Crypto exchange Bybit opens global headquarters in Dubai – News

The company says it will recruit 100 people

Bybit said it is on track to double trade volume in the Mena region this year. – Attached picture

Bybit, the world’s third most visited crypto exchange and the second largest in the Mena region, opened its global headquarters in Dubai on Monday and plans to recruit 100 people.

With 15 million users globally, Bybit is one of the first exchange services to receive in-principle approval from the Virtual Asset Regulatory Authority (VARA) to operate in Dubai. it also expects to be fully licensed in the second quarter of this year.

“We are going to start hiring massively here in the UAE and the region. We have already talked to universities to host hackathons and provide internships for the local kids,” said Ben Zhou, CEO and co-founder of Bybit.

In addition to moving around 80 people from Singapore and Hong Kong to Dubai, the company will hire to expand marketing, community and business development, as well as other departments.

He said Dubai is increasingly becoming a good choice because literally every crypto company has a presence here.

The company said it is on track to double its trading volume in the Mena region this year.

Dubai has attracted some of the world’s largest cryptocurrency companies, including Crypto.com, Hex Trust among others.

The emirate is the third largest crypto market in the Middle East Africa South Asia (MEASA) and hundreds of crypto-related events are held in the emirate every year.

To attract the best talent, the Dubai government last year announced a golden visa for 100,000 coders to improve the availability of talent in the local market to accelerate the growth of technology sectors and meet the demand for human resources from the new era of technology. companies.

In February, VARA issued a comprehensive framework for virtual assets built on principles of financial sustainability and cross-border financial security.

“The digital economy is advancing at an incredible speed and crypto and blockchain technology will be the backbone and connective tissue. As one of the most progressive digital asset hubs in Mena and the world, Dubai is optimally positioned to capture the opportunities in the sector by bringing together state-of-the-art technology and infrastructure, international talent and vision,” said Ben Zhou, CEO and co-founder of Bybit.