The launch comes nearly a year after Bybit 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," Ben Zhou, CEO and co-founder of Bybit, said in the press release, referring to the Middle East North Africa region.
During the recent crypto winter, Bybit, like many other crypto firms, had to weather layoffs. It also faced a derivatives trading ban in Brazil and penalties in Canada.
Dubai is one of seven emirates that form the United Arab Emirates and is an aspiring crypto hub in the region.

Dubai Bybit Crypto Exchange Middle East

Amitoj Singh

Amitoj Singh is a CoinDesk reporter focusing on regulation and the politics shaping the future of finance. He also presents shows for CoinDesk TV on occasion. He has previously contributed to various news organizations such as CNN, Al Jazeera, Business Insider and SBS Australia. Previously, he was Principal Anchor and News Editor at NDTV (New Delhi Television Ltd.), the go-to news network for Indians globally. Amitoj owns a marginal amount of Bitcoin and Ether below CoinDesk's disclosure threshold of $1,000.