Crypto Exchange Bybit Opens Global Headquarters in Dubai – News

The company says it will hire 100 people

Bybit said it expects to double its transaction volume in the MENA region this year. – Photos provided

Bybit, the third most visited cryptocurrency exchange in the world and the second largest in the Middle East and North Africa region, opened its global headquarters in Dubai on Monday and plans to hire 100 employees.

With 15 million users worldwide, Bybit was one of the first trading services to receive in-principle approval from the Virtual Assets Regulatory Authority (VARA) to operate in Dubai. It also expects to receive a full license in the second quarter of this year.

“We’re going to start mass hiring in the UAE and the region. We’ve talked to universities about hosting hackathons and offering internships to local kids,” said Ben Zhou, Bybit CEO and co-founder.

In addition to moving about 80 staff from Singapore and Hong Kong to Dubai, the company will also be hiring to expand its marketing, community and business development, and other departments.

He said that Dubai is increasingly becoming a good choice because almost all cryptocurrency companies do business here.

The company said it was on track to double its deal volume in the MENA region this year.

Dubai has attracted some of the largest cryptocurrency companies in the world, including Crypto.com, Hex Trust, and more.

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

In order to attract the best talents, the Dubai government announced a golden visa for 100,000 programmers last year to increase the availability of talents in the local market to accelerate the development of the technology industry and meet the human resource needs of new-age technology companies.

In February, VARA released a comprehensive virtual asset framework based on the principles of economic sustainability and cross-border financial security.

“The digital economy is developing at breakneck speed and encryption and blockchain technology will be the backbone and connective tissue. As one of the most advanced digital asset hubs in the Middle East and the world, Dubai is in the best position to and infrastructure, international talent and vision to seize opportunities in the industry,” said Ben Zhou, CEO and co-founder of Bybit.