, Bybit to set up shop in Dubai and Bybit announced plans to set up offices in Dubai at the World Government Summit on March 28th

The two companies collectively boast roughly 15 million users and billions in trading volume processed and Bybit have been marketing aggressively in recent months and are now following it up with expansion across the globe.

Dubai is trying to position itself as a global hub for the emerging crypto industry and recently launched a new virtual assets regulatory authority

It is also engaged in formulating a comprehensive legal and regulatory framework for virtual assets will open a new regional headquarters in the Emirate, and employ roughly 100 to 200 staff, including engineers

It is currently in the process of looking for office space.’s COO Eric Anziani said

Bybit said it has received approval to offer a full suite of virtual asset services.

A number of the country’s banks and companies are heavily involved in blockchain technology, including government-backed entities and projects.