Share this article
Dubai Attracts Crypto.com, Bybit as Friendly Rules Bear Fruit
Crypto.com is establishing an office in Dubai while Bybit is moving its global HQ.
Updated May 11, 2023, 6:01 p.m. Published Mar 29, 2022, 2:18 p.m.
Make us preferred on Google
Some of the biggest cryptocurrency exchanges in the world now plan to establish hubs in Dubai after the emirate announced the creation of a crypto-friendly regulatory regime.
Crypto.com announced on Monday that it plans to establish an office in Dubai and will launch a "substantial recruitment drive" in the months ahead to build its presence there. Bybit also revealed plans to move its global headquarters to Dubai after having received in-principle approval to "conduct a full spectrum" of virtual assets business in the emirate.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The moves, announced on the same day, come weeks after Dubai revealed its intention to create a regulatory and licensing authority for virtual assets businesses. After the announcement, FTX Europe and Binance obtained operational licenses in quick succession.
Earlier this month, the UAE's financial markets regulator also said that it was close to issuing a regulatory framework for digital assets.
The Emirate of Dubai is one of seven emirates forming the nation of the United Arab Emirates (UAE). Another emirate, Abu Dhabi, has also been aggressive in its aim to become a crypto hub.
The apparent endorsement of digital assets comes as welcome news to crypto firms, especially given the mixed signals coming from other jurisdictions.
Read more: Crypto Payments Firm Wirex Withdraws From FCA's Register as Deadline Looms
For example, Singapore, the home of Crypto.com and the previous headquarter of Bybit, looked to curb the visibility of crypto firms before the public with new rules in January limiting the ability of such firms to advertise.
The Monetary Authority of Singapore stated that crypto is "highly risky and not suitable for the general public" and so digital payment token (DPT) service providers "should not promote their DPT services to the general public."
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
How the ultra-wealthy are using bitcoin to fund their yacht upgrades and Cannes trips
Cometh founder Jerome de Tychey is applying DeFi lending and borrowing on platforms like Aave, Morpho, and Uniswap to structures that help the ultra-wealthy secure loans against their massive crypto fortunes.
What to know:
- Wealthy investors who hold much of their fortune in crypto are increasingly turning to decentralized finance platforms to secure flexible credit lines without selling their digital assets.
- Firms like Cometh help family offices and other rich clients navigate complex DeFi tools, using assets such as bitcoin, ether and stablecoins to replicate traditional Lombard-style collateralized loans.
- DeFi loans can be faster and more anonymous than traditional bank credit but carry volatility and liquidation risks, and Cometh is also experimenting with applying DeFi strategies to traditional securities via ISIN-based tokenization.
Top Stories
