Crypto exchange Bybit opens global headquarters in Dubai

Crypto exchange Bybit has opened its global headquarters at Dubai's World Trade Centre.

This was announced by Ben Zhou, CEO and Co-founder of Bybit in a blogpost. Dubai's unique appeal was a particular draw for Bybit, he said in the post.

The newly established headquarters will be open for connections with partners for different opportunities in the crypto space. Bybit is also looking to cultivate local talent through educational and innovative initiatives such as workshops and hackathons at different local universities, the blogpost read.

"Despite the tumultuous markets, global economic uncertainty and other sobering moments in our industry, Bybit has devoted our time to cultivating our MENA communities, scouting top talent and engaging with the Virtual Assets Regulatory Authority to pave the way for sustainable growth in the Middle East and beyond," said Zhou.

Over 400 crypto and blockchain businesses are operating in the region's digital assets hub. Bybit holds the second spot among the top exchanges, Zhou said.

"In less than a year, our diverse teams from across the world have achieved $33.5 billion in trading volume in MENA, and we are on track to double that in 2023," he said.

The crypto exchange currently supports customers across 160 countries in over 16 languages.

"Bybit had a niche start in Asia catering to professional traders and institutions, but it did not take long—four years to be exact, for our dreams and aspirations to reach over 10 million users in the world," said Zhou.