Cryptocurrency exchange Bybit is stepping up expansion in the Middle East and North Africa (MENA) market and has appointed Derek Dai as a new country manager, Cointelegraph reported on Sunday.
With regional tensions rising after the United States and Israel supplied Iran, attention has turned to the moves of UAE-headquartered Bybit. Bybit co-CEO Helen Liu (헬렌 리우) said, "While some companies are reducing their exposure to the Gulf region, we are instead increasing investment."
The MENA region is emerging as a key hub for the cryptocurrency industry. About 1,800 cryptocurrency companies operate in the UAE.
Abu Dhabi's ADGM financial free zone is growing rapidly, with new licence issuance rising 67% from a year earlier in early 2025, Cointelegraph said.
Bybit plans to strengthen its local presence by expanding trading in the UAE dirham, cooperating with financial institutions and developing tokenised real-world assets.
Chi-kyu Hwang
delight@d-today.co.kr