News

Dubai Becomes Home To Cryptocurrency Exchange Bybit

Bybit attracts cryptocurrency users with its intuitive trading platform and 99.9% availability track record.

Published

3 years ago

April 4, 2022

dubai becomes home to cryptocurrency exchange bybit

Bybit has just joined the growing list of cryptocurrency exchanges that have settled in Dubai after the emirate embarked on a path to becoming a crypto-friendly destination with a robust regulatory regime.

Founded in 2018, Bybit currently has over two million registered users, who use the exchange to buy, sell, trade, and earn with cryptocurrencies.

According to the official announcement, Bybit wants to move its headquarters to Dubai and offer a full suite of products and services in the UAE from April 2022 onwards.

bybit founder dubai launching

“We are pleased to announce that Bybit has received in-principle approval to conduct a full spectrum of virtual assets business in the UAE,” states the exchange in the official announcement.

Bybit attracts cryptocurrency users with its intuitive trading platform and 99.9 percent availability track record. In addition to spot trading, Bybit users can also speculate, hedge, and increase leverage with futures contracts.

Other cryptocurrency exchanges that have a virtual asset to operate in Dubai include Binance, the world’s largest cryptocurrency exchange, and Crypto.com, a Singapore-based cryptocurrency exchange powered by the CRO token.

“Virtual assets such as cryptocurrency and blockchain have changed finance forever,” said H.E. Dr Thani Al Zeyoudi, UAE Minister of State for Foreign Trade and Minister in Charge of Talent Attraction and Retention. “To stay ahead in this fast-changing industry, we are building a business-friendly ecosystem with robust regulations to attract, retain and enable high-growth companies.”

Also Read: A Beginner’s Guide To Getting Started With NFTs

So far, the effort is bearing fruit because the Middle East is one of the fastest-growing cryptocurrency markets in the world, accounting for 6.6 percent of global cryptocurrency activity.

In the UAE alone, the digital economy contributes around 4.3 percent to the gross domestic product, and the number is expected to increase as more and more exchanges like Bybit take advantage of the favorable regulatory environment.

Related Topics:Bybit Cryptocurrency Dubai

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Yabi Introduces AI Financial Coach For Smarter Money Moves

The app provides real-time, personalized financial guidance, helping UAE residents manage money smarter, reduce debt, and build wealth effortlessly.

Published

10 hours ago

February 22, 2025

Nour Nasir

Yabi

Imagine having 24/7 access to an expert financial advisor — someone who understands your spending habits, helps you save more effectively, and offers guidance for every financial decision. That’s the vision behind Yabi’s revamped platform, an AI-driven finance app designed to transform personal finance management in the UAE.

Unlike traditional budgeting tools, Yabi acts as an always-available AI advisor, analyzing your unique spending patterns and offering real-time, tailored financial advice. Whether you’re making everyday purchases, planning a big trip, or saving for a major milestone, Yabi keeps you on track and helps you make informed financial choices.

Rakhil Fernando, CEO of Yabi, explains the mission behind the platform: “Financial literacy is not optional — it’s essential. But most financial tools today feel outdated and overly complex. Yabi is here to change that by offering AI-powered financial coaching that’s smart, simple, and accessible to everyone in the UAE”.

Here are some of the updated app’s new features:

AI-Powered Financial Coach: A 24/7 digital advisor providing real-time financial guidance based on your spending habits and available in multiple languages.
Live Insights: Connect your bank accounts for a detailed breakdown of your expenses.
Tailored Budgeting: Yabi creates a budget that fits with your actual spending habits rather than generic financial advice.
Interactive Financial Education: Learn the essentials of saving, investing, and credit management through engaging content integrated into the AI experience.
Automated Expense Tracking: Receive instant alerts on overspending, identify hidden charges, and cut unnecessary subscriptions with ease.
Credit Score & Financial Health Monitoring: Get free credit score checks and AI-driven recommendations to enhance your financial standing.

Also Read: A Guide To Digital Payment Methods In The Middle East

Finally, Yabi is also gearing up to introduce its own debit card and a suite of financial products, making it easier to save, spend, and invest within a single platform.

Want to try Yabi for yourself? You can download the app on the Apple App Store and Google Play Store.