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Dubai Becomes Home To Cryptocurrency Exchange Bybit
Bybit attracts cryptocurrency users with its intuitive trading platform and 99.9% availability track record.
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.
“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.
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HiFuture Wraps Up Successful GITEX GLOBAL 2024 Appearance
The electronics company wowed audiences at the world’s largest tech event with a range of wearable and smart audio devices.
This year’s GITEX GLOBAL 2024 in Dubai saw a huge number of startups, electronics firms, and innovators from around the globe gather for the tech sector’s largest event of its kind. One company making waves at this year’s expo was Chinese tech group HiFuture, which showcased a range of products with a focus on wearable technology and smart audio.
At the HiFuture booth, the company captivated attendees with cutting-edge smartwatches like the ACTIVE and AURORA, along with a range of powerful wireless speakers, earbuds, and even smart rings. Visitors were eager to check out the sleek new designs on offer and even had the chance to test out some of the products themselves.
Among the highlights were smartwatches combining dual-core processors with customizable options. The devices blended style and technology, offering health monitoring capabilities, personalized watch faces, and advanced AI-driven functionalities, giving attendees a taste of the future of wearable technology.
On the audio front, HiFuture’s wireless speakers left a lasting impression, offering rich, immersive sound in compact, portable designs. These speakers cater to both intimate gatherings and larger celebrations, offering versatility for users. Meanwhile, the company also showed off its Syntra AI technology, which it claims “revolutionizes health and fitness tracking by combining advanced optical sensors with intelligent algorithms for precise, real-time insights”.
Also Read: How (And Why) To Start A Tech Business In Dubai
The presence of HiFuture’s leadership team at GITEX 2024 underscored the importance of this event for the company, with CEO Levin Liu leading a team of executives, all keen to engage with attendees and offer insights into HiFuture’s vision, product development process, and future direction.
Overall, it seems that GITEX GLOBAL 2024 has been a rewarding experience for HiFuture. The enthusiasm and curiosity of attendees shown to the company’s diverse range of products was obvious, with the HiFuture team leaving on a high note and clearly excited and motivated by the event.
HiFuture Wraps Up Successful GITEX GLOBAL 2024 Appearance
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