Global cryptocurrency exchange Bybit has appointed Derek Dai as Country Manager for the Middle East and North Africa (MENA), reinforcing the company’s long-term commitment to the United Arab Emirates as a strategic hub for digital asset innovation.
In his new role, Dai will lead Bybit’s regional strategy across the MENA region. His responsibilities will include market expansion, regulatory collaboration, institutional partnerships, and the development of localized digital asset products.
The appointment follows the exchange securing a regulatory license from the UAE Securities and Commodities Authority, strengthening its regulated presence in the region.
Strategic Expansion Across the Middle East
According to Helen Liu, Co-CEO of Bybit, the company is deepening its regional presence at a time when some firms are reassessing their exposure to the Gulf market.
“The UAE gave Bybit a home. You do not abandon your home when the storm comes — you stand in the doorway,” Liu said. “While some companies are reconsidering their regional footprint, we are strengthening our presence, investment, and commitment to this market.”
Bybit’s expansion comes as the Middle East increasingly emerges as a key global hub for digital finance and blockchain innovation.
Focus on Partnerships and Digital Asset Infrastructure
Dai emphasised that the company plans to work closely with financial hubs such as the Dubai International Financial Centre and Dubai Multi Commodities Centre to accelerate digital asset adoption.
“The Middle East is becoming one of the most influential regions shaping the future of digital finance, with the UAE leading the development of a progressive and well-regulated ecosystem,” Dai said.
In the coming months, Bybit aims to expand access to AED fiat payment channels and strengthen partnerships with regional banks and payment service providers. The company is also exploring the development of Shariah-compliant financial products and tokenised real-world assets to bridge traditional finance with the digital asset economy.
Expansion Plans Across the GCC
Beyond the UAE, Bybit plans to expand its footprint across the Gulf Cooperation Council markets.
According to Dai, Bahrain represents one of the next strategic milestones for the company’s regional expansion. These initiatives align with Bybit’s broader objective to support responsible digital asset adoption while strengthening regulatory cooperation across the Middle East.
Community Engagement and Business Continuity Measures
Bybit has also expanded its community engagement efforts in the UAE. During the holy month of Ramadan, the company partnered with the Emirates Red Crescent to support Iftar initiatives aimed at providing meals to families and individuals in need.
At the operational level, the company has implemented enhanced business continuity protocols across its offices in Dubai and Abu Dhabi to ensure employee safety and uninterrupted services for users. Measures include daily management briefings, employee safety monitoring, and logistical support for staff in sensitive areas.
Commitment to the UAE’s Digital Asset Vision
Bybit reiterated its long-term commitment to supporting the UAE’s ambition of becoming a global hub for digital assets and financial innovation. “Our users across the UAE, Saudi Arabia, Qatar and the wider Gulf can remain confident that our platform remains fully operational,” Dai said. “Bybit is open, liquid, and staffed around the clock.”
The company added that it will continue investing in regulatory compliance, local talent, and partnerships as part of its long-term strategy in the region.
