Crypto exchange Bybit appoints Derek Dai as MENA country manager, reinforcing UAE expansion plans amid regional geopolitical tensions.
Global cryptocurrency exchange Bybit is strengthening its presence in the Middle East, appointing Derek Dai as Country Manager for the Middle East and North Africa (MENA) as part of a broader strategy to expand its footprint across the region.
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The appointment signals the company’s intention to position the United Arab Emirates as a long-term base for its regional operations. Dai will oversee Bybit’s growth strategy across MENA, including market expansion, regulatory engagement, institutional partnerships, and the development of locally tailored digital asset products.
The move follows Bybit’s recent regulatory milestone after securing a licence from the UAE Securities and Commodities Authority, giving the exchange a regulated operating framework within the country’s rapidly evolving digital asset ecosystem.
According to Bybit leadership, the UAE has become a key strategic hub for the company. Helen Liu noted that the Emirates has provided a strong base for the exchange’s growth in the region, reinforcing its commitment to maintain and expand its operations despite broader geopolitical uncertainty in parts of the Middle East.
Dai described the Middle East as one of the regions shaping the future of digital finance, with the UAE leading through a progressive regulatory framework and a growing fintech ecosystem. His priorities include strengthening engagement with financial centres such as Dubai International Financial Centre and Dubai Multi Commodities Centre, while building infrastructure that connects digital assets with mainstream financial services.
As part of its regional strategy, Bybit plans to expand AED fiat access, deepen partnerships with banks and payment providers, and introduce more Shariah-compliant crypto products aimed at the Gulf’s large Islamic finance market. The company also identified Bahrain as a potential next step in its regional expansion plans.
The announcement comes at a time of heightened geopolitical tensions in the region. Rather than reducing its presence, Bybit says it has implemented business continuity measures across its Dubai and Abu Dhabi operations to ensure stability and uninterrupted service.
These measures include daily operational check-ins, employee safety protocols, and relocation or travel support where necessary. The company stated that trading services remain fully operational for users across the UAE, Saudi Arabia, Qatar, and the wider Gulf region.
Beyond its commercial activities, Bybit has also partnered with the Emirates Red Crescent during Ramadan to support the organisation’s Iftar Tent initiative and employee volunteer programmes.
Bybit says its long-term strategy in the region will focus on expanding regulated digital asset services while strengthening partnerships across financial institutions, regulators, and fintech ecosystems in the Gulf.
Why Bybit Matters to MENA
Bybit’s move reflects the growing role of the UAE as a global hub for digital assets and crypto regulation. With clearer regulatory frameworks emerging in the Gulf, international exchanges are increasingly choosing the region as a base for expansion.
For the broader MENA ecosystem, deeper engagement from major exchanges could accelerate the development of regulated crypto infrastructure, institutional adoption, and Islamic finance-compatible digital asset products. As competition among global exchanges intensifies, the UAE’s regulatory clarity and financial infrastructure continue to attract companies looking to scale across the Middle East.
