Crypto.com, Bybit to set up shop in Dubai

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Crypto.com and Bybit announced plans to set up offices in Dubai at the World Government Summit on March 28th

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The two companies collectively boast roughly 15 million users and billions in trading volume processed

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Crypto.com and Bybit have been marketing aggressively in recent months and are now following it up with expansion across the globe.

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Dubai is trying to position itself as a global hub for the emerging crypto industry and recently launched a new virtual assets regulatory authority

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It is also engaged in formulating a comprehensive legal and regulatory framework for virtual assets

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Crypto.com will open a new regional headquarters in the Emirate, and employ roughly 100 to 200 staff, including engineers

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It is currently in the process of looking for office space. Crypto.com’s COO Eric Anziani said

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Bybit said it has received approval to offer a full suite of virtual asset services.

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A number of the country’s banks and companies are heavily involved in blockchain technology, including government-backed entities and projects.

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