Crypto exchange Bybit has reaffirmed its commitment to expanding operations in the Middle East and North Africa (MENA) despite rising geopolitical tensions in the region. The company recently announced the appointment of a new country manager as part of its broader plan to strengthen regional engagement and market development.
The decision comes at a time when tensions escalated following military strikes on Iran by the United States and Israel, which were followed by retaliatory actions targeting several neighboring countries, including the United Arab Emirates (UAE). Despite the situation, Bybit confirmed it has no plans to reduce its presence in the Gulf region.
New Country Manager Appointed for Regional Growth
As part of its expansion strategy, Bybit appointed Derek Dai as country manager for the MENA region. His responsibilities include overseeing market growth, strengthening regulatory relationships, building institutional partnerships and supporting localized product development.
The company also stated that measures have been introduced to support employees in the UAE, including daily safety checks and travel assistance if required.
UAE Continues to Grow as a Crypto Hub
The UAE remains a major center for the digital asset industry. Around 1,800 cryptocurrency companies currently operate in the country, employing more than 8,600 professionals. In addition, Abu Dhabi’s ADGM financial free zone recorded a 67% increase in newly issued licenses at the beginning of 2025 compared with the previous year.
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