Global law firm Norton Rose Fulbright's Hong Kong and Dubai offices have advised cryptocurrency exchange Bybit on entering the UAE market



DUBAI, UNITED ARAB EMIRATES - Media OutReach - 11 April 2022 - Bybit is the world's third most visited cryptocurrency exchange and one of a limited number of crypto-related businesses with operations in the UAE. It offers online spot and derivatives trading services, mining and staking products, and API support, to retail and institutional clients around the world.

Norton Rose Fulbright assisted Bybit in setting up new locations for its technology and software business, investment arm and headquarters in the UAE freezones DWTC and DIFC. The firm's FinTech practice advised the company on crypto-related issues and technology support, and infrastructure activities. The Dubai office, led by Jonathan Burton and Kayaan Unwalla, also led the negotiations with the relevant regulators for the establishment of business in the region.

Jonathan Burton, Corporate Counsel at Norton Rose Fulbright Dubai, said, "We are delighted to have been able to assist Bybit in establishing a presence in the UAE. This is an exciting new sector, in which there is a huge amount of opportunity, and we look forward to seeing its continued growth across the region in the coming months."

Ben Zhou, co-founder and CEO said, "We are excited to be serving global users from our new home in the UAE via the Bybit platform, a one-stop crypto destination. The UAE's forward-thinking vision to establish itself as a global digital hub is a great fit with Bybit's culture of innovation. Norton Rose Fulbright's advice has been instrumental in helping Bybit achieve this license, it is a pleasure working with them. They are highly client oriented, quick to come up with solutions and can be counted on to deliver under the most stressful situations."

Harold Tin, Corporate Partner at Norton Rose Fulbright Hong Kong, said, "We are honoured to be Bybit's trusted advisors in expanding its global footprint. Advising our FinTech clients on their expansion into the region marks an exciting milestone in our global service offering."

About Bybit
About Bybit
Bybit is a cryptocurrency exchange established in March 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, an NFT marketplace as well as API support, to retail and institutional clients around the world, and strives to be the most reliable exchange for the emerging digital asset class. Bybit is a proud partner of Formula One racing team, Oracle Red Bull Racing, esports teams NAVI, Astralis, Alliance, Virtus.pro and Oracle Red Bull Racing Esports, and association football (soccer) teams Borussia Dortmund and Avispa Fukuoka.

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About Norton Rose Fulbright

We provide the world's preeminent corporations and financial institutions with a full business law service. We have more than 3,700 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, the Middle East and Africa. Recognized for our industry focus, we are strong across all the key industry sectors: financial institutions; energy, infrastructure and resources; consumer markets; transport; technology; and life sciences and healthcare. Through our global risk advisory group, we leverage our industry experience with our knowledge of legal, regulatory, compliance and governance issues to provide our clients with practical solutions to the legal and regulatory risks facing their businesses. Wherever we are, we operate in accordance with our global business principles of quality, unity and integrity. We aim to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact. Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.
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Bybit

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Bitcoin|CryptoCurrencies|NFT

 
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11 Apr 2022

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