Bybit Appoints Derek Dai as MENA Country Manager, Strengthens Commitment to UAE
Bybit, the world’s second-largest cryptocurrency exchange by trading volume, 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.
Based in Dubai, Dai will oversee Bybit’s regional strategy across the MENA region, focusing on market expansion, regulatory collaboration, institutional partnerships, and localized product development. The appointment follows the company’s recent licensing from the UAE Securities and Commodities Authority, strengthening its regulated presence in the region.
Strengthening regional digital finance ecosystem
Helen Liu, Co-CEO of Bybit, said the company remains firmly committed to expanding its presence in the Gulf despite geopolitical uncertainties.
“The UAE gave Bybit a home. You do not abandon your home when the storm comes — you stand in the doorway,” Liu said. “Some companies are reassessing their Gulf exposure right now. We are doing the opposite. We are deepening our presence, our investment, and our commitment to this region.”
According to Dai, the Middle East is emerging as a key region shaping the future of digital finance, with the UAE playing a leading role in establishing a progressive regulatory environment.
“Our priority is to deepen collaboration with financial centres such as Dubai International Financial Centre and Dubai Multi Commodities Centre while strengthening infrastructure that connects digital assets with everyday financial services,” Dai said.
He added that Bybit aims to accelerate the development of tokenised real-world assets, bridging traditional finance with the digital asset economy.
Expansion plans across the Gulf
In the coming months, the exchange plans to expand access to AED fiat services, build partnerships with banks and payment providers, and enhance its Islamic finance offerings through more Shariah-compliant digital asset products.
Dai noted that Bybit is also preparing for further regional expansion across the Gulf Cooperation Council, with Bahrain identified as one of the next key milestones for the company’s growth strategy.
Community engagement and operational resilience
Bybit views the UAE not only as a major market but also as a bridge between traditional financial systems and the emerging digital asset economy.
As part of its community engagement initiatives during Ramadan, the company partnered with the Emirates Red Crescent to support an Iftar Tent initiative that provides meals to families and individuals in need while encouraging employee volunteerism.
Amid regional geopolitical tensions, Bybit has also activated comprehensive Business Continuity Protocols across its operations in Dubai and Abu Dhabi to ensure employee safety and maintain uninterrupted services for its global users.
The measures include daily management check-ins, real-time employee safety confirmations, and relocation or travel assistance for staff in sensitive areas.
Long-term vision for the UAE
Liu reiterated the company’s long-term commitment to the UAE and its ambition to contribute to the country’s goal of becoming a global digital asset hub.
“Bybit’s commitment to the UAE was made for the long term — through growth and through adversity,” she said. “We continue to invest in local talent, regulatory compliance, and community partnerships.”
Dai also reassured users across the Gulf region that the platform remains fully operational.
“Our users in the UAE, Saudi Arabia, Qatar, and across the Gulf need to know one thing: Bybit is open, Bybit is liquid, and Bybit is staffed around the clock,” he said.
