Crypto Exchange Bybit Moves Headquarters to Dubai From Singapore

Cryptocurrency exchange Bybit announced plans to move its headquarters to Dubai from Singapore, as the emirate steps up efforts to attract companies in the fast-growing industry.

Bybit will start operations in Dubai as early as next month, after receiving in-principle approval to conduct a “full spectrum” of virtual-assets business in the United Arab Emirates, it said in a blog post Monday. Crypto.com, also based in Singapore, separately said it will set up a regional base in Dubai, and plans to establish a “significant” presence there.

The exchanges join global rivals like Binance Holdings Ltd. and FTX in expanding in the ...