Cryptocurrency exchange Bybit has reaffirmed and deepened its commitment to the Middle East and North Africa (MENA) region, specifically the United Arab Emirates (UAE), despite escalating geopolitical tensions. The company announced the appointment of Derek Dai as its new Country Manager for MENA, a strategic move signaling long-term investment rather than retreat.
The decision comes against a backdrop of heightened conflict in the region, including recent strikes involving the US, Israel, and Iran, with retaliatory actions affecting neighboring countries like the UAE. Helen Liu, co-CEO of Bybit, emphasized the company's counter-cyclical strategy, stating, "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." She framed the UAE as Bybit's "home," adding, "You do not abandon your home when the storm comes — you stand in the doorway."
Derek Dai's mandate is expansive, focusing on market expansion, regulatory collaboration with bodies like the Securities and Commodities Authority (SCA), institutional partnerships, and localized product development. Key priorities include expanding access to the UAE dirham (AED), forging partnerships with banks and payment providers, and developing Shariah-compliant products for Islamic finance. Dai highlighted collaboration with major financial centers like the Dubai International Financial Centre (DIFC) and the Dubai Multi Commodities Centre (DMCC) to strengthen infrastructure connecting digital assets with everyday services and advance tokenized real-world assets (RWAs).
Bybit has implemented specific measures to ensure operational continuity and employee safety. The exchange activated Business Continuity Protocols (BCP) for its Dubai and Abu Dhabi offices, introducing daily management check-ins, real-time safety confirmations, and relocation or travel support for staff. The company asserts its services remain "open, liquid, and staffed around the clock" for users across the Gulf.
The news underscores the UAE's growing role as a digital asset hub, with roughly 1,800 crypto companies operating there, employing over 8,600 people. Abu Dhabi's ADGM financial free zone reported a 67% increase in new licenses issued at the start of 2025 compared to 2024. Bybit's commitment is also demonstrated through community initiatives like its partnership with the Emirates Red Crescent during Ramadan.
