Cryptocurrency exchange Bybit is strengthening its commitment to the Middle East and North Africa (MENA) region despite recent geopolitical tensions. The company appointed a new country manager and stated it has no plans to reduce its operations in the area. Co-CEO Helen Liu emphasized that Bybit is increasing its investment, contrasting with other companies reassessing their presence. The exchange highlighted the use of crypto during crises, citing a surge in withdrawals from Iran’s Nobitex exchange following strikes.
Cryptocurrency exchange Bybit has reaffirmed its Middle East operations amid escalating global conflict. The firm announced the appointment of a new country manager to increase its presence across the MENA region.
Tensions escalated after the US and Israel launched strikes on Iran last month. Iran retaliated against several neighboring countries, including the United Arab Emirates where Bybit maintains a major regional presence.
Co-CEO Helen Liu stated the company has no plans to scale back its Middle East operations. “Some companies are reassessing their Gulf exposure right now. We are doing the opposite,” she said.
Liu further noted, “We are deepening our presence, our investment, and our commitment to this region.” She also reinforced support for the UAE’s digital asset hub vision despite the crisis.
Cryptocurrencies are often used in times of crisis as citizens look to preserve their assets. Iran’s leading crypto exchange Nobitex experienced a sharp rise in withdrawals soon after strikes on Tehran.
Bybit appointed Derek Dai as its new MENA country manager. His role will include overseeing market expansion, regulatory collaboration, and localized product development.
The exchange has implemented measures to protect its UAE-based employees. These include daily check-ins and real-time safety confirmations.
Dai said the Middle East is becoming a pivotal region for the future of crypto. The firm will focus on expanding access to the UAE dirham and forging bank partnerships.
“Our priority is to deepen collaboration with financial centers such as the DIFC [Dubai International Financial Centre], and the DMCC [Dubai Multi Commodities Centre],” Dai stated. He added they want to strengthen infrastructure connecting digital assets with everyday services.
Roughly 1,800 crypto companies operate in the UAE, employing more than 8,600 people. Abu Dhabi also saw a 67% increase in new licenses issued in its financial free zone at the start of 2025.
