DUBAI, UAE, March 9, 2026 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, today announced the appointment of 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.
In this role, Derek will lead Bybit's regional strategy across MENA, overseeing market expansion, regulatory collaboration, institutional partnerships, and localized product development as the company continues to strengthen its regulated footprint following its recent Securities and Commodities Authority (SCA) license.
"The UAE gave Bybit a home. You do not abandon your home when the storm comes - you stand in the doorway," said Helen Liu, co-CEO of Bybit. "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."
Bybit's appointment of Derek comes at a pivotal moment for the region - a decision made not despite the current geopolitical uncertainty, but because of it.
A Strategic Moment for the Middle East
"The Middle East is emerging as one of the most important regions shaping the future of digital finance, with the UAE leading the way in building a progressive and well-regulated ecosystem," said Derek Dai, Country Manager for MENA at Bybit.
"Our priority is to deepen collaboration with financial centers such as DIFC and DMCC, while strengthening the infrastructure that connects digital assets with everyday financial services and advancing the development of tokenized real-world assets that bridge traditional finance and the digital asset economy."
"In the coming months, we will focus on expanding AED fiat access, building partnerships with banks and payment providers, and enhancing our Islamic finance offerings through the development of more Shariah-compliant products," Derek added. "By working closely with regulators, institutions, and builders, we aim to support the next phase of responsible digital asset adoption across the Middle East, while expanding our presence across the GCC, with Bahrain representing one of the next key milestones for Bybit in the region."
Building Long-Term Roots in the UAE
Bybit views the UAE not only as a market, but as a strategic bridge between traditional financial systems and the emerging digital asset economy.
As part of its commitment to the local community, the company partnered with the Emirates Red Crescent during Ramadan to support the Iftar Tent initiative, providing meals throughout the holy month and organizing employee volunteer activities to assist families and individuals in need.
Amid the recent geopolitical tensions in the Middle East, Bybit has also taken proactive steps to ensure the safety and well-being of its UAE-based employees while maintaining stable services for its global users. The company activated comprehensive Business Continuity Protocols (BCP) across its Dubai and Abu Dhabi operations, introducing daily management check-ins, real-time employee safety confirmations, and relocation or travel assistance for staff in sensitive areas.
"Bybit's commitment to the UAE was made for the long term - through growth and through adversity," said Helen. "We continue to invest in local talent, regulatory compliance, and community partnerships. The UAE's vision to become the world's leading digital asset hub is not diminished by this crisis. If anything, the resilience this nation is showing only reinforces why we chose to build here."
"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," Derek added. "Your funds are safe. Your access is uninterrupted. We are not going offline, and we are not leaving."
A Message to the UAE Community
"To our entire UAE family - our users, our partners, our colleagues, and every family across the Emirates - Bybit stands with you," said Helen Liu. "We wish safety, strength, and peace to everyone affected by this conflict. The UAE has shown the world what courage and resilience look like, and we are honored to stand alongside this community. We are here today, we will be here tomorrow, and we will be here long after this crisis passes."
Bybit / TheCryptoArk
About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 80 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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