The firm said it is among the top players in the crypto space.

Bybit, the crypto exchange boasting 15 million users, held the “grand opening” of its global headquarters in Dubai this week.

The firm occupies a floor at One Central, Dubai World Trade Center. Bybit’s corporate headquarters has an open space of 16,000 square feet.

Saying that it holds the Number Two spot among the over 400 crypto and blockchain businesses in the MENA region in the past year, Bybit said it is on track to double its trading volume in the region. 

“We are excited to be part of Dubai’s futuristic skyline and, most importantly, to be able to officially call Dubai home,” Ben Zhou, CEO and co-founder of Bybit, said. “The digital economy is advancing at incredible speed and crypto and blockchain technology will be the mainstay and the connective tissues. As one of the most progressive digital assets hubs in MENA and the world, Dubai is optimally positioned to capture the opportunities in the sector by bringing together state-of-the-art tech and infrastructure, international talent and vision.”

Other crypto exchanges operating include Kraken, Coinbase, Gemini and Cash App. The sector continues to evolve and adjust following the collapse last year of US-based FTX. (See this article about the digital assets sector in Switzerland.)