Bybit Names Derek Dai MENA Chief Amid UAE Expansion Push

Updated on: March 9, 2026

Bybit has appointed Derek Dai as its new Middle East and North Africa country manager as the crypto exchange expands its presence in the United Arab Emirates despite rising geopolitical tensions in the region.

Key Takeaways

Bybit has appointed Derek Dai as Country Manager for the MENA region to lead expansion, partnerships, and regulatory collaboration.
The company reaffirmed its long term commitment to the UAE as a digital asset hub, even amid regional geopolitical tensions.
Bybit plans to expand UAE dirham access and strengthen partnerships with banks and financial institutions.
The UAE crypto sector continues to grow rapidly, with around 1,800 crypto companies operating in the country.

What Happened?

Crypto exchange Bybit announced the appointment of Derek Dai as Country Manager for the Middle East and North Africa region, signaling a deeper commitment to the United Arab Emirates as a strategic base for digital asset growth.

The move comes at a time of rising geopolitical tensions in the Middle East, yet the exchange said it plans to increase investment, expand partnerships, and strengthen regulatory collaboration across the region.

Bybit Expands Leadership in the Middle East

Bybit said Derek Dai will oversee the company’s regional strategy across MENA, including market expansion, regulatory engagement, institutional partnerships, and the development of localized crypto products.

The company described the Middle East as one of the fastest growing regions for digital finance innovation, with the United Arab Emirates playing a central role in building a regulated digital asset ecosystem.

Derek Dai, Country Manager for MENA at Bybit said:

“

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.

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.

Over the coming months, the company plans to focus on expanding access to the UAE dirham for crypto services, while also developing partnerships with banks and payment providers to improve fiat on and off ramp services.

Dai also noted that Bybit intends to enhance Islamic finance offerings by developing more Shariah compliant products, supporting broader adoption of digital assets across the Gulf region.

Commitment to the UAE Despite Regional Tensions

The leadership appointment comes as geopolitical tensions in the Middle East have intensified following recent military strikes involving the United States, Israel, and Iran. Iran later responded with actions affecting several neighboring countries, including the United Arab Emirates where Bybit maintains a strong operational presence.

Despite the uncertainty, Bybit leadership made it clear that the company is not reducing its presence in the region.

Helen Liu, co-CEO of Bybit said:

“

The UAE gave Bybit a home. You do not abandon your home when the storm comes you stand in the doorway. 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 said it has also activated Business Continuity Protocols across its Dubai and Abu Dhabi operations to ensure stable services for global users while protecting employees in the region.

The exchange introduced daily management check ins, real time employee safety confirmations, and relocation or travel assistance for staff located in sensitive areas.

Derek added:

“

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. Your funds are safe. Your access is uninterrupted. We are not going offline, and we are not leaving.

UAE Emerges as a Global Crypto Hub

Bybit’s continued investment highlights the rapid expansion of the UAE’s digital asset industry.

The country currently hosts around 1,800 crypto companies employing more than 8,600 people, making it one of the fastest growing digital asset ecosystems in the world.

Regulatory progress has also accelerated growth. Abu Dhabi Global Market saw a 67 percent increase in new licenses issued in early 2025 compared with 2024, reflecting rising demand from crypto and fintech firms seeking regulated operations in the region.

Bybit said it recently secured a license from the Securities and Commodities Authority, allowing the company to further strengthen its regulated footprint in the country.

Beyond business expansion, the exchange has also worked to build deeper community ties in the UAE. During Ramadan, Bybit partnered with the Emirates Red Crescent to support the Iftar Tent initiative, providing meals and organizing employee volunteer programs for families and individuals in need.

CoinLaw’s Takeaway

From my perspective, Bybit’s decision to deepen its presence in the UAE during a period of geopolitical tension shows how strategic the Middle East has become for the crypto industry. In my experience covering crypto markets, companies rarely increase regional investment during uncertainty unless they see strong long term potential.

I found it particularly notable that Bybit is focusing not only on trading services but also on real world asset tokenization, Islamic finance products, and local banking partnerships. These initiatives suggest the company is trying to embed itself deeply within the region’s financial infrastructure rather than simply operating as an offshore exchange.

If the UAE continues its push to become a global crypto hub, moves like this could place Bybit in a strong early position within one of the most influential digital asset markets in the world.