Crypto Exchange Major Bitget To Make Dubai As Hub For Its Next Phase Of Global Expansion

The Victoria, Seychelles-headquartered company is gearing up to offer its full range of crypto trading solutions, including spot trading, futures trading and copy trading to meet the needs of both retail and institutional investors in the Gulf market and the region in line with its global expansion plans.

The company, which is also a leading web3 player globally, however, will move cautiously on setting up operations in other countries in the Middle East because of varying degrees of regulatory restrictions in other countries in the region.

“Bitget’s decision to choose the Middle East as a preferred market is driven by the region’s growing interest in cryptocurrency adoption and its favourable regulatory environment,” Vugar Usi Zade, COO of Bitget told Arabian Business.

“The region’s strategic geographic location serves as a bridge between major global markets, enhancing its appeal as a hub for crypto innovation and investment,” he said.

Usi Zade said the fact that the UAE is known globally as a financial hub with crypto-friendly laws has been a key consideration for the company’s decision to make Dubai a major hub for its next phase of global expansion.

He also revealed that the company has moved an application for Dubai’s VARA license for its operational expansion as it works toward the objective of becoming one of the most regulated and reputable exchanges.

“While we do not have a specific date, we intend to obtain a license in the region in the near future,” the Bitget second-in-command said.

He said the company aims to grow a solid operation in the region offering its full range of crypto trading solutions.

MENA’s crypto growth potential

Sector experts said with the rising demand for digital financial solutions and the increasing integration of blockchain technology across various sectors, the MENA region presents a substantial opportunity for platforms like Bitget to expand their presence and cater to a rapidly growing user base.

The region has also shown significant potential for crypto growth with increasing institutional and retail participation in digital assets, adding to the lure for global majors to seriously look at making it their major focus markets, they said.

Industry players said the proactive steps being taken by the region’s governments to establish clear regulatory frameworks also foster a more secure and transparent ecosystem for crypto businesses to operate.

MENA region’s market potential is further highlighted by its young, tech-savvy population and high internet penetration rates, which create a strong foundation for crypto adoption, they said.

Usi Zade said Bitget’s expansion plans to UAE and the Middle East are focused on the population’s keen interest in crypto assets and understanding the complicated regulatory landscape.

“MENA has always been a key market for crypto adoption, driven by a young, tech-savvy population and increasing institutional interest in digital assets,” he said.

Dubai’s crypto-friendly policies

Bitget COO said Dubai’s clear and supportive regulatory framework for cryptocurrencies provides a conducive environment for the company to operate and innovate.

Besides, the MENA region’s strategic geographic location, coupled with its high internet connectivity and increasing demand for digital asset solutions, positions it as an important market for Bitget’s growth.

“By aligning our expansion strategy with the region’s regulatory developments and market dynamics, Bitget aims to play a key role in growing crypto adoption in the Middle East,” Usi Zade said.

He, however, said with varying degrees of regulatory restrictions across other MENA regions, the company is closely monitoring the landscape to ensure compliance and adaptability before executing further expansion plans.

“This cautious approach allows us to navigate the complexities of regional regulations, while capitalising on the immense adoption potential the Middle East offers,” Usi Zade said.

He, however, said Bitget will continue to extend its global footprint by obtaining as well as retaining relevant regulatory licenses to suit its customers’ expectations for safe and trustworthy products and services.

Commenting on the crypto industry’s growth potentials in the wake of the Donald Trump presidency in the US, the Bitget COO said the crypto industry is set for a highly anticipated evolution in the post-Trump era, with shifts in regulatory frameworks and market dynamics already in the works.

He said the Trump administration has shown cautious optimism toward crypto, highlighting a need for clearer regulations and collaboration with industry leaders.

There are also recent indications of potential staff reassignments within the SEC’s crypto enforcement division, he added.

“These moves could foster greater institutional adoption and mainstream acceptance of digital assets,” Usi Zade said, adding that transparent and clear regulatory standards help to lay a solid basis for investment and creativity.

Bitget COO also said although obstacles still exist, a more consistent and supportive legislative climate could accelerate the industry’s integration into the broader financial system.