In an effort to replicate the success of Dubai and the UAE in the crypto space, UK economic development officials have invited Bybit's leadership to London for a series of meetings. CEO Ben Zhou revealed that the UK is eager to attract major companies and create jobs, with a focus on forthcoming pro-crypto regulations. Bybit, founded by Zhou in 2018 and currently headquartered in Dubai, is the second-largest crypto exchange globally.
The UK aims to mirror the UAE's ability to draw in smaller crypto companies, following the lead of giants like Bybit and Binance. Zhou's UK visit includes meetings with the Financial Conduct Authority and the House of Lords, coinciding with UK Fintech Week and the Treasury's plans to integrate stablecoins and tokenization into payment systems. The invitation is seen as part of a broader effort to drive innovation, particularly in the crypto sector, with Zhou noting that the UK seeks to 'win back' the outflow of money and companies to the UAE.