In a bid to replicate the success of Dubai and the UAE in attracting major crypto players, UK economic development officials have invited Bybit's leadership to London. CEO Ben Zhou revealed that the UK is eager to attract large businesses, create jobs, and discuss forthcoming pro-crypto legislation.
Bybit, founded in 2018 and currently headquartered in Dubai, is the second-largest crypto exchange globally. The UK aims to replicate the UAE's momentum in attracting smaller crypto companies following the arrival of major players like Bybit and Binance. Zhou's meetings with the Financial Conduct Authority and House of Lords coincided with UK Fintech Week and the Treasury's plans to revamp payment systems using stablecoins and tokenization.
The invitation is seen as part of the UK's efforts to win back companies and investment that have flowed to the UAE, particularly in light of recent events in the region.