In an effort to mirror the innovative momentum of Dubai and the United Arab Emirates, UK economic development officials have extended an invitation to Bybit's leadership to establish a presence in London. According to CEO Ben Zhou, the UK government is eager to attract major businesses, create jobs, and implement pro-crypto legislation.
Bybit, founded by Zhou in 2018 and currently headquartered in Dubai, is the second-largest crypto exchange globally. The UK aims to replicate the success of the UAE, where the presence of crypto giants like Bybit and Binance has drawn smaller crypto companies to the region.
Zhou's meetings with the Financial Conduct Authority and the House of Lords coincided with UK Fintech Week and the Treasury's plan to integrate stablecoins and tokenization into payment systems. The invitation is seen as a strategic move by the UK to win back companies and investments that have flowed into the UAE, particularly in light of recent geopolitical tensions in the region.