In a move to replicate the success of Dubai and the UAE in attracting crypto businesses, UK economic development officials have invited Bybit's leadership to London. Bybit's CEO, Ben Zhou, revealed that the UK is eager to attract major companies and create jobs, with discussions focused on upcoming pro-crypto regulations. Having founded Bybit in 2018 and relocated its headquarters to Dubai in 2022, Zhou noted that the arrival of crypto giants like Bybit and Binance has drawn smaller companies to the region, a phenomenon the UK aims to replicate.
During his meetings with the Financial Conduct Authority and the House of Lords, Zhou emphasized the UK's desire to push for innovation, particularly in the crypto sector. The invitation comes at a time when the UAE is facing challenges, including direct attacks from Iran, prompting an outflow of residents, tourists, and companies, which the UK seeks to capitalize on by attracting businesses back to its shores.