U.K. economic development officials connected with the government have extended an invitation to Bybit’s leadership for a visit to London this week, aiming to capture some of the innovative momentum seen in Dubai and the wider UAE. Bybit CEO Ben Zhou described the U.K.’s eagerness as they seek to attract major businesses to establish bases and create jobs while discussing forthcoming pro-crypto regulations.
Bybit was founded by Zhou in 2018 and relocated its headquarters from Singapore to Dubai four years later, establishing itself as the second-largest crypto exchange according to CoinGecko, following Binance which moved to the UAE in 2025. The arrival of these large exchanges has drawn smaller crypto firms to the region—a trend that the U.K. aims to replicate, Zhou noted.
“The U.K. hasn’t yet built similar momentum,” Zhou remarked during an interview at Paris Blockchain Week. “In contrast, the UAE’s big exchanges like Bybit and Binance attract smaller players once they announce their presence.”
Zhou’s visit includes discussions with the Financial Conduct Authority and House of Lords representatives, aligning with U.K. Fintech Week and a Treasury initiative to modernize payment systems using stablecoins and tokenization.
“I’m meeting with the FCA and House of Lords to explore crypto opportunities,” Zhou explained. “We were invited by an economic development board promising direct access to the prime minister, indicating a strong push for innovation in crypto.”
Neither the Treasury nor Lucy Rigby, Economic Secretary to the Treasury, responded to comment requests. Similarly, the Department for Science, Innovation and Technology did not reply. The FCA had yet to respond by press time.
The timing of this invitation is noteworthy as the UAE faces challenges due to attacks from Iran amid ongoing conflict involving the U.S. and Israel that began on Feb. 28. This has led many residents and tourists, including one in eight British expatriates, to leave, according to a Financial Times report earlier this month.
Zhou noted the outflow of funds and businesses to the UAE as an opportunity for the U.K., stating, “Precisely now is good timing for the U.K. government to try to win back that momentum.”