Bybit Expands with Cyprus License, Unlocking New Crypto Opportunities

By Lola Coin Jun 26, 202354Views

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Crypto exchange Bybit has obtained a license in Cyprus, allowing it to offer a range of services including trading between crypto and fiat pairs, financial services related to crypto assets, and custody solutions. Bybit’s CEO, Ben Zhou, stated that the company supports the goal of building a compliant and secure crypto industry. Cyprus is seen as a growing hub for cryptocurrency activities, with a favorable regulatory environment. Bybit recently announced its exit from the Canadian market due to challenging regulations. Despite facing difficulties last year, including staff layoffs, Bybit has been expanding its services and received approval to operate in Kazakhstan. The exchange also partnered with Mastercard to offer a cryptocurrency debit card. Bybit experienced an increase in spot trading volume following the FTX crash in November 2022 while other exchanges saw a decline.

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