Cyprus Embraces Bybit: The Rise of a Crypto Hotspot

By Lola Coin Jun 26, 202366Views

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Cryptocurrency trading platform Bybit has secured a license to operate as an exchange and custody service in Cyprus. This move comes as the company aims to fortify its global presence and expand into the European market. Bybit’s strategic decision to enter Cyprus is well-timed, as the country is emerging as a crypto hotspot and has shown a more inclusive regulatory environment, embracing blockchain technologies. The license acquisition also allows Bybit to fill the void left by Binance, another major player in the industry, which recently announced its deregistration in Cyprus. Bybit recognizes Cyprus as having “immense potential” and sees the opportunity to make significant inroads into this market. The license also positions Bybit to strengthen its presence in the European Union, ahead of the implementation of new regulations under the Markets in Crypto Assets regulation.

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