Dubai Expands Crypto Regulation

Dubai, United Arab Emirates, September 27th, 2024, Chainwire

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has been granted a full license by the Astana Financial Service Authority (AFSA). This milestone allows Bybit to operate as a fully authorized market institution in Kazakhstan, furthering the company’s global expansion.

With full authorization from AFSA, Bybit Kazakhstan will offer a variety of services, including:
– Operating a digital asset trading facility
– Providing custody services
– Dealing in investments as both an agent and a principal
– Managing investments

This new licensing brings numerous opportunities for users in Kazakhstan and the broader CIS region.

> "Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market," said Ben Zhou, co-founder and CEO of Bybit. "With this full license, we are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry."

Bybit Kazakhstan will provide various products, including spot and derivatives trading, margin trading, and crypto loans. The website, under the domain “bybit.kz,” is set to launch in mid-October 2024. This expansion aligns with Bybit’s mission to offer reliable and transparent services tailored to the unique needs of crypto traders and investors in the region.

This new chapter for Bybit in Kazakhstan reinforces the company's commitment to fostering innovation and growth within the global cryptocurrency landscape. With a regulated platform, Bybit aims to deliver enhanced services meeting high compliance and security standards. Bybit is eager to build lasting relationships with traders in Kazakhstan and across the CIS region, empowering them to navigate the dynamic world of digital assets confidently.

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform with:
– An ultra-fast matching engine
– 24/7 customer service
– Multilingual community support
Bybit also partners with Formula One’s reigning Constructors’ and Drivers’ champions, the Oracle (NYSE:ORCL) Red Bull Racing team.

For further details, visit Bybit Press.

Media Inquiries

Email: media@bybit.com
Contact: Tony Au
Position: Head of PR
Company: Bybit
Email: tony.au@bybit.com

This article was originally published on Chainwire.