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Bybit obtains crypto exchange & custody services license in Cyprus.

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Bybit has announced that it has successfully obtained a license to operate a crypto exchange and provide custody services in Cyprus. This significant achievement marks a major milestone for Bybit, showcasing their dedication to operating within regulatory frameworks and ensuring the utmost security and compliance for their users. With this new license in place, Bybit can now offer its customers in Cyprus a trusted and reliable platform for crypto trading, backed by robust custody services. 

The newly obtained license from regulatory authorities in Cyprus will enable Bybit to provide an extensive range of services. These services encompass trading opportunities between various cryptocurrency pairs and fiat currency pairs, as well as financial services associated with crypto assets.

Additionally, Bybit offers specialized custody solutions designed for clients in Cyprus and other European Union member states. With this regulatory license, Bybit solidifies its position as a reputable and compliant platform operating within the cryptocurrency market of Cyprus. This achievement further establishes trust among users and reinforces Bybit’s commitment to maintaining a regulated environment for its customers.

As one of the emerging markets for cryptocurrencies Cyprus is attracting a thriving community of crypto enthusiasts due to its favorable regulatory environment. According to Bybit, it recognizes the considerable potential of the Cyprus market and eagerly anticipates extending its unparalleled reliability and abundant opportunities to the local digital asset community. 

Ben Zhou, co-founder and CEO of Bybit, expressed full support for the regulatory objective of establishing a compliant, secure, and transparent cryptocurrency industry. He stated, “At Bybit, we wholeheartedly support the regulatory objective of building a cryptocurrency industry that is both compliant, secure, and transparent, ultimately benefiting all those seeking financial freedom.”

Zhou emphasized Bybit’s commitment to adhering to robust regulatory frameworks while expanding their global presence. He further added, “This landmark is a testament to Bybit’s commitment to adhering to robust regulatory frameworks while expanding our global presence. We look forward to bringing the Crypto Ark to Cyprus.”

Bybit has recently introduced ToolGPT, their maiden AI tool, to the trading platform. This innovation aims to simplify user activities, making them more effortless. Bybit claims that ToolGPT offers a range of valuable features, including long-term price trend prediction, short-term price movement prediction, forecasts for the future ETH trend, a user-friendly interface, and free, easy access to other tools.

As a trusted platform with a strong focus on digital asset security. Bybit has achieved ISO 27001:2013 certification for its security management system. Real-time, on-chain proof-of-reserves data is implemented through a purpose-built Merkle tree for added integrity and safety of user’s digital assets.

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