Media OutReach Newswire

Bybit Secures License to Operate Cryptocurrency Exchange and Custody Services in Cyprus

DUBAI, UNITED ARAB EMIRATES - Media OutReach - 26 June 2023 - Bybit, the world's third most visited crypto exchange, is pleased to announce that it has successfully obtained a license to operate a crypto exchange and provide custody services in Cyprus. This milestone demonstrates Bybit's commitment to working within regulatory frameworks and providing its users with secure and compliant trading solutions.

Bybit's newly acquired license from the regulatory authorities in Cyprus allows the company to offer a full suite of services, including trading between crypto pairs and fiat currency pairs, financial services related to crypto assets, and custody solutions tailored to clients in Cyprus and E.U. member states. With this license, Bybit establishes itself as a trusted and regulated platform within the Cyprus cryptocurrency market.

Cyprus is recognized as a burgeoning hub for cryptocurrency activities, with a growing community of crypto enthusiasts and a favorable regulatory environment. Bybit recognizes the immense potential of the Cyprus market and is excited to bring its next-level reliability and opportunities to the local digital asset community.

"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," said Ben Zhou, co-founder and CEO of Bybit. "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 a sterling reputation for digital asset security, compliance, and protection. Due in no small part to its enhanced KYC and AML procedures, successfully obtaining the ISO 27001:2013 certification for its robust security management system, and running real-time, on-chain, proof-of-reserves data with a purpose-built Merkle tree.

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About Bybit

Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports.

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