Bybit Secures License to Operate Cryptocurrency Exchange and Custody Services in Cyprus
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.
Bybit, the world’s third most popular cryptocurrency exchange, is delighted to announce its successful acquisition of a license to operate a crypto exchange and offer custody services in Cyprus.
This achievement highlights Bybit’s dedication to operating within regulatory frameworks and ensuring secure and compliant trading solutions for its users.
The recently obtained license from Cyprus regulatory authorities enables Bybit to provide a comprehensive range of services, including trading between cryptocurrencies and fiat currencies, financial services pertaining to crypto assets, and tailored custody solutions for clients in Cyprus and other EU member states. By securing this license, Bybit establishes itself as a trustworthy and regulated platform in the cryptocurrency market of Cyprus.
Cyprus is widely recognized as a flourishing hub for cryptocurrency activities, boasting a growing community of crypto enthusiasts and a favorable regulatory landscape. Bybit acknowledges the immense potential of the Cyprus market and eagerly looks forward to introducing its exceptional reliability and opportunities to the local digital asset community.
Ben Zhou, the co-founder and CEO of Bybit, expressed their wholehearted support for the regulatory objective of developing a cryptocurrency industry that is compliant, secure, and transparent, ultimately benefiting individuals seeking financial freedom. Zhou emphasized that this milestone serves as a testament to Bybit’s commitment to adhering to robust regulatory frameworks while expanding its global presence. Bybit eagerly anticipates bringing the Crypto Ark to Cyprus.
Bybit has built a strong reputation for digital asset security, compliance, and protection. Their accomplishments include implementing rigorous KYC and AML procedures, obtaining the ISO 27001:2013 certification for their robust security management system, and utilizing real-time, on-chain proof-of-reserves data with a purpose-built Merkle tree.