Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has been granted a full licence by Kazakhstan’s Astana Financial Service Authority (AFSA). The licence enables Bybit to operate as a fully authorised market institution in Kazakhstan, marking another step in the company’s global expansion.
Under full authorisation from AFSA, Bybit Kazakhstan plans to offer a comprehensive range of services, including operating a digital asset trading facility, providing custody, dealing in investments as both an agent and principal, and managing investments.
Now that it has secured the licence, Bybit Kazakhstan now plans to offer various products, including spot and derivatives trading, margin trading, and crypto loans.
The Bybit Kazakhstan website, under the domain ‘bybit.kz’ is scheduled to launch in mid-October 2024. The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.
Ben Zhou, co-founder and CEO of Bybit
“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 licence, 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’s new licensing opens many opportunities for users in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.
Now that it is a fully regulated platform, Bybit Kazakhstan explained that it plans to introduce enhanced services that meet the highest standards of compliance and security. It also said that the move solidifies its commitment to fostering innovation and growth within the global cryptocurrency landscape.
Bybit looks forward to building strong relationships with traders across the CIS region, empowering them to navigate the dynamic world of digital assets with confidence.
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