Bybit Obtains Full License in Kazakhstan, According to Chainwire

Dubai, United Arab Emirates, September 27th, 2024
Bybit, the second-largest cryptocurrency exchange globally by trading volume, has announced it has received a complete license from the Astana Financial Service Authority (AFSA). This achievement allows Bybit to function as a fully authorized market institution in Kazakhstan, furthering the company’s international growth.

With this full authorization from AFSA, Bybit Kazakhstan will provide an extensive array of services, including the operation of a digital asset trading platform, custody services, investment dealings as both an agent and principal, and investment management. This new licensing paves the way for numerous benefits for users in Kazakhstan and the wider Commonwealth of Independent States (CIS) region.

"Kazakhstan has emerged as a significant player in the global crypto ecosystem, and we are excited to expand our services in such an energetic market," stated Ben Zhou, co-founder and CEO of Bybit. "With this full license, we are dedicated to delivering our advanced technology, security, and transparency to crypto traders in Kazakhstan, ensuring they have access to top-tier tools and services to thrive in this rapidly evolving industry."

With the new license, Bybit Kazakhstan plans to offer a variety of products, including spot and derivatives trading, margin trading, and crypto loans. The local website is slated to launch in mid-October 2024. This expansion aligns with Bybit’s mission to deliver trustworthy and transparent services tailored to the specific needs of crypto traders and investors in the region.

Bybit’s developments in Kazakhstan underscore the company’s commitment to promoting innovation and growth within the global cryptocurrency landscape. Armed with a fully regulated platform, Bybit aims to provide enhanced services that adhere to the highest compliance and security standards. The company looks forward to cultivating strong connections with traders in Kazakhstan and the CIS region, empowering them to confidently navigate the dynamic digital asset market.

About Bybit
Bybit is recognized as the second-largest cryptocurrency exchange by trading volume, with over 50 million users. Founded in 2018, Bybit offers a professional platform featuring an ultra-fast matching engine, 24/7 customer support, and multilingual community assistance. The company is also a proud partner of the reigning Constructors’ and Drivers’ champions in Formula One.

For media inquiries, please contact:
Tony Au
Head of PR, Bybit
[email protected]

This article was originally published by Chainwire.