Bybit Extends Operations into Europe with New Trading Platform in the Netherlands
Summary:
Bybit, a leading cryptocurrency exchange, is launching its digital asset platform Bybit.nl in the Netherlands. The platform aims to offer cryptocurrency trading and education resources to Dutch users and is established in collaboration with local Bitcoin-focused company, Satos. The development follows regulatory issues faced by Bybit in Hong Kong.
Bybit, ranking amongst the world's top cryptocurrency exchanges in terms of trading volume, is broadening its footprint in Europe following regulatory challenges in Hong Kong. On the 28th of March, Bybit officially launched its digital asset platform, Bybit.nl, in the Netherlands. The newly established local trading platform is regulated in the country and aims to provide Dutch users with access to cryptocurrency trading and educative resources.
The operationalization of Bybit.nl has been made possible throughits alliance with Satos, a veteran Bitcoin (BTC)-focused company in the Netherlands. This collaboration allows Bybit's Dutch users to deposit and withdraw in fiat currency and trade over 300 pairs.
The establishment of Bybit in the Netherlands seeks to enhance the company's pledge towards serving users while maintaining regulatory compliance, according to Ben Zhou, the co-founder and the CEO of Bybit. In his words, "Our aim, through our partnership with SATOS, is to provide Dutch users with a secure and seamless trading experience, backed by industry-leading security measures and unparalleled support.”
When Cointelegraph sought a comment from Bybit regarding the Bybit.nl launch, the company had not responded at the time of writing the report.
The news of Bybit's launch in the Netherlands follows a public warning issued against Bybit by the Securities and Futures Commission of Hong Kong on March 14. The regulator disclosed that Bybit had been offering crypto-related products in various jurisdictions without the possession of a license.
This story is still evolving and more information will be updated as it surfaces.
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Published At
3/28/2024 3:57:32 PM
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