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

June 26, 2023 - Bybit, the world’s third most visited crypto exchange, has successfully obtained a license to operate a crypto exchange and provide custody services in Cyprus. Bybit says that, “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. 

“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 strong 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.

Bybit has registered as a Crypto Asset Service Provider (CASP) and details of its registration can be found here.