Bybit targets institutional market share with new credit architecture and MMGW upgrade

Cryptocurrency exchange Bybit has announced two upgrades aimed at institutional trading firms, unveiling an expanded INS Credit Suite and a redesigned Market Maker Gateway (MMGW) at the BIG Series Institutional Gala in Dubai on 9 December 2025.

Yoyee Wang, Head of Business to Business of Bybit

The updates were presented by Yoyee Wang, Head of Business to Business of Bybit, who outlined an institutional blueprint that brings together custody, credit, execution, governance and operational resiliency under a single platform. Bybit said the upgraded credit offering is designed to improve capital efficiency while maintaining control, with features including up to 5× leverage, TradFi-aligned LTV parameters, and support for 1,000 sub-accounts.

"Across the industry, one theme is clear: institutions want capital efficiency without compromising control. With up to 5× leverage, TradFi-aligned LTV parameters, and support for 1,000 sub-accounts, we're delivering a true institutional-grade credit architecture,"

Yoyee Wang, Head of Business to Business of Bybit

Bybit also highlighted growing usage of its institutional lending products, stating that INS loan notional reached $1.1 billion this quarter, up 26% QoQ, driven by adoption from professional trading firms. A further headline development was the integration of custody-based RWA tokens into its off-exchange credit infrastructure, which the company described as a new operating model that lets institutions keep assets in custody, earn yield via tokenised money-market RWAs, and still access credit.

"For the first time, institutions can keep assets in custody, earn returns through tokenized money-market RWAs, and still unlock institutional credit. It combines control, transparency, and efficiency in a way the market has not seen before,"

Yoyee Wang, Head of Business to Business of Bybit

On the execution side, Bybit said its redesigned MMGW has reduced round-trip latency for INS clients to 5 milliseconds, with a 2.5-millisecond execution channel planned for 2026, positioning the upgrade as a move towards more consistent, predictable institutional-grade performance.

"Speed alone isn't the breakthrough — certainty is,"

"We engineered an execution lane designed for institutional performance: consistent, stable, and resistant to noise."

Yoyee Wang, Head of Business to Business of Bybit

'At Bybit, our philosophy is simple: listen, care, improve. Today's innovations reflect our focus on delivering smarter credit and faster execution — and we are just getting started.'

Yoyee Wang, Head of Business to Business of Bybit

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