Bybit CEO and co-founder Ben Zhou recently delivered a
live-streamed keynote on social media platform X. Zhou confirmed that Bybit is
applying for a MiFID II license in the European Union.
This would allow the crypto exchange to offer regulated
derivatives products, including futures and options, to European clients. The
MiFID license would expand Bybit’s services beyond its current MiCA
registration, which currently covers only spot crypto trading.
“We are working on our MiFID license, meaning hopefully
within six months we’ll present derivative trading products in the EU, all
compliant,” Zhou said.
CFDs Now Integrated In-App Platform
During the keynote, Bybit announced it would no longer
support MetaTrader 5, directing users to its own TraFi 5 platform. A company
representative said: “Our TraFi 5 is now live on your Bybit app—no more
MT5. We’re the first major exchange to launch TraFi access
directly in-app. All commodities, CFDs, and stocks are live via CFDs.”
The
change brings multi-asset trading crypto, stocks, and forex, under one
roof, with lower fees and closer integration. It also reflects Bybit’s aim to
move away from third-party trading platforms.
NEWS: @Bybit_Official secures #MiCAR license and sets up its European HQ in Vienna. Now fully regulated to operate across all 29 EEA countries under EU #crypto laws. pic.twitter.com/nwrLYglab4
— Roundtable Network (@RTB_io) May 29, 2025
Regulatory Push in Europe, UAE, and India
Bybit has already launched Bybit.EU, a
platform designed to comply with MiCA rules. The company plans to introduce
localized payment solutions and expand its derivatives services across the
region. Zhou also noted that the exchange is pursuing additional licenses in
the UAE and India.
You may find it interesting at FinanceMagnates.com: Tourists
in Rio May Soon Pay with Crypto as Bybit and Tether Expand.
User Growth and Security Incident
Zhou stated that Bybit now has 74 million users. He claimed
the exchange is the second-largest globally by user base. He also addressed a
major security incident earlier this year, calling it “the largest hack in
human history.” The
breach involved the theft of $1.5 billion in Ethereum.
Zhou said the attack did not impact Bybit’s own
infrastructure but prompted a full third-party security review. The company has
since upgraded its wallet systems and partnered with blockchain analytics firms
to trace the stolen assets.
Product Developments and Upgrades
The keynote included several product updates. Bybit
executives have taken advisory roles in Mantle, an Ethereum Layer 2 project
incubated by the exchange. The platform has launched an updated AI trading
assistant that incorporates social sentiment into trading signals.
Users can now access tokenized stocks, including Apple and
Tesla. The Bybit Card has expanded to Latin America and Southeast Asia and now
offers cashback rewards. A new wealth management feature has also been
introduced for users with over $1 million in assets.
Planned Features for Retail and Institutional Clients
Upcoming product launches include a Web3 wallet for direct
on-chain trading and a request-for-quote system for institutional users. The
company is also introducing a simplified interface for yield products, divided
into three categories: Easy, On-Chain, and Advanced.
This article was written by Tareq Sikder at www.financemagnates.com.
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