Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is celebrating a significant milestone as it reaches 37 million users.
During a keynote address on July 22, 2024, Bybit CEO Ben Zhou emphasised the exchange's remarkable growth and outlined ambitious plans for its future, emphasising a major push towards Web3 integration.
Being the world's #2 spot cryptocurrency exchange and #3 derivatives market, Bybit's dominant market position serves as more evidence of its success.
The exchange’s growth is further exemplified by its thriving VIP program, which boasts over 90,000 members enjoying exclusive benefits and offline events.
Central to Bybit’s future strategy is the introduction of its Web3 service.
Zhou described the platform's goal to merge the familiarity of a centralised exchange with the decentralised advantages of a Web3 wallet, creating a seamless user experience.
This includes integrating the decentralised Bybit Wallet with centralised exchange features to enhance user exploration in the Web3 space.
Bybit has also made strides in user education, hosting 24 livestream sessions in the first half of 2024 that attracted over 30 million views.
The platform supports its users with educational resources, a free AI assistant (TradeGPT), and advanced trading tools like the Future Combo Trading Bot.
Security remains a top priority for Bybit, which has implemented robust measures including biometric authentication, real-time notifications, and AI-powered fraud detection.
On the regulatory front, Bybit is pursuing a MiCA license for Europe and has applied for approvals in other key regions.
The Bybit Card, launched recently in Argentina, exemplifies the exchange’s commitment to practical crypto use, offering seamless integration with Google and Apple Pay, multi-asset spending, automatic currency conversion, and up to 10% cash back.
Overall, Bybit’s focus on Web3 innovation, regulatory compliance, and user engagement positions it as a leading force in the evolving crypto landscape.