Bybit Seeks Partnerships to Enter US Market
CEO Ben Zhou plans alliances with local firms to challenge Robinhood and bypass state licensing hurdles.
Regulation Editor: Fabricio Marcilio 1 min read
Crypto exchange Bybit plans to enter the United States market through partnerships with established financial firms. The goal is to challenge the dominance of companies like Robinhood in the sector.
CEO Ben Zhou stated that the company is looking for firms that do not yet handle digital assets but possess a solid customer base in the country. He cited examples like Interactive Brokers as potential strategic partners for this expansion.
This strategy aims to avoid the state licensing process which can take years. Bybit prefers to wait for a clearer federal regulatory landscape before launching operations on American soil.
Currently, Bybit has over 80 million registered users across 180 countries. The company maintains a clean record in the United States by never having operated directly in the region, which the CEO considers a competitive advantage.
The company is also preparing to launch a full-featured app in Europe next year. The focus will be on offering derivatives and tokenized stocks to expand its global reach.
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