In the biannual keynote speech by Bybit’s CEO Ben Zhou on July 22, the crypto exchange recorded significant growth, reaching 37 million users. The keynote speech also outlined other achievements the exchange managed to attain and its plans for the future.
The keynote speech revealed that Bybit is currently the second-largest exchange globally and ranks third in the derivatives market in terms of trading volume. Ben said the Bybit VIP program contributed to the exchange’s growth. The VIP program now has over 90,000 users accessing exclusive perks and offline events.
Web 3 remains a huge focus for Bybit
Ben talked about the Bybit Web3 service, which bridges the gap between its decentralized and self-custodial wallet and the centralized exchange. This innovation allows users to explore Web3 in a decentralized way while receiving the ease and service users find in CEXs. Bybit’s CEO believes Web3 services can significantly improve user experience.
“We want to provide the CEX look and feel, and service but allow our users to explore Web3 in a decentralized way.”
Ben Zhou, Bybit’s CEO
Bybit’s CEO insisted on the necessity of proper security measures for users who engage with its Web3 service. Ben revealed the advanced risk control measures the exchange employs to ensure user safety. Some security features he mentioned included one-click account freeze, AI-powered live face and virtual camera detection, and biometric and Telegram notifications.
According to Ben, the key to Web3 innovation also lies in educating its users about technological developments. Earlier this year, the exchange hosted 24 live streams to educate users on Bybit’s capabilities. The speech highlighted that the live stream sessions provided users with a platform to learn, trade, and interact with experienced figures in the crypto space. The 24 livestream sessions attracted over 30 million views.
Ben further mentioned the comprehensive Bybit educational program, offering users a place to learn about crypto. Other services Ben outlined in the speech included TradeGPT, a free AI assistant, and Future Combo Trading Bot, an exclusive trading tool.
Bybit plans on global expansion
Bybit is making necessary steps toward global expansion, including getting licenses across different jurisdictions. The keynote speech highlighted that Bybit received a MiCA license, opening doors for its expansion in Europe.
Ben mentioned that the license would act as Bybit’s indicator of its dedication to regulatory compliance. He also revealed the exchange’s application for licenses in other jurisdictions.
The speech also discussed the Bybit Card, which was most recently launched in Argentina. The Bybit Card integrates with other global payment systems, such as Google Pay and Apple Pay, and enables users to access services anywhere globally where Mastercard is accepted.
Bybit’s CEO added that the card’s multi-currency options provide a seamless way for users to transact. The card notably offers up to 10% cash back on different purchases.
