Bybit Crypto Exchange Unveils Trading Platform in the Netherlands

Crypto exchange Bybit confirmed something exciting about Bybit.nl to offer crypto trading services in the Netherlands. The announcement portrays a critical achievement for Bybit in expansion within the European region amid regulatory scrutiny in Hong Kong.

Bybit.nl Announcement Of operation in Netherlands

The Dubai-headquartered crypto exchange revealed on Thursday, March 28, that Bybit.nl will offer Dutch users access to crypto trading alongside education resources. With these developments, Bybit is exploring the integration of an AI crypto trading robot to enhance trading strategies and decision-making for users on the Bybit.nl platform, aiming to provide a competitive edge in the fast-evolving cryptocurrency market.

The new operation of Bybit.nl features a collaboration with Satos, among the oldest Bitcoin oriented firms in the Netherlands. The partnership will allow Dutch users to deposit and withdraw funds in fiat currency and execute a trade in over 300 pairs. Meanwhile, the Bybit co-founder and chief executive Ben Zhou hailed the launch of the trading platform, indicating that it portrays the firm’s commitment to serving Dutch users. The chief executive promised regulatory compliance when running the Bybit.nl platform that the entry into the Dutch crypto market will offer Bybit presence in a region considered to shape the global crypto arena in future.

Bybit Taps Satos to Offer Secure Trading Platform

Recently, Zhou lauded Satos’ input in realizing the ideal partnership platform that offers Dutch users a secure trading experience. He indicated that Bybit.nl should adopt the industry-leading security measures created by Bybit itself in order to provide safe and support. While, Launching a trading platform serving the Netherlands is a critical milestone for Bybit, following the local reports that the crypto exchange will discontinue its services by the end of last month. The crypto exchange shut down the derivatives services offered in the Netherlands to comply with the guidelines issued by the Dutch central bank.

Later on, a post published by Indy Rottier on Linkedln last month captured the Cryptotag’s communications head that the Dutch regulations would become effective on March 5. In the post, the Rottier further revealed that other global exchanges, including Gemini and Binance, were compelled to halt operations until they complied with the new laws.

Bybit Challenges Of Compliance in Hong Kong

The news of Bybit.nl launching comes two weeks after the Securities and Futures Commission (SFC) in Hong Kong penned a public warning to Bybit. The SFC warned on March 14 that Bybit was providing crypto-related services and products without compliance and seeking a license.

The regulator expressed concerns that Bybit had offered Hong Kong investors crypto-related products. The warning ruled out that any of the Bybit groups have fulfilled the requirements necessary for licensing and registration to provide such products.

Far now, Bybit is among the leading global exchanges, with a daily trading volume of over $3.5 billion. According to kako’s data, the average Bybit’s daily trading volume tested is $4.3 billion by March 4 to rank second on the day from Binance, which realized over $23 billion.