The firm is also developing a Web3 wallet, an RFQ system for institutional users, and a yield interface.
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.
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.
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.
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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 Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term analytics firms to trace the stolen assets.
The keynote included several product updates. Bybit executives have taken advisory roles in Mantle, an Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term 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.
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.
