Bybit Reenters UK Market with Archax Partnership

Bybit Reenters UK Market with Archax Partnership

Key Points:

  • Bybit collaborates with Archax for UK market reentry.
  • Offers spot trading and P2P services.
  • Adheres to FCA financial promotion rules.

This reentry into the UK market signifies a significant move for Bybit, emphasizing its commitment to regulatory compliance and expanding global reach.

Bybit has announced its reentry into the UK market through a strategic partnership with Archax, an FCA-authorized firm. This collaboration allows Bybit to offer spot trading on 100 pairs and P2P services, ensuring adherence to UK financial promotion rules.

Mykolas Majauskas, Senior Director of Policy, Bybit stated, “Our goal is to give UK users reliable access to global opportunities in digital assets,” and, “The UK is home to one of the most sophisticated financial ecosystems in the world, and its clear regulatory direction makes it an ideal environment for responsible innovation. In the months ahead, we aim to embody this innovative spirit by introducing new products tailored to the needs of UK users, always within a framework that prioritises transparency, and compliance.

The partnership with Archax underscores Bybit’s focus on regulatory compliance, leveraging Archax’s expertise in providing a compliant framework. This move marks a return for Bybit, fostering a platform designed to enhance user engagement with the digital-asset economy.

The reentry is expected to impact UK crypto users, offering increased access and liquidity across 100 trading pairs. Bybit aims to support informed engagement within the UK’s sophisticated financial ecosystem. The strategic decision highlights the importance of regulatory frameworks for cryptocurrency exchanges operating in complex markets like the UK.

Ben Zhou, Co-founder and CEO, Bybit, emphasized, “Over the past year, we have built products shaped by the needs of UK users, and we are excited to mark not just a return, but the start of a new chapter where users gain access to a platform designed to support informed engagement with the digital-asset economy.

Bybit’s compliance with FCA standards reflects broader industry trends following regulatory adjustments in 2023. Potential outcomes may include increased market liquidity and greater user participation in the UK. The successful partnership may set a precedent for other exchanges seeking compliant entry into regulated markets, enhancing user confidence and reinforcing regulatory relationships within the cryptocurrency space.

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