Bybit Secures Full License in Kazakhstan on Sept. 27, 2024
- Bybit has received a full license from the Astana Financial Service Authority in Kazakhstan.
- The exchange will offer a range of services, including digital asset trading and investment management, with a website launch planned for mid-October 2024.
- This expansion signifies Bybit's commitment to enhancing its global presence and supporting the cryptocurrency market in Kazakhstan and the CIS region.
On September 27, 2024, Bybit, a leading cryptocurrency exchange, announced that it has received a full license from the Astana Financial Service Authority (AFSA) in Kazakhstan. This licensing allows Bybit to operate as a fully authorized market institution, enabling it to provide a wide range of services including digital asset trading, custody, and investment management. The expansion into Kazakhstan is part of Bybit's strategy to enhance its global presence and cater to the growing demand for cryptocurrency services in the region. The company aims to launch its Kazakhstan-specific website, bybit.kz, in mid-October 2024, offering products such as spot and derivatives trading, margin trading, and crypto loans. Bybit's CEO, Ben Zhou, expressed enthusiasm about the opportunities this license brings, highlighting Kazakhstan's emerging role in the global crypto ecosystem. The move is expected to foster innovation and growth in the cryptocurrency landscape, ensuring compliance and security for users in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.