Bybit announces the launch of Bybit.nl, a new Dutch platform in collaboration with local bitcoin firm Satos, enhancing crypto trading services in compliance with European regulations.
Bybit, a leading crypto exchange, has broadened its European footprint by unveiling Bybit.nl, its Dutch subsidiary, in a strategic alliance with the Netherlands-based bitcoin firm, Satos. This expansion, announced on March 28, 2024, aligns with Bybit’s commitment to regulatory compliance and user-centric service.
The new platform promises Dutch crypto enthusiasts a comprehensive suite of trading options and educational content, all within a framework sanctioned by local regulations. The collaboration with Satos ensures that users have access to a seamless trading experience, including fiat transactions and a diverse array of over 300 trading pairs.
Ben Zhou, Bybit’s co-founder and CEO, reaffirmed the exchange’s pledge to offer a secure and regulated trading environment in the Netherlands. This move comes after Bybit’s proactive adjustment of its services earlier in February 2024, ceasing derivatives offerings to meet Dutch regulatory standards.
The backdrop to this development is the unanimous approval of the Markets in Crypto-Assets (MiCA) regulation by the EU’s Economic and Financial Affairs Council on May 16, 2023. MiCA, which came into effect on June 29, 2023, sets a comprehensive legal framework for digital assets, aiming to bring clarity and security to the cryptocurrency and stablecoin markets in Europe.
The regulation will be fully applicable from June 30, 2024, in some parts and from December 30, 2024, in other regions.
Bybit’s strategic move into the Netherlands underlines the exchange’s agility in navigating the evolving regulatory landscape and its dedication to fostering a compliant and robust crypto market in Europe.
