When one 🚪 closes, another 🪟 opens: While Binance is set to leave Cyprus, ByBit scores a crypto license; joenakamoto reports.
Crypto exchange Bybit revealed it has acquired a license to operate as an exchange and custody service in Cyprus. The world’s third most visited crypto exchange will begin offering trading between crypto and fiat currency pairs, and crypto-related financial services.
Cyprus is the third most populous island in the Mediterranean Sea, with a population of 1.2 million people. In a press release, Ben Zhou, the co-founder and CEO of Bybit, explained the importance of expanding the group’s global presence, highlighting the role of crypto as a way of opting out of the legacy financial system:Cyprus is increasingly a crypto hotspot in the Mediterranean, in some parts driven by actions from the public sector.
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