Ben Zhou, co-founder and CEO of Bybit, the third most visited cryptocurrency exchange in the world, celebrated a stream of new products and milestones in his mid-year review. He also shared details of new product arrivals at Bybit including a debit card, and wallet.
Recent Significant Milestones
- 10 million users in 160 countries. In August 2022, Bybit reached a total of 10 million users, a huge milestone for the fast-growing crypto exchange.
- Supporting 16 languages. Bybit strode toward becoming a global crypto exchange, and now supports trading in 16 languages, as well as 24/7 customer support available in 13 languages.
- The Third Most Visited Crypto Exchange. Bybit was the third most visited crypto exchange every month of 2022.
- Established 12 country-specific teams. Bybit is determined to be the crypto ark for the world and its 12 local market teams saw 5x quarterly growth on average across local markets:
○ 27% growth in Mexico
○ 346% growth in Argentina
○ 109% growth in Vietnam
○ 255% growth in Brazil
- Deepening partnerships. In 2022, Bybit became the principal crypto partner for the outstanding F1 team Oracle Red Bull Racing. Bybit launched several NFTs with Oracle Red Bull Racing, including the Playseat Auction at the Monaco Grand Prix where the winner won the physical playseat and an NFT playseat.
- Global sponsorships: Bybit continued its existing sponsorship with top-tier German football club Borussia Dortmund (BVB), and Japanese J League football club Avispa Fukuoka. The crypto exchange also added MIBR, the biggest esports team in Brazil, to its list of esports teams, which include NAVI and Astralis.
- Giving back: After a record-breaking turnout to Bybit’s annual World Series of Trading competition, Bybit was able to pledge $900,000 in BTC to UNICEF from the WSOT prize pool. The funds will aid digital learning for kids in East Asia and the Pacific, and augment STEAM education for girls in Vietnam.
The Latest on Bybit’s Products & Services
- Bybit Card. The Bybit debit card is coming soon! It will allow users to pay for goods and services with stablecoins such as USDC. Bybit will partner with a major debit card provider to allow access to crypto payments around the world.
- Web3 Aggregator and Wallet. The Bybit team is working on a web3 Aggregator, which will show users the hottest projects in DeFi, and contain tutorials to help onboard new users. It will work in conjunction with the Bybit Wallet, another hotly anticipated product coming soon.
- Options Trading. In 2022, Bybit released the first-in-market USDC Options trading and settlement. The stablecoin-margined options contract allows users to trade BTC, ETH, and SOL crypto options conveniently using USDC.
- Futures and Perpetuals. Bybit’s flagship product — which includes perpetual and expiration futures — has continued to succeed massively in 2022. On average, there were 200,000 active daily traders on Bybit’s derivatives platform generating an average daily trading volume of over $10 billion.
- Fiat On-Ramps. Bybit improved access to crypto for users all around the world by supporting crypto purchases with 30 different fiat currencies. Usage of this feature is up nearly 6x since launch, with nearly 24,000 transactions per month.
- Launchpad and Launchpool. Bybit is an incubator for promising web3 products. In 2022, nearly 850,000 Bybit clients participated in Launchpad token launches.
- Spot Trading. In 2022, Bybit expanded its spot pair listings and now features 260 trading pairs allowing users to go further in trades and enjoy maximum profitability due to Bybit’s significant market depth and best-in-class liquidity.
- Grid Trading Bot. Grid trading bots are a brand new edition to Bybit’s line-up with an already available bot for the spot market, and a derivatives trading bot coming very soon.
“We are here so people can take advantage of what the world of web3 can offer,” said Zhou, during the session. “Whether you’re after the financial freedom, whether you’re after the tech innovation, or whether you’re using crypto to hedge a risk either with your local fiat or because of the pandemic. We are here to build adoption-ready products to help our users go into the world of crypto. Our mission is to empower crypto believers to achieve their dreams.”