Cryptocurrency exchange Bybit announced on Friday that it has received a full license from the Astana Financial Service Authority (AFSA) in Kazakhstan. This license allows Bybit to operate as a regulated market institution, marking a significant step in its global expansion efforts and cementing its role in the Commonwealth of Independent States (CIS) region.

The announcement details:

Under full authorization from AFSA, Bybit Kazakhstan will offer a comprehensive range of services, including operating a digital asset trading facility, providing custody, dealing in investments as both an agent and principal, and managing investments.

Ben Zhou, co-founder and CEO of Bybit, emphasized the importance of Kazakhstan in the crypto landscape, stating: “Kazakhstan has become a key player in the global crypto ecosystem, and we are thrilled to be expanding our services in such a dynamic market.”

The exchange plans to provide services like spot and derivatives trading, margin trading, and crypto loans, and will launch its website, bybit.kz, in mid-October 2024. Zhou further noted:

With this full license, we are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan.

This expansion highlights Bybit’s commitment to offering reliable, regulated services in the crypto sector, serving over 50 million users.

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