Bybit announces $1.7tn crypto transactions in last quarter

Singapore exchange Bybit has held its year-end product launch to share its milestones and new products and services

Cryptocurrency exchange Bybit has announced a 77% increase in its global user base and more than $1.7tn worth of crypto asset transactions over the last quarter.

During its annual session dubbed ‘Bybit Next Level’, CEO Ben Zhou shared recent milestones as well as the new products and services that the crypto exchange will be launching soon for its global users.

“2021 has been a rollercoaster year for crypto,” Zhou said.

“To our supporters, thank you for making history and being at the forefront with us to witness the evolution of the industry.

“We will continue to bring our A-game and take the industry further by bringing Next Level Trading to you and elevate your overall experience.”

Zhou added that the exchange was currently serving global communities from more than 150 countries and supporting 13 languages.

Bybit also confirmed its support of spot trading, derivatives trading, new token launchpad, and the staking and yield earning services in ByFi Center that include launchpool to boost users’ trading.

Bybit’s improved system ensures 99.9% uptime all year round, said Zhou and added the company has partnered with top eSports teams NAVI, Astralis, Alliance and Virtus.Pro.

ByBit to commit 2.5bps of its futures trading volume to BitDAO

Alongside its existing sponsorship with German professional sports club Borussia Dortmund (BVB), Bybit is also the global sponsor of the Argentine Football Association and a sponsor of Japanese professional football club Avispa Fukuoka to support revitalizing efforts in the prefecture.

The company said it was committed to giving $800,000 in Bitcoin to UNICEF to support or empower the girls’ education in East Asia and the Pacific.

Bybit has also contributed more than $300m and pledged to commit 2.5bps of its futures trading volume to BitDAO – one of the world’s largest token governed treasuries.

Zhou also announced some new plans which include options trading (European options, and linear options contracts collateralised in USDC), USDC perpetuals and portfolio margin, as well as the unified margin account and grid trading that includes a trading bot within Bybit’s ByFi center.

The company also has implemented Wallet 3.0 that is supporting 100 different assets including DeFi, NFTs, which are built with smart contracts, ‘Trader Circle’ loyalty program, and Bybit NFT Marketplace.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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