Bybit, one of the world’s largest cryptocurrency exchanges by trading volumes, is expanding operations in Europe after facing regulatory scrutiny in Hong Kong.
On March 28, Bybit officially announced the launch of its digital asset platform, Bybit.nl, in the Netherlands. The new local trading platform is regulated in the country and is designed to provide Dutch users with access to cryptocurrency trading and education resources.
The launch of Bybit.nl is enabled through collaboration with Satos, one of the oldest Bitcoin (BTC)-focused companies in the Netherlands. Through the partnership, Bybit’s Dutch users can deposit and withdraw fiat currency and trade over 300 pairs.
Bybit’s launch in the Netherlands aims to further the company’s commitment to serving users while upholding regulatory compliance, Bybit co-founder and CEO Ben Zhou said. He added:
“Through our partnership with SATOS, we aim to provide Dutch users with a secure and seamless trading experience, backed by industry-leading security measures and unparalleled support.”
Cointelegraph approached Bybit for a comment regarding the Bybit.nl launch but had yet to receive a response at the time of publication.
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The news comes a few weeks after Hong Kong’s Securities and Futures Commission issued a public warning against Bybit on March 14. The regulator elaborated that Bybit offered crypto-related products in a number of jurisdictions without holding a license.
This is a developing story, and further information will be added as it becomes available.
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