DUBAI, UAE, Sept. 27, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to announce that it has been granted a full license by the Astana Financial Service Authority (AFSA). This significant milestone enables Bybit to operate as a fully authorized market institution in Kazakhstan, marking another step in the company’s global expansion.

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. Bybit’s new licensing opens many opportunities for users in Kazakhstan and the broader Commonwealth of Independent States (CIS) region.

“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,” said Ben Zhou, co-founder and CEO of Bybit. “With this full license, we are committed to bringing our cutting-edge technology, security, and transparency to crypto traders in Kazakhstan, ensuring they can access the best possible tools and services to thrive in this fast-growing industry.”

With this license, Bybit Kazakhstan will now offer various products, including spot and derivatives trading, margin trading, and crypto loans.  The Bybit Kazakhstan website, under the domain “bybit.kz,” is scheduled to launch in mid-October 2024.  The expansion into Kazakhstan aligns with Bybit’s mission to provide reliable and transparent services, catering to the unique needs of crypto traders and investors in the region.

This new chapter for Bybit in Kazakhstan solidifies the company’s commitment to fostering innovation and growth within the global cryptocurrency landscape. With a fully regulated platform, Bybit is poised to deliver enhanced services that meet the highest standards of compliance and security. Bybit looks forward to building strong relationships with traders in Kazakhstan and across the CIS region, empowering them to navigate the dynamic world of digital assets with confidence.

#Bybit / #TheCryptoArk

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50  million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.

For media inquiries, please contact: [email protected]

For more information, please visit: https://www.bybit.com

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DUBAI, UAE, Sept. 27, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Block Scholes, a renowned quantitative finance firm, has released its latest crypto derivatives analytics report. The report provides a comprehensive analysis of the crypto market’s response to the Federal Reserve’s recent rate cut and highlights key trends in futures, options, and perpetual contracts.

Following the 50 basis point rate cut on September 18, 2024, both spot and derivatives markets have exhibited positive sentiment. Bitcoin (BTC) and Ethereum (ETH) have seen price increases, while open interest in futures and perpetual swaps remains high. Funding rates have generally been positive, and BTC call open interest has gradually risen. Additionally, the volatility smile has expanded for both BTC and ETH calls, indicating increased investor optimism.

Key Findings from the Report:

• Futures Market: While futures trade volumes have declined, open interest remains resilient, suggesting traders are maintaining their positions.
• Perpetual Swaps: Perpetual swap open interest and trading volumes have remained relatively stable, indicating consistent trader activity.
• Options Market: BTC options activity has favored puts over calls, but open interest for calls is slowly recovering. Implied volatility for short-tenor options has fallen since the Fed’s rate cut, indicating growing bullish sentiment.

Bybit remains committed to providing its users with comprehensive market analysis and tools to help them make informed trading decisions.

For more information and to download the full report, please visit: https://learn.bybit.com/crypto-insights/bybit-x-block-scholescrypto-derivatives-analytics-report-sep-25-2024/

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50  million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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• Agreement signed with the Ministry of Digital Transformation, Trinidad and Tobago
• Marks an important step in expanding India’s digital public goods initiative globally

MUMBAI, India, Sept. 27, 2024 /PRNewswire/ — NPCI International Payments Limited (NIPL) has entered into a strategic partnership with the Ministry of Digital Transformation (MDT) of Trinidad and Tobago, to develop a real-time payments platform similar to India’s ‘Unified Payments Interface‘ (UPI). This collaboration marks a significant milestone, making Trinidad and Tobago the first Caribbean nation to adopt the globally renowned UPI. This builds on the strong, longstanding bilateral ties between the two countries.

This strategic partnership aims to empower Trinidad and Tobago to establish a reliable and efficient real-time payments platform for both person-to-person (P2P) and person-to-merchant (P2M) transactions, expanding digital payments in the country and fostering financial inclusion. By leveraging technology and experiences from India’s UPI, the partnership seeks to assist Trinidad and Tobago in modernising its financial ecosystem. This involves enhancing accessibility, affordability, connectivity with domestic and international payment networks in the times to come and ensuring interoperability.

UPI has emerged as a transformative force in India’s financial landscape, registering nearly 15 billion transactions in August 2024, with an estimated value of USD 245 billion. Through strategic collaborations with foreign central banks and governments, NIPL is committed to advancing India’s digital public goods across the globe.

Speaking on the development, Mr. Ritesh Shukla, CEO, NPCI International, said, “Trinidad and Tobago is taking significant steps towards advancing its financial infrastructure, and we are proud to support them in building a secure, sovereign, and scalable payments platform. Our experience with UPI in India has demonstrated how real-time payments can transform economies, by improving access to essential financial services and reducing reliance on cash. We look forward to working closely with the Ministry of Digital Transformation and the Central Bank in Trinidad and Tobago.”

Spokesperson of Ministry of Digital Transformation, Trinidad and Tobago, said, “It is with great anticipation that the Ministry of Digital Transformation and the Ministry of Finance embark on this significant engagement with NIPL to implement a digital payment system for Trinidad and Tobago. Fashioned on India’s UPI, the digital payment platform will facilitate innovation in the Fintech sector, enhance the technical resiliency of the current payment infrastructure by providing a complementary, non-competing digital payments platform with increased security through the reduced use of cash. Moreover, successful implementation will contribute to the financial inclusion of our unbanked citizens. We extend sincere thanks to the Central Bank of Trinidad and Tobago, which continues to be a strategic partner and stakeholder in this important initiative. We look forward to the partnership with NPCI International, as we actively seek to transform the existing payments landscape and establish a modern digital payments ecosystem.”

For more details about NPCI International, click here.

For queries: [email protected] 

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