After launching its global headquarters in Dubai less than a year ago, the cryptocurrency exchange Bybit is now looking towards Europe where it aims to open Amsterdam’s regional office.
The establishment of the new bureau in the Dutch capital was made possible through strengthened cooperation with SATOS, a company that holds a country’s virtual asset service provider license, which Bybit uses to operate in the local market.
Crypto Exchange Bybit Opens New European Office
Citing promising opportunities from the Dutch regulatory environment and growing interest in crypto assets, Bybit now intends to set up a permanent Amsterdam office over the next few months.
According to Bybit, the local office will improve its ability to adhere to Dutch regulations and serve the local crypto community. Additionally, Bybit said that the Amsterdam space will be open as a co-working venue for networking and knowledge sharing within the broader crypto industry.
"We are committed to providing a safe and secure trading environment for all our users and understand the importance of complying with local regulations," said Ben Zhou, the Co-Founder and CEO of Bybit.
As we mentioned in the introduction, for Bybit, this marks the opening of another office following its decision in April 2023 to relocate global headquarters to the United Arab Emirates, specifically to Dubai. The Middle East has been attracting an increasing number of popular cryptocurrency brands in recent quarters, aiming to become an international hub for digital assets.
SATOS and Bybit Partnership
Bybit formed an alliance with SATOS in June 2023, enabling it to continue offering crypto trading services to users in the Netherlands. Despite recent regulatory changes in the country, Bybit said that its collaboration with SATOS allows it to comply fully with rules set by the Dutch central bank.
The exchange has seen substantial growth in the Netherlands since partnering with SATOS. Bybit said that it has doubled its revenue there month-over-month since last June.
"Our partnership with SATOS allows us to continue offering our services to Dutch users by meeting all regulatory requirements,” Zhoud added.
Bybit is currently one of the top three crypto exchanges worldwide by trading volume with 20 million users. The exchange promises fast trading, 24/7 customer support and a range of coin pairs. At the end of 2023, the company celebrated five years of its operations by introducing new tools related to decentralization and Web3.
