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-Encouraging trust in cryptocurrencies: Bybit CEO advocates for integrity and collaboration at DACOM Singapore

DUBAI, UAE, March 25, 2024 /PRNewswire/ -- Bybit, one of the world's top three crypto exchanges by volume, is pleased to share the key insights shared by its Co-founder and CEO, Ben Zhou, during his participation in a keynote session at DACOM Singapore 2024. Zhou's contributions delved into Bybit's strategic focus on user experience, commitment to market integrity, and proactive engagement with regulatory bodies amid the changing landscape of the cryptocurrency industry .

Address misconceptions and foster understanding

Zhou addressed the prevailing misunderstandings around decentralized finance (DeFi) and its relationship with traditional financial systems. He highlighted the industry's efforts to close the gap and collaborate with regulators, emphasizing the value proposition of cryptocurrencies as an option, particularly for regions with struggling traditional financial infrastructures.

Navigating the regulatory terrain

Zhou reiterated Bybit's proactive stance towards regulatory engagement, emphasizing the importance of constructive dialogue and compliance with various regulatory frameworks. He emphasized the importance of maintaining market integrity and preventing manipulative practices, especially given Bybit's focus on serving institutional clients.

Institutional Adaptability and Industry Outlook

Offering insight into the future trajectory of the industry, Zhou predicted a continued rise in institutional participation and a growing trend toward self-custody among retail investors. He highlighted the importance of agile decision-making and adaptability when navigating the dynamic landscape, underscoring Bybit's commitment to evolving alongside market demands.

Hybrid solutions and interoperability in DeFi

Highlighting the dynamic evolution of decentralized finance, Zhou stated, "The landscape is not solely defined by full decentralization or complete centralization. Rather, there is a diverse spectrum of hybrid DeFi models." He underscored the industry's journey toward interconnection and interoperability, highlighting hybrid solutions as critical to bridging conventional and decentralized financial frameworks.

Collaborative growth initiatives

Zhou reiterated the importance of collaboration with regulatory authorities, particularly central banks, to facilitate licensing procedures and enable innovation in financial services. He recognized the challenges inherent in interacting with regulators in various jurisdictions, highlighting the imperative of collaboration and compliance to foster industry growth and legitimacy.

Shaping a resilient cryptocurrency future

Bybit's participation in DACOM Singapore 2024 exemplifies its dedication to improving user experience, addressing regulatory challenges, and driving the continued evolution of the cryptocurrency ecosystem.

About Bybit

Bybit is one of the world's top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where cryptocurrency investors and traders can find a lightning-fast matchmaking engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of the reigning Formula One Constructors and Drivers champions – the Oracle Red Bull Racing team.

For more details on Bybit, visit Bybit Press.For media inquiries, contact: media@bybit.com For more information, visit: https://www.bybit.com For updates, follow: Bybit's Communities and Social Media

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