Bybit Institutional Upgrades Platform to Secure Top Spot for BTC Futures Trading

<p>To maintain
its position among the largest exchanges handling Bitcoin (BTC) futures traffic,
Bybit Institutional has launched its updated trading platform. The platform
aimed at professional traders, a part of the Bybit exchange, has received a
refreshed interface. According to the company, the update better reflects the
range of innovations taking place in the rapidly evolving cryptocurrency
sector.</p><p>Bybit Unveils Revamped
Institutional Trading Platform</p><p>In addition
to its refreshed look, the updated version of the institutional platform offers
access to deep liquidity and fast order <a href="https://www.financemagnates.com/terms/e/execution/">execution</a>. As Bybit stated,
institutional clients can expect better security for their assets and a
favorable fee structure.</p><p>According
to Coinglass data, Bybit Institutional is one of the top three platforms most
frequently chosen by professional traders looking for opportunities to trade in
cryptocurrency futures contracts. The platform has secured a top-three spot
among crypto exchanges for total BTC futures open interest.</p><p>This occurred when rumors surfaced that the platform <a href="https://www.financemagnates.com/cryptocurrency/not-leaving-uk-bybit-responds-to-rumors/" target="_blank" rel="follow">plans to exit the
United Kingdom</a> due to regulations that came into effect in early October.
However, Bybit has disavowed these rumors, stating that it has no intention of
leaving the UK market.</p><p>"We
are thrilled to introduce the new Bybit Institutional page, designed to cater
specifically to the needs of our institutional clients," said Eugene
Cheung, the Vice President and Head of Bybit Institutional. "With our deep
liquidity, commitment to asset safety, and cost-efficient fee structure, we aim
to provide a seamless trading experience for institutions of all sizes."</p><p>In
addition, Bybit Institutional boasts partnerships with leading industry players
such as Copper, Circle, and Fireblock. </p><p>Bybit's New Licenses</p><p>The crypto
<a href="https://www.financemagnates.com/terms/e/exchange/">exchange</a> has been on a licensing spree to expand its operational reach lately.
After establishing its main global headquarters in Dubai in April, Bybit
FinTech FZE, its Middle Eastern branch, <a href="https://www.financemagnates.com/cryptocurrency/bybit-secures-authorization-in-dubai-amid-regulatory-reshuffle/" target="_blank" rel="follow">received </a>a preliminary Minimum Viable
Product license from Dubai's Virtual Assets Regulatory Authority. </p><p>Further
expanding its regulatory footing, Bybit recently secured <a href="https://www.financemagnates.com/cryptocurrency/bybit-strengthens-regulation-with-new-cyprus-license/" target="_blank" rel="follow">another license</a> from
the Cyprus Securities and Exchange Commission (CySEC), allowing it to operate
as a crypto exchange and provide custody services in Cyprus. The license was
granted to UAB Onlychain Fintech Limited, a Lithuanian entity, in May 2023.
This new authorization enables Bybit to offer a full suite of services,
including trading between crypto and fiat currency pairs. In another
development, </p><p>Bybit additionally <a href="https://www.financemagnates.com/cryptocurrency/bybit-secures-preliminary-approval-to-operate-in-kazakhstan/" target="_blank" rel="follow">received an “in-principle” license</a> from Kazakhstan's Astana Financial Services
Authority, allowing it to run a digital asset trading facility and offer
custody services at the Astana International Financial Centre. This license
comes with pre-conditions, leading to permanent authorization once the full
application process is complete.</p>

This article was written by Damian Chmiel at www.financemagnates.com.