CoinDesk
Bybit plans to pursue partnerships with established U.S. brokers as it weighs entering the market, CEO Ben Zhou said. He named Interactive Brokers as one example of a firm with an existing U.S. client base that could be interested in adding crypto. Bybit, which has more than 80 million registered users across over 180 countries and regions, has not yet entered the U.S.
Why it matters
Zhou said partnerships are Bybit’s standard approach when entering new territories. In the U.S., that strategy could avoid the state-by-state licensing process, which he said may take two to three years. He also said Bybit could wait for greater clarity on legislation such as the proposed Clarity Act and the future role of federal regulators.
Zhou described Bybit’s absence from the U.S. as an advantage, saying the exchange has a clear record there and can wait for a suitable time to enter rather than rush into a crowded market. Robinhood and Coinbase are among the established competitors he cited.
Market impact
Bybit is also considering expansion in the U.K., which Zhou called an attractive but largely untapped market. He said global exchanges are not dominant there, though entry costs are high and could approach the effort required to secure a MiCA license in the European Union. Bybit is looking at a London office but has not made a decision.
The company has been collecting licenses globally and plans to offer regulated products in new markets. In Europe, Zhou said Bybit plans an app combining derivatives and tokenized stocks as early as the first quarter of next year.
Frequently asked questions
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Why is Bybit considering a U.S. broker partnership?
CEO Ben Zhou said a partner could already have a U.S. client base and help Bybit enter crypto through an established local company.
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How long could U.S. state-by-state licensing take?
Zhou said the state-by-state licensing process could take two to three years.
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Why does Bybit say its absence from the U.S. is an advantage?
Zhou said Bybit has a clear record in the U.S. and can wait for a suitable time to enter rather than rush into a competitive market.
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What makes the U.K. attractive to Bybit?
Zhou described the U.K. as relatively untapped, with no global exchange dominant there. He also said the cost of entry is high.
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What is Bybit planning for Europe?
Bybit plans an app combining derivatives and tokenized stocks in Europe as early as the first quarter of next year, Zhou said.
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