Bybit, the world’s second-largest crypto exchange by trading volume, made waves at Solana Breakpoint 2025 in Abu Dhabi, held from December 11 to 13. CEO and co-founder Ben Zhou joined Lily Liu, President of the Solana Foundation, for a fireside chat about the future of crypto.
The discussion came shortly after Bybit celebrated its seventh anniversary, a milestone Zhou says reflects the platform’s resilience and growing global footprint.
Compliance Takes Center Stage
Zhou emphasized that the past two years have been transformative for Bybit, with regulatory compliance becoming a core priority.
“This year for me is really focused on compliance and getting licensed,” Zhou said. Bybit was among the first exchanges to secure a license from the UAE’s Securities and Commodities Authority (SCA) and also achieved licensing under Europe’s MiCA framework. Zhou highlighted that Southeast Asian markets, including Thailand, Vietnam, and Indonesia, are preparing to onboard more users into crypto.
For Bybit, regulatory alignment is more than a checkbox. It’s about building trust and connecting with local financial systems. “The role of the exchange now is how do we connect to local banks and become the gateway for people who haven’t yet entered crypto,” Zhou explained.
Expanding Payments and Access in Emerging Markets
Zhou pointed to strong adoption in Latin America, the CIS region, and Africa, where crypto exchanges often serve as primary financial tools in underbanked communities.
“In markets where we hold local approvals, users rely on Bybit like a bank. They can use our crypto card, participate in earn programs, and even access structured products,” Zhou said. Expanding payment functionality is driving real-world utility and fueling Bybit’s continued global user growth.
Byreal and the Rise of Decentralized Liquidity
Zhou also highlighted Byreal, Bybit’s decentralized exchange built on Solana, focusing on liquidity and execution quality.
“We want to make sure the DEX has strong liquidity,” he said, noting that trading activity is increasingly being routed to Byreal because of its tight spreads and deep markets. He contrasted this with Bybit’s wallet project, which was discontinued after user stickiness failed to materialize. “Users choose wallets for airdrops or ecosystem access, not loyalty,” Zhou noted.
Bybit sees DEXs as the future of trading, with liquidity and derivatives activity shifting from centralized exchanges to platforms like Hyperliquid. This trend reinforces Byreal’s focus on providing robust, reliable decentralized markets.
Building the Future of Crypto Infrastructure
Zhou wrapped up by reaffirming Bybit’s mission: to build compliant, accessible infrastructure while driving innovation in decentralized markets. The platform’s seven-year track record underscores its commitment to reliability, strong user growth, and adaptability in a rapidly evolving global crypto landscape.
