Bybit pushes beyond crypto exchange model as multi-asset competition intensifies

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Bybit expands beyond crypto

Highlights

Bybit launches its 'Make Your Move' campaign, expanding beyond crypto to offer stocks, gold, forex, indices, and wealth-building tools on its platform.
Multiple crypto exchanges, including BitMEX (ending trading after 11 years), CoinEx, and BitMart, announce closures or restructuring due to declining volumes and higher compliance costs.
Coinbase advances its 'Everything Exchange' strategy by adding stocks and prediction markets, intensifying competition among platforms offering multi-asset financial ecosystems.

Bybit broadens platform strategy

As reported by Cointelegraph, Bybit co-founder and CEO Ben Zhou says customers increasingly want access to stocks, gold, foreign exchange, indices and derivatives alongside crypto trading. He says users also want payment, savings and wealth-building tools within a single platform.

Zhou's comments accompany Bybit's launch of its “Make Your Move” campaign, which positions the company as a broader financial platform rather than a pure crypto exchange. Bybit already offers derivatives linked to stocks, gold, indexes and forex, giving users price exposure without ownership of the underlying assets.

He says the next generation of financial platforms is unlikely to be built around a single asset class, underscoring a wider industry move toward multi-asset offerings.

Exchange closures add pressure on the sector

Bybit's repositioning comes as several established crypto exchanges are winding down operations. BitMEX ends trading on Wednesday after 11 years, while CoinEx announces a wind-down this month, citing weaker trading volumes and higher compliance costs.

BitMart also announces plans to close in July, though it is now exploring a restructuring that could allow some operations to resume. At the same time, rival Coinbase is expanding under its “Everything Exchange” strategy, adding stocks and prediction markets alongside crypto, highlighting how competitive pressure in the sector is shifting toward broader financial ecosystems.

In our earlier article on PhonePe’s “sachet strategy” in India, we outlined how the platform is pushing financial inclusion by offering small-ticket savings and investment products such as Daily FD, gold/silver, and mutual fund SIPs starting from as little as Rs. 10–100. We also noted PhonePe’s move to widen access through feature phone-based UPI payments and to use transaction history to support small merchant lending and credit-building for first-time borrowers.

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