Bybit has unexpectedly opened registration and crypto services for Chinese nationals residing overseas, expanding its services to a wider audience.
In a strategic expansion, Bybit, one of the leading cryptocurrency exchanges, has opened registration and trading services for Chinese nationals residing overseas, Cointelegraph reported. This decision reflects Bybit's commitment to broadening its user base and providing comprehensive trading services to the Chinese diaspora.
Founded in 2018, Bybit has quickly grown to become one of the top three cryptocurrency exchanges by trading volume. The platform's decision to open up registration for overseas Chinese nationals addresses a significant demand for reliable and user-friendly crypto trading solutions among this community.
Bybit clients confirmed on X that the exchange allowed Chinese nationals living abroad to register and trade crypto.
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The announcement comes amid increasing scrutiny of cryptocurrency activities within China. Since 2017, China has prohibited cryptocurrency exchanges from operating within its borders, prompting many firms to relocate overseas. In 2021, the government also intensified its crackdown on miners.
At the same time, by engaging the Chinese community, Bybit aims to strengthen its position as a leading global cryptocurrency exchange. This expanded reach is in line with Bybit's broader strategy to establish a presence in key global markets, including plans to operate in regions such as Hong Kong, the United Arab Emirates and the European Union.
See also: Binance reintegrates Mastercard for crypto purchases
