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Cision Canada
14 hours ago
- Business
- Cision Canada
Bybit's Ben Zhou Charts Bold New Course to Rewrite Crypto Success at Mid-Year Keynote
DUBAI, UAE, Aug. 6, 2025 /CNW/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, has unveiled its bold roadmap for the future of crypto, setting the tone for a new era of innovation, security, and trading excellence. In the highly anticipated " Keynote with Ben: Reshaping What's Next, Bit by Bit," CEO and Co-founder Ben Zhou delivered a forward-looking vision grounded in real-world adoption, institutional-grade innovation, and deep ecosystem alignment. Celebrating over six years of service, 74 million users, and a milestone where 1 in 8 crypto enthusiasts globally have chosen Bybit, CEO and Co-founder Ben Zhou reaffirmed the exchange's mission: Rewrite Your Success. Reshape The Standard. "Crypto is no longer just about speculation — it's about real world application. At Bybit, we're not just trading the future; we're rewriting and reshaping what success looks like, bit by bit," said Zhou. Compliance as a Foundation for the Future Bybit opened the keynote with a reaffirmation of its compliance-first approach — a critical pillar as the industry matures. Now fully compliant with the EU's Markets in Crypto-Assets Regulation (MiCAR) framework and securing FIU-India registration in the first half of 2025, Bybit emphasized compliance not as a barrier but as an enabler. Zhou emphasized that "sustainability in crypto begins with trust and transparency," and positioned compliance not as a constraint, but as a catalyst for long-term growth. Rewriting the Industry Security Standard Bybit has also successfully rewritten the industry standard for security following a sophisticated multi-stage attack on one of its vendors in February — the largest known hack in crypto history. While Bybit's own infrastructure remained uncompromised, the company acted swiftly in response. Within weeks, it completed nine extensive security audits — conducted by both internal and independent experts — and implemented over 50 enhanced safeguards. The response drew industry-wide praise and global recognition for its transparency, resilience, and user-first approach. Today, Bybit's security overhaul is regarded as a new benchmark in platform integrity. Trading Excellence Backed by Infrastructure Upgrades Bybit continues to lead in performance and reliability. Its upgraded matching engine now handles 3.5 million transactions per second, processing nearly 200 billion daily orders — a 75% year-over-year increase in the first half of 2025. By extending its Rapid Price Improvement (RPI) mechanism to perpetual contracts, Bybit has delivered 150% higher liquidity and up to 5x better execution across retail and VIP accounts, firmly establishing itself as the go-to destination for professional trading. Setting a New Height in Crypto Wealth Management As institutional and high-net-worth adoption increases, Bybit is reshaping what wealth preservation means in the digital age. Its newly launched wealth management platform has already surpassed $150 million in AUM, offering curated portfolios and strategic services tailored to sophisticated investors — all underpinned by Bybit's trading depth and robust security infrastructure. Redefining Real-World Utility: Bybit Card and Payments Another highlight was the new edition of the Bybit Card — now positioned as a crypto-native business card that integrates seamlessly into both corporate and consumer spending. With support for Visa and Mastercard networks, smart security features, and real-time expense tracking, the card bridges the gap between digital assets and daily transactions. Bybit Card is expected to expand into the EU region in August, with Peru and Colombia lined up for Q4. Bybit's payments infrastructure has also made major strides. Native support for nationwide QR payments in Southeast Asia and LATAM has driven a 719% quarter-over-quarter increase in usage. With over two million users and cross-sector partnerships with local services like Rappi and Vivaticket, Bybit is moving closer to making crypto as usable as "cash". Introducing Bybit Lite to Earn, Manage, and Trade Zhou unveiled the upgraded Bybit App — a unified platform that streamlines both active trading and passive income generation. Bybit Lite is a new upgraded version for casual users and a reimagined Earn section, offering personalized strategies and simplified ways to activate idle capital. A Key Partner of Mantle 2.0 A major announcement was Bybit's deepened strategic alignment with Mantle This partnership sets the stage for what Zhou called "a bold new chapter in institutional-grade on-chain finance." The launch of Mantle 2.0 comes with renewed leadership and tighter ecosystem integration — including Helen Liu, Co-CEO and Partner of Bybit and Emily Bao, Head of Spot and Web3 at Bybit stepping in as key advisors. Together, Bybit, as one of Mantle's ecosystem partners, will accelerate the development of decentralized finance by aligning infrastructure, liquidity, and governance. The collaboration aims to set new standards for scalability and compliance, while tapping into the growing demand for trust-driven DeFi solutions. Reshaping the Standard With this keynote, Bybit signaled more than just platform growth — it marked a shift in how the industry defines success. Zhou's message was clear: The next era of crypto will be shaped by platforms that offer trust, usability, and true innovation. "We believe crypto should be usable, secure, and powerful enough to serve everyone — from first-time users to institutional investors," Zhou said. "Together with our community, we are rewriting the rules and reshaping the space for good." Watch the full keynote replay here. #Bybit / #TheCryptoArk About Bybit Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at
Time of India
4 days ago
- Business
- Time of India
Trump push drives stablecoin urgency in Asian financial hubs
. . . 1 2 Asian markets are hurriedly updating their stablecoin rules as President Donald Trump's embrace of US dollar-pegged cryptocurrencies instils a fresh sense of urgency among the region's authorities. Recent developments in South Korea, Hong Kong, Malaysia, Thailand and the Philippines point to a proliferation of stablecoins pegged to Asian currencies - even as authorities raise concerns about capital outflows. Regional heavyweights like and Ant Group plan to capitalise by applying to become issuers. Shares in Kakaopay ballooned on expectations that it would do the same. Even China, which has for years imposed a sweeping crypto ban, appears to be warming to the notion of tokens that serve as yuan surrogates. It all stems from the US, where lawmakers recently passed legislation that will promote wider use of digital tokens that seek to maintain a 1:1 peg with the dollar. The White House earmarked dollar stablecoins as a priority in a Jan executive order, days after Trump's inauguration. "The Genius Act has opened the floodgates for stablecoin adoption," said Benjamin Grolimund, general manager for the UAE at crypto exchange Flipster. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15+ Food That Clean Arteries (Most People Ignore) Undo "Whether you support it or not, stablecoins are now unavoidable." Overhanging Asia's flurry of activity is the fear of capital flight. The dollar reigns supreme in today's stablecoin market, with $256 billion in tokens pegged to the greenback. These maintain their price by managing reserves of cash-like assets, such as US Treasuries. By contrast, there's just $403 million of euro-backed stablecoins in circulation, despite a well established regulatory framework covering such products in the form of the Markets in Crypto-Assets Regulation regime. The crypto-curious nation of South Korea offers a case-in-point. Koreans are already piling into dollar-pegged stablecoins. Transactions involving USDT, USDC and USDS - three of the largest dollar proxies - on five domestic exchanges reached 57 trillion won ($41 billion) in the first quarter, Yonhap News reported, citing Bank of Korea. While China's next steps are far from certain, crypto firms including brokers are already preparing for the prospect of yuan-pegged stablecoins. Kennix Chan, VP at Victory Securities, said the firm is in active talks with a range of would-be issuers in Hong Kong. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
Economic Times
5 days ago
- Business
- Economic Times
Trump momentum drives stablecoin urgency in Asian financial hubs
Asian markets are hurriedly updating their stablecoin rules as President Donald Trump's embrace of US dollar-pegged cryptocurrencies instills a fresh sense of urgency among the region's authorities. ADVERTISEMENT Recent developments in South Korea, Hong Kong, Malaysia, Thailand and the Philippines point to a proliferation of stablecoins pegged to Asian currencies — even as authorities raise concerns about capital outflows. Regional heavyweights including and Ant Group plan to capitalize by applying to become issuers. Shares in Kakaopay Corp. ballooned on expectations that it would do the same. Even China, which has for years imposed a sweeping crypto ban, appears to be warming to the notion of tokens that serve as yuan surrogates. It all stems from the US, where lawmakers recently passed legislation that will promote wider use of digital tokens that seek to maintain a 1:1 peg with the dollar. The White House earmarked dollar stablecoins as a priority in a January executive order, days after Trump's inauguration. 'The Genius Act has opened the floodgates for stablecoin adoption,' said Benjamin Grolimund, General Manager for the UAE at crypto exchange Flipster. 'Whether you support it or not, stablecoins are now unavoidable.' ADVERTISEMENT Overhanging Asia's flurry of activity is the fear of capital flight. The dollar reigns supreme in today's stablecoin market, with $256 billion in tokens pegged to the greenback. These maintain their price by managing reserves of cash-like assets, such as US Treasuries. By contrast, there's just $403 million of euro-backed stablecoins in circulation, despite a well established regulatory framework covering such products in the form of the Markets in Crypto-Assets Regulation are already trading piling into dollar-pegged stablecoins. Transactions involving USDT, USDC and USDS — three of the largest dollar proxies — on five domestic exchanges reached 57 trillion won ($41 billion) in the first quarter, Yonhap News reported, citing Bank of Korea data. ADVERTISEMENT Local lawmakers in recent weeks clashed with the central bank over whether to allow Korean companies to issue won-based stablecoins. President Lee Jae Myung's ruling Democratic Party on June 10 proposed the Digital Asset Basic Act, creating a pathway for local firms to become weeks later, Ryoo Sangdai, Senior Deputy Governor at the Bank of Korea, warned that stablecoins may shift the country's longstanding policy stance on capital liberalization and the won's internationalization. Central bank Governor Rhee Chang Yong went further, arguing that non-bank stablecoins would 'cause big chaos like in the 19th century,' when currencies issued by the private sector flooded the market. ADVERTISEMENT 'Local stablecoins, while offering regulatory visibility at the point of issuance, carry the risk of becoming efficient bridges to global markets through seamless crypto-to-crypto swaps on decentralised exchanges,' said John Park, head of Korea at Arbitrum central banks need to find ways to channel the momentum, rather than fighting it, Park said. Regulatory frameworks should aim to preserve sovereignty while staying competitive, he added. ADVERTISEMENT For digital-asset trading firms, a more diverse stablecoin market is a no-brainer.'Capital controls are a challenge,' said Yoann Turpin, co-founder of crypto market maker Wintermute. 'But stablecoins could provide a vetted, more efficient on-chain system.' Such a setup could streamline arbitrage trades across venues or between markets without the constraint of foreign exchange market hours, said Le Shi, Hong Kong managing director at market making firm Auros. 'There's a real use case for local currency stablecoins — particularly for enabling weekend liquidity and smoother capital movement.' Another possibility is that the growth of local stablecoins could enliven crypto economies in Asia. In South Korea, an estimated 18 million people, over a third of the country's population, are engaged in digital assets. Sam Seo, chairman of the Kaia DLT Foundation, said a won-backed stablecoin would serve different needs than US dollar alternatives.'In the short term, swaps between the won and USDT will dominate. But longer term, we'll need stablecoins from other countries to support direct pairings and faster settlement,' Seo Kong, meanwhile, has quickly become the region's stablecoin laboratory. The Hong Kong Monetary Authority is particularly focused on 'viable and practical use cases,' not just capital buffers, Clara Chiu, founder of QReg Advisory said. Many of the issuers that have taken an interest in yuan-backed stablecoins are trading and payment firms that are already using the yuan in cross-border settlement. 'That's where the practical demand lies,' Chiu added. While China's next steps are far from certain, crypto firms including brokers are already preparing for the prospect of yuan-pegged stablecoins. Kennix Chan, vice president at Victory Securities, said the firm is in active talks with a range of would-be issuers in Hong firm's affiliate, VDX, is close to securing a license to operate a digital-asset exchange, according to Chan, allowing it to offer new trading pairs — such as Bitcoin against stablecoins pegged to the Hong Kong dollar — and eventually yuan-backed equivalents. 'When a yuan-stablecoin is born, the market will definitely be exponentially bigger,' Chan its blanket crypto trading ban, China appears to be warming to blockchain as a financial tool. People's Bank of China Governor Pan Gongsheng said in June that stablecoins could revolutionize international finance, as rising geopolitical tensions highlight the fragility of traditional payment systems.A recent licensing upgrade granted for a major Chinese state-owned brokerage to deal in digital assets through Hong Kong has also stirred optimism among Chinese players. 'It gave hope that there's a way,' Chiu said. Still, few expect Beijing to open its doors to crypto trading anytime soon. Lily King, chief operating officer at digital-asset custodian Cobo, said Hong Kong will continue to serve as a testing ground for Chinese enterprises looking to build overseas. 'China may not feel the need to open itself,' she added. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
5 days ago
- Business
- Time of India
Trump momentum drives stablecoin urgency in Asian financial hubs
Bloomberg Live Events The crypto-curious nation of South Korea offers a case-in-point. Streamlined Trading Mainland Interest (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Asian markets are hurriedly updating their stablecoin rules as President Donald Trump's embrace of US dollar-pegged cryptocurrencies instills a fresh sense of urgency among the region's developments in South Korea, Hong Kong, Malaysia, Thailand and the Philippines point to a proliferation of stablecoins pegged to Asian currencies — even as authorities raise concerns about capital heavyweights including and Ant Group plan to capitalize by applying to become issuers. Shares in Kakaopay Corp. ballooned on expectations that it would do the same. Even China, which has for years imposed a sweeping crypto ban, appears to be warming to the notion of tokens that serve as yuan all stems from the US, where lawmakers recently passed legislation that will promote wider use of digital tokens that seek to maintain a 1:1 peg with the dollar. The White House earmarked dollar stablecoins as a priority in a January executive order, days after Trump's inauguration.'The Genius Act has opened the floodgates for stablecoin adoption,' said Benjamin Grolimund, General Manager for the UAE at crypto exchange Flipster. 'Whether you support it or not, stablecoins are now unavoidable.'Overhanging Asia's flurry of activity is the fear of capital flight. The dollar reigns supreme in today's stablecoin market, with $256 billion in tokens pegged to the greenback. These maintain their price by managing reserves of cash-like assets, such as US Treasuries. By contrast, there's just $403 million of euro-backed stablecoins in circulation, despite a well established regulatory framework covering such products in the form of the Markets in Crypto-Assets Regulation are already trading piling into dollar-pegged stablecoins. Transactions involving USDT, USDC and USDS — three of the largest dollar proxies — on five domestic exchanges reached 57 trillion won ($41 billion) in the first quarter, Yonhap News reported, citing Bank of Korea lawmakers in recent weeks clashed with the central bank over whether to allow Korean companies to issue won-based stablecoins. President Lee Jae Myung's ruling Democratic Party on June 10 proposed the Digital Asset Basic Act, creating a pathway for local firms to become weeks later, Ryoo Sangdai, Senior Deputy Governor at the Bank of Korea, warned that stablecoins may shift the country's longstanding policy stance on capital liberalization and the won's internationalization. Central bank Governor Rhee Chang Yong went further, arguing that non-bank stablecoins would 'cause big chaos like in the 19th century,' when currencies issued by the private sector flooded the market.'Local stablecoins, while offering regulatory visibility at the point of issuance, carry the risk of becoming efficient bridges to global markets through seamless crypto-to-crypto swaps on decentralised exchanges,' said John Park, head of Korea at Arbitrum central banks need to find ways to channel the momentum, rather than fighting it, Park said. Regulatory frameworks should aim to preserve sovereignty while staying competitive, he digital-asset trading firms, a more diverse stablecoin market is a no-brainer.'Capital controls are a challenge,' said Yoann Turpin, co-founder of crypto market maker Wintermute. 'But stablecoins could provide a vetted, more efficient on-chain system.'Such a setup could streamline arbitrage trades across venues or between markets without the constraint of foreign exchange market hours, said Le Shi, Hong Kong managing director at market making firm Auros. 'There's a real use case for local currency stablecoins — particularly for enabling weekend liquidity and smoother capital movement.'Another possibility is that the growth of local stablecoins could enliven crypto economies in Asia. In South Korea, an estimated 18 million people, over a third of the country's population, are engaged in digital assets. Sam Seo, chairman of the Kaia DLT Foundation, said a won-backed stablecoin would serve different needs than US dollar alternatives.'In the short term, swaps between the won and USDT will dominate. But longer term, we'll need stablecoins from other countries to support direct pairings and faster settlement,' Seo Kong, meanwhile, has quickly become the region's stablecoin laboratory. The Hong Kong Monetary Authority is particularly focused on 'viable and practical use cases,' not just capital buffers, Clara Chiu, founder of QReg Advisory said. Many of the issuers that have taken an interest in yuan-backed stablecoins are trading and payment firms that are already using the yuan in cross-border settlement. 'That's where the practical demand lies,' Chiu China's next steps are far from certain, crypto firms including brokers are already preparing for the prospect of yuan-pegged stablecoins. Kennix Chan, vice president at Victory Securities, said the firm is in active talks with a range of would-be issuers in Hong firm's affiliate, VDX, is close to securing a license to operate a digital-asset exchange, according to Chan, allowing it to offer new trading pairs — such as Bitcoin against stablecoins pegged to the Hong Kong dollar — and eventually yuan-backed equivalents. 'When a yuan-stablecoin is born, the market will definitely be exponentially bigger,' Chan its blanket crypto trading ban, China appears to be warming to blockchain as a financial tool. People's Bank of China Governor Pan Gongsheng said in June that stablecoins could revolutionize international finance, as rising geopolitical tensions highlight the fragility of traditional payment systems.A recent licensing upgrade granted for a major Chinese state-owned brokerage to deal in digital assets through Hong Kong has also stirred optimism among Chinese players. 'It gave hope that there's a way,' Chiu few expect Beijing to open its doors to crypto trading anytime soon. Lily King, chief operating officer at digital-asset custodian Cobo, said Hong Kong will continue to serve as a testing ground for Chinese enterprises looking to build overseas. 'China may not feel the need to open itself,' she added.
Business Times
5 days ago
- Business
- Business Times
Trump momentum drives stablecoin urgency in Asian financial hubs
[MUMBAI] Asian markets are hurriedly updating their stablecoin rules as US President Donald Trump's embrace of US dollar-pegged cryptocurrencies instils a fresh sense of urgency among the region's authorities. Recent developments in South Korea, Hong Kong, Malaysia, Thailand and the Philippines point to a proliferation of stablecoins pegged to Asian currencies, even as authorities raise concerns about capital outflows. Regional heavyweights including and Ant Group plan to capitalise by applying to become issuers. Shares in Kakaopay ballooned on expectations that it would do the same. Even China, which has for years imposed a sweeping crypto ban, appears to be warming to the notion of tokens that serve as yuan surrogates. It all stems from the US, where lawmakers recently passed legislation that will promote wider use of digital tokens that seek to maintain a 1:1 peg with the US dollar. The White House earmarked US dollar stablecoins as a priority in a January executive order, days after Trump's inauguration. 'The Genius Act has opened the floodgates for stablecoin adoption,' said Benjamin Grolimund, General Manager for the UAE at crypto exchange Flipster. 'Whether you support it or not, stablecoins are now unavoidable.' Overhanging Asia's flurry of activity is the fear of capital flight. The US dollar reigns supreme in today's stablecoin market, with US$256 billion in tokens pegged to the greenback. These maintain their price by managing reserves of cash-like assets, such as US Treasuries. By contrast, there's just US$403 million of euro-backed stablecoins in circulation, despite a well established regulatory framework covering such products in the form of the Markets in Crypto-Assets Regulation regime. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up The crypto-curious nation of South Korea offers a case in point. South Koreans are already trading piling into dollar-pegged stablecoins. Transactions involving USDT, USDC and USDS, three of the largest US dollar proxies, on five domestic exchanges reached 57 trillion won (S$53 billion) in the first quarter, Yonhap News reported, citing Bank of Korea data. Local lawmakers in recent weeks clashed with the central bank over whether to allow Korean companies to issue won-based stablecoins. President Lee Jae-myung's ruling Democratic Party on Jun 10 proposed the Digital Asset Basic Act, creating a pathway for local firms to become issuers. Two weeks later, Ryoo Sangdai, senior deputy governor at the Bank of Korea, warned that stablecoins may shift the country's longstanding policy stance on capital liberalisation and the won's internationalisation. Central bank governor Rhee Chang Yong went further, arguing that non-bank stablecoins would 'cause big chaos like in the 19th century', when currencies issued by the private sector flooded the market. 'Local stablecoins, while offering regulatory visibility at the point of issuance, carry the risk of becoming efficient bridges to global markets through seamless crypto-to-crypto swaps on decentralised exchanges,' said John Park, head of Korea at Arbitrum Foundation. Asian central banks need to find ways to channel the momentum, rather than fighting it, Park said. Regulatory frameworks should aim to preserve sovereignty while staying competitive, he added. Streamlined trading For digital-asset trading firms, a more diverse stablecoin market is a no-brainer. 'Capital controls are a challenge,' said Yoann Turpin, co-founder of crypto market maker Wintermute. 'But stablecoins could provide a vetted, more efficient on-chain system.' Such a setup could streamline arbitrage trades across venues or between markets without the constraint of foreign exchange market hours, said Le Shi, Hong Kong managing director at market making firm Auros. 'There's a real use case for local currency stablecoins, particularly for enabling weekend liquidity and smoother capital movement.' Another possibility is that the growth of local stablecoins could enliven crypto economies in Asia. In South Korea, an estimated 18 million people, over a third of the country's population, are engaged in digital assets. Sam Seo, chairman of the Kaia DLT Foundation, said a won-backed stablecoin would serve different needs than US dollar alternatives. 'In the short term, swaps between the won and USDT will dominate. But longer term, we will need stablecoins from other countries to support direct pairings and faster settlement,' Seo said. Hong Kong, meanwhile, has quickly become the region's stablecoin laboratory. The Hong Kong Monetary Authority is particularly focused on 'viable and practical use cases', not just capital buffers, Clara Chiu, founder of QReg Advisory, said. Many of the issuers that have taken an interest in yuan-backed stablecoins are trading and payment firms that are already using the yuan in cross-border settlement. 'That's where the practical demand lies,' Chiu added. Mainland interest While China's next steps are far from certain, crypto firms including brokers are already preparing for the prospect of yuan-pegged stablecoins. Kennix Chan, vice-president at Victory Securities, said the firm is in active talks with a range of would-be issuers in Hong Kong. The firm's affiliate, VDX, is close to securing a license to operate a digital-asset exchange, according to Chan, allowing it to offer new trading pairs – such as Bitcoin against stablecoins pegged to the Hong Kong dollar – and eventually yuan-backed equivalents. 'When a yuan-stablecoin is born, the market will definitely be exponentially bigger,' Chan said. Despite its blanket crypto trading ban, China appears to be warming to blockchain as a financial tool. People's Bank of China governor Pan Gongsheng said in June that stablecoins could revolutionise international finance, as rising geopolitical tensions highlight the fragility of traditional payment systems. A recent licensing upgrade granted for a major Chinese state-owned brokerage to deal in digital assets through Hong Kong has also stirred optimism among Chinese players. 'It gave hope that there's a way,' Chiu said. Still, few expect Beijing to open its doors to crypto trading anytime soon. Lily King, chief operating officer at digital-asset custodian Cobo, said that Hong Kong will continue to serve as a testing ground for Chinese enterprises looking to build overseas. 'China may not feel the need to open itself,' she added. BLOOMBERG
