Bybit plans to enter the U.S. market through a partnership with a brokerage, benchmarking against Robinhood

Bybit CEO Ben Zhou stated that Bybit plans to collaborate with local established companies when entering the U.S. market to challenge platforms like Robinhood in market coverage. Zhou mentioned that seeking partners is a standard practice for Bybit when entering new regions, and the U.S. market may consider partnering with companies like Interactive Brokers (IB). He said, "At this stage, it is best to collaborate with partners who wish to enter the crypto space and already have a customer base in the U.S., such as IB or similar companies that have not yet ventured into crypto but have a quality customer base in the U.S."

Bybit is the second largest cryptocurrency exchange in the world by trading volume, with over 80 million registered users in more than 180 countries and regions. The exchange is continuously obtaining licenses globally to offer a range of new regulated products. In Europe, Bybit plans to launch a "super app" covering derivatives and tokenized stocks as early as the first quarter of next year. Through partnerships, Bybit can avoid the cumbersome process of applying for money transfer licenses state by state like Coinbase, which can take two to three years.

Zhou suggested waiting for the Clarity Act to pass or for a clearer understanding of the new laws, at which point the SEC may provide unified regulation, and a single license could cover the federal level. He also pointed out that the U.S. market is highly competitive and becoming saturated, with Coinbase's position solidifying and Robinhood's importance rising. In contrast, the UK remains a less concentrated and underdeveloped market, but the entry costs are high, comparable to the EU's MiCA license. Zhou revealed that earlier this year he was invited to meet with the UK's Financial Conduct Authority (FCA) and relevant institutions in the House of Lords, and Bybit is looking for an office location in London, but a specific location has not yet been determined.