Bybit, a cryptocurrency derivatives exchange, has been issued an ‘in-principle’ license by the regulators in Kazakhstan, according to a press release shared
with Finance Magnates on Monday.
The license, issued by
Astana Financial Services Authority (AFSA), allows Bybit to run a digital asset trading facility and to offer custody services at the Astana International Financial Centre
(AIFC), which is a financial hub based in Astana. According to the press release, the
approval subjects the exchange to pre-conditions that will lead to permanent
authorization once the full license application process is complete.
”We are delighted to
receive an in-principle approval from AFSA,” Bybit CEO and Co-Founder Ben Zhou said, adding that ”we believe in the promising potential of the Commonwealth of Independent States (CIS) and are eager to open up our world-class
trading platform from crypto enthusiasts in the region.”
CIS, a regional intergovernmental organization formed
after the collapse of the Soviet Union, resents a vibrant
market for the adoption of digital assets and is a promising hub for cryptocurrencies,
mining, and blockchain
