In a recent report, the leading crypto exchange in Singapore, Bybit, revealed plans to expand to the Netherlands amid the heightened regulatory scrutiny in Hong Kong. The Bybit team confirmed that the crypto exchange will establish a digital trading platform, Bybit.nl, targeting Netherlands retail and institutional clients.
The decision to expand its footprint in the Netherlands stemmed from the growing demand for digital assets in the region. The exciting adoption of crypto assets in the Netherlands has attracted the attention of fast-paced crypto exchanges.
Bybit Expands to the Netherlands
Besides the increased adoption of crypto assets, the Netherlands investors have embraced unique trading techniques. With the convergence of artificial intelligence and crypto, the Netherlands investors are leveraging AI trading bots to tap into viable opportunities.
The growing popularity of AI trading bots, such as the AI Definity 1000 Platform in the Netherlands, has enabled investors to make data-driven decisions and take strategic advantage over other traders.
With the changes in the crypto sector, the Bybit team plans to equip the Netherlands traders with fundamental trading skills.
Firstly, the newly launched trading platform will offer the traders relevant educational materials that will unveil significant insights into the behavior of the crypto market.
Bybit Partners with Satos
Also, Bybit.nl will allow the Dutch investor to access the crypto trading platform more effortlessly. To ensure that Bybit.nl attains the intended purpose, the crypto exchange will work closely with the Netherlands-based Bitcoin company Santos.
The partnership between Satos and Bybit.nl aims to allow Dutch users to access depository and withdrawal services using the local currency. Also the new trading platform allows the user to trade with over 300 trading pairs.
An announcement conveyed by the chief executive of Bybit Ben Zhou stated that the company’s expansion to the Netherlands demonstrated the exchange’s commitment to upholding compliance.
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Netherlands Adopts New Crypto Rules
The official believes the partnership allows the Bybit team to offer a secure and seamless trading experience. The CEO anticipates that the Bybit team will implement adequate security measures to ensure the customers’ funds are safe.
The executive confirmed that the Bybit.nl team has completed the regulatory requirements and will operate as a regulated entity. The partnership with Satos allows Bybit to offer secure and reliable service to the user.
In February, the Bybit team confirmed plans to sunset derivatives services in the country to comply with the new directives.
At that time, the central bank of the Netherlands had leveled a new rule for digital assets. On X, the head of communication at Cryptotag’s Indy Rottier confirmed that the new regulations will take effect on March 5.
Apart from Bybit, Rottier confessed that Binance and Gemini were forced to suspend operations to comply with the existing rules