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Key takeaways from Bybit’s CryptoArk Keynote address

Key takeaways from Bybit's CryptoArk Keynote address

Bybit co-founder and CEO Ben Zhou announced The CryptoArk Keynote address on January 10, in which he showcased the company’s accomplishments and future plans, highlighting its commitment to advancing the digital asset industry.

In the address, Zhou outlined Bybit’s most important achievements, including reaching over 20 million users, launching 93 new products, and supporting 96 chains for deposits and withdrawals, as well as becoming the third-largest derivatives exchange. 

The company also solidified its global presence with expansions in the UAE, South Africa, and the Netherlands.

The keynote emphasized Bybit’s focus on enhancing user experience and platform stability. Zhou said Bybit saw a threefold increase in transaction volume capacity and maintained an uptime of 99% despite market volatility. Bybit’s CEO said the crypto exchange’s goal is to handle 1 million transactions per second by 2024. 

Bybit’s new feature launches in 2023

One of the focus areas for the cryptocurrency firm last year was user-friendly trading environments, which Bybit demonstrated through improvements such as the Unified Trading Account, featuring new capabilities like Perp Protect and customizable collateral assets.

When it comes to institutional services, Zhao pointed out that Bybit witnessed an 182% growth in institutional partnerships. The company focused on integrating spot trading into portfolio margin in a bid to enhance capital efficiency for clients’ trading strategies. In the meantime, the exchange also introduced new trading features such as Copy Trading, AI-powered tools, as well as new structured and wealth management products.

“Our journey is just beginning. We’re not just building an exchange; we’re building a gateway to crypto and Web3 space. Our plans for 2024 and beyond are bold, aimed at fostering simplicity, openness, and equality in the decentralized realm.”

– Zhou said.

Looking forward, Bybit said in the address that the crypto community can anticipate further innovations and inclusive experiences in 2024 as it strives to solidify its position in the industry.

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