The year 2024 was a landmark for WhiteBIT: the company not only strengthened its position but also became the largest crypto exchange in Europe in terms of platform traffic. More than 33 million people visited it in just one month. In addition, the platform achieved an impressive annual trading volume of $2.7 trillion, confirming WhiteBIT’s leadership in the global crypto market.
Volodymyr Nosov, Founder and CEO of WhiteBIT Group, shares his vision for business success, future trends, and the critical role of digital currency regulation. We also discussed future challenges for the industry, the company’s new products, its expansion to new regions, and the prospects for integrating digital assets into the global economy.
During the fall of 2024, WhiteBIT became the largest European crypto exchange by the number of visits to the platform. How did you achieve this?
Picks for you
October 2024 marked a milestone for WhiteBIT: 33 million visits per month made us the first in Europe and the second in the world in terms of traffic among crypto exchanges. For us, these are not just numbers. It is a testament to the trust our customers place in our platform, as well as an assessment of our technology and security.
Of course, this success is the result of the joint work of our team of more than 1,100 specialists around the world. In just a few years, we have grown from a crypto exchange into a large-scale ecosystem of WhiteBIT Group, which combines advanced solutions in the field of crypto and blockchain technologies. Today, our ecosystem serves more than 30 million customers, offering a range of products: WhiteBIT, a centralized exchange; Whitepay, a crypto acquiring service; WhiteSwap, a decentralized exchange; white.market, a gaming marketplace; gaming projects like Pocket Rocket; and the Whitechain blockchain with its native coin, WhiteBIT Coin (WBT).
We are also actively working on the development of our media business, which includes G.N. News, the news portal, and ByHi, an entertainment and educational YouTube show. This diversity allows us to respond to the needs of different audiences and be not just an exchange but a center of innovation in the crypto space.
Which regions are currently leading in the adoption of digital assets? Which markets have emerged as key for WhiteBIT this year, and why?
Speaking about local markets, South Asia, Eastern Europe, the Middle East, and Latin America show the highest dynamics. The current trend of regulation impacts nearly all continents. At WhiteBIT, we define those markets, where cryptocurrency regulation is actively implemented, as strategic. This is an important factor because the legalization of digital assets will create better conditions for infrastructure development.
We are not only focused on Europe. This year, we also focused on Turkey, Georgia, and Australia. For example, Turkey is currently in the process of legalizing cryptocurrencies, and we will be one of the first players to operate in the updated regulated field. Turkey has great potential in the crypto and blockchain sectors. By the way, in just six months, we have attracted 100,000 new users to the Turkish platform.
As for Australia, a few weeks ago, a new package of legislation was adopted there, and we immediately joined the process. There, we will also be among the first to provide services under the updated regulatory rules.
We always aim to operate where there is demand and the opportunity to create sustainable models of interaction between traditional finance and cryptocurrencies.
What do you plan for 2025? What new markets will WhiteBIT appear in?
At the beginning of the year, we plan to actively develop various product lines in Italy, Croatia, and Kazakhstan. In December, we received a VASP (Virtual Asset Service Provider) license in these countries to deploy our products there, form partnerships, and establish local infrastructure.
But, of course, the US market remains one of our key goals for the next year. It has a huge potential: more than 40 million users, it sets the tone for cryptocurrency regulation in the world, and many global standards are being formed there. We have studied this market and its regulatory features in detail, formed our strategy there, adapted our products to this market, and developed unique solutions for different audiences.
Media is actively discussing the crypto cashback card recently launched by WhiteBIT and VISA. What other interesting products did WhiteBIT launch in 2024?
Yes, the WhiteBIT Nova card has many advantages. We wanted to create a product that would make cryptocurrencies more convenient for everyday use, and judging by user feedback, we succeeded.
At the end of the year, we also launched Auto-Invest functionality to automate the purchase of crypto assets and an innovative feature called QuickSend (instant crypto transfers using a person’s nickname on the exchange). By the way, we have added a unique Shake-to-Send option: just shake your phone next to the recipient, and their nickname will automatically appear in the app. We are the first to implement this feature in the crypto space. In addition, QuickSend works as a financial messenger — you can add messages to transactions and communicate in real-time.
Another important release was our WhitePool mining pool. We managed to launch before the halving and immediately gained a large audience. In October, for example, we set a record: the platform mined 6 blocks in a single day, generating over $1.2 million! We are already developing partnerships and promos around WhitePool, and we have a clear growth strategy.
And, of course, I cannot help but mention the rapid growth of our WBT Coin.In September, the coin was priced at $10, and by December, it had risen to $25—a 2.5x increase in just two months. This organic growth is driven by both market activation and the interest of business clients who see WBT as a promising investment. For example, 2.5 million WBT were purchased in one day, which instantly raised its value by almost 50% — from $11 to $15.
Today, more and more institutional players are interested in cryptocurrencies. What is your strategy for this segment?
We see a steady trend: banks, funds, and large corporations are integrating cryptocurrencies into their portfolios and offering services to their clients. The demand for instruments such as ETFs and cryptocurrency derivatives is only growing. More and more banks are approaching us for cooperation and assistance in integrating blockchain solutions.
Today, we serve more than 1,100 institutional clients. This year, we have significantly expanded the platform’s functionality for this segment, and it immediately yielded results. For example, over the year, our trading volume amounted to $2.7 trillion, and the daily trading volume reached $11 billion in the spot market and $40 billion in the futures market.
One of our latest offerings for institutions is the expansion of our collateral options. We have added 60 new assets, bringing the total number of assets to over 80. Among them are such popular coins as PEPE, SUI, TON, AAVE, and many others. By the way, all these assets can also be deposited with interest.
Another key strength of ours is the platform’s technological capabilities. WhiteBIT can process over 700,000 transactions per second, making it one of the fastest in the industry.
Security has always been one of the key factors in the cryptocurrency industry. How does WhiteBIT ensure user protection?
Security is our absolute priority. We understand that trust in a cryptocurrency platform begins with the reliable protection of user data and assets.
WhiteBIT became the first crypto exchange in the world to receive the highest level of certification under the Cryptocurrency Security Standard (CCSS). This is a unique security standard that covers all aspects of the exchange’s operation, from the protection of user assets to internal procedures and protocols.
We are also certified by the Payment Card Industry Data Security Standard (PCI DSS), which guarantees the highest level of payment data protection. This is especially important for products related to fiat transactions.
In addition, we received an award from Hacken for our achievements in cybersecurity. This is another confirmation that our efforts and investments in platform security are paying off.
We continue to work to ensure that WhiteBIT remains one of the most secure platforms in the world and improve our systems and processes every day.
The year 2025 promises to be a turning point for the crypto industry in many ways. What trends do you think businesses and users should pay attention to in the new year?
Mass legalization and regulation of cryptocurrencies will be one of the important areas that will determine the market’s development next year. More and more countries will adopt clear legislative frameworks that will give an even greater impulse to the global scaling of the crypto ecosystem.
Decentralized finance will be further integrated with traditional banking systems, offering new opportunities for lending and insurance. Digital assets, in turn, will become increasingly integrated into the real economy. Businesses are already accepting them as the means of payment, and blockchain is being used in various industries, from logistics to energy.
Of course, artificial intelligence will continue to develop the industry, and GameFi and metaverse will become one of the key trends.
I think 2025 will see a synergy of innovation and regulation. Their reasonable balance will create a mature ecosystem that will attract more users and continue to grow.
Read more interviews here.
