Bybit Expands Operations With Approval From Kazakhstan’s AFSA

Bybit, a leading cryptocurrency exchange, has recently obtained pre-approval from Kazakhstan’s Astana Financial Services Authority (AFSA) to operate as a digital asset trading facility and provide custody services at the Astana International Financial Centre (AIFC). This announcement comes after Binance, another major player in the crypto industry, secured a permanent license from AFSA in 2022.

Bybit announced its pre-approval from Kazakhstan's Astana Financial ServicesAuthority (AFSA) to operate as a digital asset trading facility and as a custody services provider at theAstana International Financial Centre (AIFC). In 2022, Binance announced that it has obtained a…

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AFSA Pre-Approval

The pre-approval granted by AFSA signifies a significant milestone for Bybit as it expands its operations into the Central Asian market. Kazakhstan has been increasingly embracing the potential of digital assets and blockchain technology, aiming to position itself as a regional hub for fintech innovation.

The Astana International Financial Centre (AIFC) is a prominent financial hub in the region, and Bybit’s approval to operate within its premises further solidifies its reputation as a reliable and compliant platform. By establishing a presence at the AIFC, Bybit will be able to cater to the growing demand for cryptocurrency trading services in Kazakhstan and beyond.

Bybit has gained recognition for its user-friendly interface, advanced trading features, and robust security measures. The exchange offers a wide range of digital assets for trading, including Bitcoin, Ethereum, and various altcoins. With its pre-approval from AFSA, Bybit will now have the opportunity to provide its services to the Kazakhstani market, offering local investors access to a secure and regulated trading environment.

Kazakhstan’s progressive approach towards digital assets is evident in its efforts to establish a favorable regulatory framework. The country has been actively exploring blockchain technology and digital currencies, recognizing their potential to foster economic growth and attract foreign investment. By attracting reputable cryptocurrency exchanges like Bybit and Binance, Kazakhstan aims to position itself as a cryptocurrency-friendly jurisdiction, encouraging innovation and industry development.

Bybit’s pre-approval from AFSA marks a significant step forward for the exchange, allowing it to tap into the growing Kazakhstani market and contribute to the country’s vision of becoming a leading fintech hub in the region. With its robust infrastructure and commitment to regulatory compliance, Bybit is well-positioned to serve the needs of cryptocurrency traders and investors in Kazakhstan and further bolster the adoption of digital assets in the country.