Ben Zhou, co-founder and CEO of Bybit, stated to Cointelegraph on Thursday that the era of 'pure cryptocurrency exchanges' is ending as customers seek to access stocks, gold, and payment services alongside digital assets. He noted, 'People trading cryptocurrencies also want stocks, gold, forex, indices, and derivatives; they want to complete payments, savings, and wealth appreciation on the same platform.' He emphasized that the next generation of financial platforms will not be built around a single asset class. This statement coincides with Bybit's launch of a global branding campaign called 'Make Your Move,' positioning the exchange as a broader financial platform. Bybit has previously offered derivatives linked to stocks, gold, and indices, as well as forex products, which provide price exposure without ownership of the underlying assets. This repositioning by Bybit comes as several established cryptocurrency exchanges exit the market. BitMEX ended trading on Wednesday after 11 years of operation, CoinEx announced a phased shutdown this month due to declining trading volumes and rising compliance costs, and BitMart previously announced closure plans in July and is currently exploring restructuring to restore some operations. Competitor Coinbase is expanding its services under the 'Everything Exchange' strategy, adding stocks and prediction markets beyond cryptocurrencies.
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Bybit CEO: The Era of Pure Cryptocurrency Exchanges is Coming to an End
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