Singapore-based cryptocurrency exchange Bybit has launched a new spot trading platform as a complement to its core derivatives offering.
- The platform opened at 6:00 UTC July 15 with four trading pairs: BTC/USDT, ETH/USDT, XRP/USDT, and EOS/USDT.
- More trading pairs are to follow shortly, according to an emailed announcement.
- Bybit determines spot trading as "a complementary vector" to its derivatives offering for hedging traders.
- Bybit has faced a trying few months in the face of regulators, having cut off its service to U.K. customers in March following the Financial Conduct Authority's ban on crypto derivatives.
- This was followed in June by an accusation from the Ontario Securities Commission that Bybit was operating an unregistered crypto asset trading platform that encouraged customers to trade crypto assets that are securities and derivatives on its platform.
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