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Bybit, Asia’s financial hub, announced that it has applied for a license to operate officially in Hong Kong. The exchange’s move is seen as part of the company’s strategy to expand its presence in the Asia-Pacific region.
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The licensing process, which is overseen by the Hong Kong Securities and Futures Commission (SFC), reveals that Bybit applied on Wednesday under the name Spark Fintech Limited. According to information posted on the SFC’s website, 14 cryptocurrency-focused firms, including Bybit, are on the list of current license applications being considered by the regulator, such as OKX, which applied on November 16.
According to a statement by the cryptocurrency exchange, obtaining a Virtual Asset Trading Platform (VATP) license in Hong Kong is critical for the company to strengthen its operations and institutional customer relationships in the region. Hong Kong’s strategic location and advanced financial infrastructure make it an ideal hub for Bybit to serve its Asia-Pacific operations.
Bybit Exchange Commission Discount Registration Link