Bybit Expands Crypto Trading in South Africa with New Derivatives Products and Fiat On-Ramp Service
DUBAI, UNITED ARAB EMIRATES, 3 October 2023 -/African Media Agency(AMA)/- Bybit, the world’s third most visited crypto exchange, has announced the official launch of its cryptocurrency derivatives products in South Africa, along with the introduction of a new fiat on-ramp service. Bybit will market this offering in South Africa as the juristic representative of Money Doc (Proprietary) Limited, an authorised financial services provider (FSP no. 52081), registered under South African company number 2019/466808/07.
In addition to the compliant marketing of its offshore derivatives trading products, Bybit is introducing a new fiat on-ramp service for the South African Rand (ZAR). This feature enables users to conveniently deposit Rands via bank transfer (EFT), including the instant transfer option, providing them with effortless and low-cost access to buying and selling cryptocurrencies. This enhancement will greatly allow South African cryptocurrency traders and users to take advantage of Bybit’s market-leading liquidity and trading tools in a compliant manner.
Joshua Yau, Bybit’s Regional Manager for Africa, expressed enthusiasm about the expansion, stating, “This marks a significant milestone for Bybit as we bring access to global leading products to the passionate crypto community in South Africa in line with regulatory requirements. This marks an important step in our compliance efforts. We are committed to providing a secure and seamless trading experience, industry-leading trading tools, and low-cost access that empower our users.”
Ben Zhou, Co-founder and CEO of Bybit, shared his thoughts on this strategic move: “Our expansion into South Africa reaffirms Bybit’s mission to make cryptocurrency trading accessible to all
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