Bybit Exchange Launches Crypto Derivatives Products in South Africa
Bybit Crypto Exchange announced the launch of its crypto derivatives products on October 2 in South Africa through Money Doc, which will represent the exchange as the "juristic representative." The local on-ramp service of the exchange enables South African users to make deposits in local currency via bank transfers.
Bybit Expands into South Africa Through Money Doc (Proprietary) Limited
Bybit, the UAE-based crypto exchange, has officially launched its crypto derivative products and a convenient fiat on-ramp service in South Africa on October 2. These services are made possible through Money Doc (Proprietary) Limited, which represents Bybit's official "juristic representative."
Money Doc, an authorized financial services provider and a registered South African company, ensures compliance with regulatory standards, a crucial aspect of crypto asset service providers operating in South Africa. This development underscores Bybit's commitment to providing a secure and seamless trading experience while empowering users with access to industry-leading trading tools and low-cost trading opportunities.
With Bybit's new on-ramp service, South African users can easily deposit the rand currency (ZAR) through bank transfers, simplifying the process of entering the world of crypto trading. Joshua Yau, the regional manager for Africa at Bybit, expressed the significance of this expansion into the South African market, stating:
"This marks a significant milestone for Bybit as we bring access to globally 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 empowers our users."
Bybit's Innovative Approach: Crypto Trading Accessible to All
Ben Zhou, the founder and CEO of Bybit, views this venture into South Africa as a testament to the exchange's dedication to making crypto trading accessible to all. Bybit's innovative solutions are set to simplify crypto trading for a wide range of users, from seasoned enthusiasts to newcomers.
With this expansion, Bybit is bridging the gap for South African cryptocurrency enthusiasts, offering them easy access to a world of trading possibilities.
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