Bybit has relaunched its UK market, with over 100 cryptocurrency trading pairs now available with support from Archax.
TL;DR
Bybit has relaunched in the UK after a two-year absence, offering over 100 cryptocurrency trading pairs. It operates with support from Archax, which holds a license allowing unauthorized firms to market services in the UK.
Tags
According to Foresight News , citing CoinDesk, Bybit has announced its return to the UK market after being forced to withdraw for two years due to stricter regulations on the promotion and marketing of cryptocurrency services. The company stated that it has approximately 80 million users globally and relaunched its UK services on Thursday, including spot trading for 100 currency pairs.
Bybit itself is not licensed in the UK, and the company states that it is "operating within a framework designed to meet FCA financial promotion standards and increase transparency for UK users." The exchange will operate and promote its services with the backing of London-based cryptocurrency exchange Archax. Archax holds a special license issued by the regulator that approves financial promotion activities, which provides a pathway for unauthorized companies to market and offer services to UK consumers.