Amsterdam, Netherlands, October 31, 2024, Chainwire
Bybit Powered by SATOS acknowledges the choice of De Nederlandsche Financial institution (DNB) to impose a advantageous of EUR 2,250,000 for offering providers with out registration between October 2, 2020 and September 15, 2023. Bybit respects the choice of the DNB.
As the primary alternate to undertake the laws within the Netherlands because the regulator's announcement, Bybit started its remediation efforts as early as 2022 by facilitating the switch of our clients within the Netherlands to SATOS BV to attenuate potential monetary harm and the impression on our shoppers. . All through this course of, Bybit saved DNB totally knowledgeable and efficiently accomplished the switch of our Dutch clients on September 15, 2023.
Since September 2023, Bybit has operated underneath Bybit Powered by SATOS, leveraging SATOS' Digital Asset Service Supplier (VASP) license accredited by the DNB. This strategic partnership highlights Bybit's dedication to providing safe, compliant and revolutionary crypto providers. Bybit not too long ago opened a neighborhood workplace in Amsterdam, a serious step in our journey to higher serve crypto fans within the Netherlands.
Ben Zhou, co-founder and CEO of Bybithighlighted the corporate's give attention to accountable progress: “Since our partnership with SATOS, we function totally inside the regulatory framework. Presently, Bybit Powered by Satos is changing into the second largest alternate out there with 10 million customers. Bybit Powered by Satos is We additionally work carefully with native universities. At Bybit, we stay dedicated to working carefully with European regulators to construct a accountable and clear ecosystem. We’re excited to proceed offering safe and dependable providers to the Dutch group as we increase responsibly throughout Europe.
The partnership between SATOS and Bybit additional highlights Bybit's dedication to dependable and revolutionary options developed in full compliance with the regulatory framework established by DNB. Bybit believes that cooperation with European Union market authorities is crucial for sustainable progress.
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About Bybit Powered by SATOS
In June 2023, Bybit shaped a strategic alliance with SATOS, one of many oldest crypto service suppliers working within the Netherlands and Belgium since 2013. This partnership demonstrates our dedication to offering one of the best providers to our customers in accordance with regulatory pointers. and make sure the provision of top quality providers to our customers.
ContactPublic relations supervisorTony AuBybittony.au@bybit.com
This text was initially revealed on Chainwire
