Bybit Among 14 Firms Aiming for Crypto License in Hong Kongby Fintech News Hong Kong February 5, 2024
Bybit has applied to the Hong Kong Securities and Futures Commission (SFC) to operate as a “virtual asset trading platform,” according to a statement from the company.
The website of the Hong Kong Securities and Futures Commission indicates that Bybit, through its associated entity Spark Fintech Limited, has filed a license application.
The commission’s website indicates that Bybit’s application is one of 14 from various crypto entities, including OKX, submitted on 16 November.
The company’s statement mentioned the importance of the Hong Kong market in its operational strategy, noting the city’s strategic position and financial ecosystem.
The pursuit of a Virtual Asset Trading Platform (VATP) license is witnessing a competitive landscape. HKVAEX, a crypto platform reportedly associated with Binance, also entered the fray with its application on 4 January, as listed on the SFC’s registry of applicants.