The license will allow the exchange to strengthen its presence in the European Union after its withdrawal from Canada and the UK.
According to Ben Zhou, co-founder and chief executive officer of the crypto exchange, obtaining a license in Cyprus is a landmark event that indicates the company’s compliance with the regulatory framework while expanding its global presence. Zhou also noted that the company fully supports the regulator’s goal of creating a transparent and secure crypto industry.
Earlier, Bibit had already received a license from ASSA, and in the early summer of 2023, the exchange received an official permit to work in Kazakhstan. The new jurisdiction will allow the company to expand its presence in the CIS, which is especially important during the tightening of requirements for crypto exchanges in the United States.