Bybit Seeks U.S. Broker Partner for U.S. Expansion
Bybit wants to use a U.S. broker to get faster access to retail customers, with firms like Interactive Brokers as possible partners. At the same time, the exchange is waiting for more clarity around the Clarity Act and federal crypto rules.
Key Takeaways
- Bybit wants to team up with an established local broker, such as Interactive Brokers, when entering the United States, to get faster access to customers.
- CEO Ben Zhou says the U.S. market is heavily regulated and sees a state-by-state approach as time-consuming; he would rather wait for clearer federal legislation.
- Bybit has more than 80 million users worldwide and is also focusing on Europe, where it plans to launch an all-in-one app with derivatives and tokenized stocks next year.
Bybit wants to work with an established local player when entering the United States to compete with players like Robinhood Markets. CEO Ben Zhou said the crypto company usually looks for a partner first in new markets, and he named Interactive Brokers as an example of a company with an existing U.S. customer base.
Partner Strategy in the U.S.
According to Zhou, it makes more sense for Bybit to work with a company that is already active in the U.S. market and also has an interest in crypto. He said a partner like Interactive Brokers or a similar firm can help it get faster access to customers without immediately building a full U.S. structure itself.
That approach fits a broader trend among offshore crypto exchanges looking to reach U.S. retail investors without carrying the full compliance burden of an independent U.S. entity. The U.S. market is large, but also heavily regulated and crowded, with established names like Coinbase, Robinhood, and Charles Schwab. Other exchanges are also expanding their offerings to keep users on their platforms longer and offer more than just spot trading.
Licenses and Rules
Bybit has more than 80 million registered users worldwide across more than 180 countries and regions. The company is collecting licenses in multiple markets to offer new regulated products. In Europe, it wants to roll out an all-in-one app with derivatives and tokenized stocks in the first quarter of next year.
For the United States, Zhou mainly sees wasted time in a state-by-state approach, as some other firms have done. He estimated that such a process could take two to three years. Instead, Bybit would rather wait for more clarity around new legislation, including the Clarity Act, or for a situation where one federal regulator sets the framework, according to him.
Why This Matters for Europe
For European crypto followers, this shows how exchanges are increasingly aligning their growth plans with local rules and existing financial firms. Bybit also called the U.K. market relatively untapped, but with high entry costs that Zhou said are roughly comparable to the effort needed for a MiCA license in the EU. That makes it clear that regulation is not just a hurdle, but also a factor that shapes where major exchanges make their next move.
