Aug 09, 2023 05:05
After
moving its global headquarters to the United Arab Emirates (UAE) and obtaining
a cryptocurrency license in Dubai, the cryptocurrency exchange, Bybit shared
another update related to a product enhancement. According to a press release
seen by Finance Magnates, the platform is exploring ways to expand its typical
cryptocurrency offering by adding a wealth management service.
Bybit to Offer Wealth
Management
Bybit
claims that this latest offer is targeted at more experienced investors looking
to protect their capital and limit risks while ensuring satisfactory returns.
Bybit's
Wealth Management deploys strategies combined with risk management techniques.
It introduces tailored financial products that match specific investor goals
and risk preferences. This ensures that every investor can customize strategies
to their needs.
The
roll-out of this initiative is planned in two distinct phases. Initially,
investors will have access to the Fund Pool, a diversified asset portfolio
curated by industry experts. Later on, Bybit plans to unveil Structured
Products, broadening the investment opportunities for its customers.
?? Introducing #Bybit Wealth Management: Grow Your Assets Hands-Free in All Market Conditions!This is our latest innovation which enables YOU to manage, plan and invest in the #crypto market with no fees.?? Learn more: https://t.co/hKeSmjLWIA#TheCryptoArk #NextLevelProducts pic.twitter.com/EGNmgFWUzs
— Bybit (@Bybit_Official)
August 8, 2023"We
are thrilled to introduce Bybit's Wealth Management, a product that epitomizes
sophistication and caution in the crypto investment space," commented Ben
Zhou, the Co-Founder and CEO of Bybit. "With tailored options, stable
returns, and low-risk strategies, our Wealth Management product provides
effortless access to the abundant opportunities in the crypto market."
The wealth
management offering is not limited to individual clients but is also intended
to expand to institutional clients. However, the company has not disclosed
whether the strategy will be based solely on cryptocurrency assets or on
other financial products.
Bybit Moves to Dubai,
Exits Canada
Almost four
months ago, Bybit unveiled its new global headquarters in Dubai. Shortly after
that, it secured a local license to deliver cryptocurrency services.
Bybit FinTech FZE, Bybit's arm in the Middle East, shared that the Dubai-based
Virtual Assets Regulatory Authority (VARA) had provided them with a preliminary
Minimum Viable Product (MVP) license.
Meanwhile,
regulatory authorities in Kazakhstan granted Bybit an 'in-principle' license,
and the exchange also acquired a new license from the Cyprus Securities and
Exchange Commission (CySEC). However, aligning with recent changes in
Canadian regulatory norms for the sector, Bybit has decided to withdraw its
operations from the Canadian market.
This article was written by Damian Chmiel at www.financemagnates.com.
World Crypto Global
