In a bid to diversify its global footprint, Bybit, one of the world’s largest cryptocurrency exchanges, has introduced its trading platform, Bybit.nl, in the Netherlands.

This strategic move comes amidst escalating regulatory concerns in Hong Kong, where the exchange has been under scrutiny for its operations.

The launch, announced officially on March 28, marks a significant step for Bybit into the European market. Bybit.nl, the new digital asset platform, is tailored to meet the trading needs of Dutch users while ensuring compliance with local regulations. The exchange aims to provide a secure environment for users to engage in cryptocurrency trading and access educational resources.

Bybit’s expansion into the Netherlands is made possible through a partnership with Satos, a prominent Bitcoin-focused company in the region. Through this collaboration, Dutch users can seamlessly deposit and withdraw fiat currency and access a wide array of trading pairs, totaling over 300.

Bybit’s co-founder and CEO, Ben Zhou, emphasised the company’s dedication to prioritizing user experience and regulatory adherence. He stated, “Through our partnership with SATOS, we aim to provide Dutch users with a secure and seamless trading experience, backed by industry-leading security measures and unparalleled support.

This move by Bybit follows closely on the heels of regulatory actions in Hong Kong. On March 14, Hong Kong’s Securities and Futures Commission issued a public warning against Bybit, citing concerns over its unlicensed operation of crypto-related products in multiple jurisdictions.