Exchanges focused exclusively on cryptocurrency are gradually becoming a thing of the past, Bybit co-founder and CEO Ben Zhou told Cointelegraph on Thursday. He said users want more than digital asset trading: they also want access to stocks, gold and payment services.
“People who trade cryptocurrencies also want to trade stocks, gold, currencies, indices and derivatives” Zhou said. “They want to make payments, save and grow their wealth in one place.”
His comments came as Bybit launched its “Make Your Move” campaign, positioning the exchange as a broader financial platform. Bybit already offers derivatives linked to stocks, gold and indices, as well as foreign exchange derivatives. These instruments provide exposure to price movements without requiring users to own the underlying assets.
Bybit’s repositioning coincides with several established crypto exchanges winding down their operations. BitMEX stopped trading on Wednesday after 11 years in business. CoinEx announced this month that it would wind down, citing declining trading volumes and rising regulatory compliance costs. BitMart announced plans to close in July but is now exploring a restructuring that could allow it to resume some operations.
Meanwhile, rival Coinbase is expanding its product range under its “Everything Exchange” strategy, adding stocks and prediction markets alongside cryptocurrencies.
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