Global cryptocurrency exchange Bybit is set to expand its presence in Africa, with Kenya identified as a primary target market.
At the Bybit Kenya Meetup in Nairobi, Joshua Ya, the company’s Global Region and Business Development Executive, announced that Bybit is actively pursuing licenses in several African nations, including Kenya, Ethiopia, and Nigeria.
He highlighted Bybit’s dedication to fostering Africa’s burgeoning digital economy through decentralized finance and peer-to-peer trading.
“As we enhance our global footprint, Africa is a crucial market for us. We are focused on obtaining the necessary licenses to operate in countries like Kenya,” stated Ya.
The event gathered fintech leaders, blockchain innovators, crypto traders, and industry stakeholders to discuss the future of digital assets and blockchain advancements across the continent.
Wilson Ogheneovo, Bybit’s Africa Regional Manager, addressed a recent cybersecurity breach involving a third-party platform that resulted in the theft of around 401,000 Ethereum, worth nearly $1.5 billion.
He assured stakeholders that Bybit users were not impacted and reiterated the company’s commitment to security, working closely with global cybersecurity experts.
“Our systems have consistently maintained safety and security,” he remarked, noting that the firm has implemented measures to avert future incidents.
Bybit also emphasized its long-term commitment to Africa through partnerships with local businesses, the expansion of educational programs, and initiatives aimed at onboarding more users into the cryptocurrency ecosystem.
The company aspires to be a key player in shaping Africa’s digital financial landscape by offering secure, user-friendly, and innovative trading solutions.
