According to Bybit co-founder and CEO Ben Zhou, the era of "pure crypto exchanges" is coming to an end. In a recent interview with Cointelegraph, he emphasized that customers are increasingly looking for platforms that offer a variety of financial products, including stocks, gold, and forex.
Bybit has launched its "Make Your Move" campaign to reposition itself as a comprehensive financial platform, already providing derivatives linked to various assets. Zhou noted that traders want to manage their investments and grow their wealth all in one place.
This shift in focus comes as several established crypto exchanges are facing challenges. Notably, BitMEX ceased trading after 11 years, and CoinEx announced its wind-down due to declining trading volumes and rising compliance costs.
In contrast, competitors like Coinbase are expanding their offerings, adopting an "Everything Exchange" strategy that includes stocks and prediction markets alongside cryptocurrencies.
Zhou concluded that the future of financial platforms will not be limited to a single asset class, reflecting the evolving needs of traders in the digital age.