Bybit CEO Ben Zhou advocated decentralized finance (DeFi) and interoperability between conventional finance and crypto throughout his keynote on the DACOM Singapore 2024 occasion.
“The panorama isn’t solely decided by full decentralization or full centralization. Fairly, there’s a various spectrum of hybrid DeFi fashions,” mentioned Zhou. He highlighted the business’s journey in direction of interconnectedness between typical and decentralized monetary methods.
Zhou additionally addressed misunderstandings surrounding DeFi and its relationship to conventional finance. He emphasised the worth proposition of crypto as a alternative, particularly the place native monetary infrastructure is struggling.
Bybit is among the many prime three crypto derivatives exchanges, with almost $30 billion in futures buying and selling quantity prior to now 24 hours on the time of writing.
Providing a perspective for the sector, Zhou predicted better institutional participation and a pattern in retail in direction of restraint. He underscored the significance of adaptability when navigating the dynamic crypto panorama and emphasised Bybit’s dedication to evolving with market calls for. Bybit’s CEO additionally emphasised sustaining market integrity and stopping manipulation given the trade’s institutional buyer focus, citing a proactive stance on regulatory engagement and emphasizing constructive dialogue and numerous compliance frameworks.
As well as, Zhou reiterated that he was working with regulators, particularly central banks, to allow licensing and monetary innovation, whereas recognizing challenges in jurisdictional engagement. He concluded by emphasizing the essential position of compliance in selling the expansion and legitimacy of the business.