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0In this keynote address, Bybit CEO Ben Zhou reviews the rapid development of the global crypto industry in 2025 and systematically outlines Bybit's strategic transition from a "crypto exchange" to a "comprehensive financial platform." He notes that clearer regulatory frameworks, increasing institutional participation, and the growth of stablecoins and real-world assets (RWA) are collectively driving crypto assets into a broader mainstream financial system.
During the speech, Ben also reflects in detail on the market turmoil of October 10 (10.10), analyzing its impact on market liquidity and trading infrastructure. He revisits key issues exposed by the event, including liquidation mechanisms, mark price accuracy, auto-deleveraging (ADL), and overall system stability, and introduces a series of upgrades and improvements Bybit implemented afterward across risk management, market surveillance, and core infrastructure.
Looking ahead to the coming year, Ben further outlines Bybit's product and strategic roadmap, including continued expansion of global compliance and licensing, enhancements to fiat on- and off-ramp and payment networks, the launch of retail banking accounts and more comprehensive wealth management offerings, the introduction of RWA-based yield solutions, and deeper integration of AI across trading, risk control, and user experience. Overall, Bybit aims to position itself as a long-term infrastructure builder, bridging traditional finance and crypto while improving global access to and efficiency of financial services.
Below is the transcript of Bybit CEO Ben's keynote. The audio transcription was generated by GPT and may contain inaccuracies; minor edits have been made for readability.
Timeline
00:00 Introduction and keynote opening
00:34 2025 crypto adoption trends and global market growth
01:57 Regulation, ETFs, stablecoins, and institutional adoption
03:40 Crypto as global financial infrastructure and inclusion tool
05:41 Bybit's vision: from exchange to financial platform
06:52 Compliance-first strategy and global licensing expansion
07:35 Building global fiat, card, and payment infrastructure
09:39 Bridging TradFi and crypto through RWA and custody solutions
12:51 Connecting crypto users with traditional markets (stocks, gold, forex)
14:00 Wealth management, Earn products, and private banking services
16:43 Launch of retail banking accounts ("MyBank by Bybit")
19:51 RWA strategy and tokenized asset outlook
20:41 Product simplification, user feedback, and app restructuring
24:51 AI-powered support, automation, and user experience upgrades
25:54 Advanced trading tools and execution infrastructure
30:11 Options market growth and institutional trading features
31:35 Market crash reflection and risk management improvements
34:19 2026 roadmap: payments, RWA, AI agents, and infrastructure
38:40 Corporate responsibility and global community initiatives
40:09 Tokenized stocks, DEXs, and future market structure
44:04 Closing remarks and long-term vision
