Bybit Pursues MiFID License for EU Derivatives Trading, Discontinues MT5 in Favor of In-House Platform

Cryptocurrency exchange Bybit is actively pursuing a MiFID license to broaden its service offerings in the European Union, specifically within the realm of derivatives trading. This license represents a significant step towards regulatory compliance and will enable Bybit to provide a more diverse range of trading services to its European user base. Furthermore, Bybit has announced plans to gradually phase out its use of the MT5 platform, replacing it with a proprietary in-house trading platform called “Trafi.” This shift is intended to enhance user experience and provide a more customized and efficient trading environment. The transition process is expected to take some time, and current MT5 users will be notified of the upcoming changes, receiving the necessary support during this period. Bybit emphasizes its commitment to providing the best possible services to its clients and developing an innovative trading platform that meets their evolving needs.