Bybit Outlines Its Vision for Africa, eyes Kenya, Ethiopia and Nigerian markets

By Remie OTIENO

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, reinforced its commitment to Africa’s growing digital economy at the Bybit Kenya Meetup in Nairobi.

The event gathered fintech leaders, blockchain entrepreneurs, key industry players and crypto traders to explore the future of digital assets, decentralized finance, and P2P trading in Africa.

Bybit Global Regional Manager Joshua Yau added that the firm is in the process of acquiring licenses in African countries, including Kenya, Ethiopia and Nigeria, among others.

Delivering the keynote address, Joshua Ya, Global Region and Business Development Executive at Bybit, outlined the company’s vision for Africa. He said that the firm is in the process of acquiring licences in African countries, including Kenya, Ethiopia, Nigeria among others.

Wilson Ogheneovo, the Africa Regional Manager,  addressed the recent cybersecurity breach, where approximately 401,000 Ethereum (valued at nearly $1.5 billion) were stolen during a routine transfer from a cold wallet to a hot wallet, marking it as the largest cryptocurrency heist to date.

“Our systems have always been safe and secure,” Wilson clarified. “The breach occurred on a third-party platform that we rely on to deliver some of our services. While the situation was unfortunate, we have moved past it and ensured that no Bybit users lost access to their funds or faced any interruptions in withdrawals.”

 He also highlighted Bybit’s ongoing collaboration with global cybersecurity experts to strengthen its defenses against future threats

Bybit reaffirmed its long-term commitment to Africa, with plans to collaborate with local companies, expand educational initiatives, and onboard more users into the crypto space.

The exchange is set to play a key role in shaping Africa’s digital financial landscape by providing secure, user-friendly, and innovative trading solutions.