Bybit Aims to Turn Türkiye Business into Financial Super App

Bybit, a major cryptocurrency exchange, plans to expand its services in Türkiye, turning its local business into a financial 'super app' offering payments, transfers, and investment products beyond crypto trading. The company's CEO, Ben Zhou, sees Türkiye as one of the world's top five markets for global crypto exchanges and expects the local operation to grow as regulations become clearer.

The super app will allow users to use the platform for daily financial needs, including international money transfers, stablecoin payments, and access to investment products. Some of these services will require licenses beyond the permissions available to a standard crypto trading platform. Zhou said Bybit wants to 'transform Bybit into a super application in Türkiye.'

The company has already developed payment products in other markets and connected Bybit Pay with over 300 wallets, exchanges, and financial platforms through Mesh. Stablecoins see heavy use for cross-border transactions, especially among businesses, and Bybit is eyeing a potential large market for corporate stablecoin payments in Türkiye.

However, Bybit's plans remain tied to Türkiye's developing licensing system. The Capital Markets Board of Türkiye currently lists Bybit Kripto Varlık Alım Satım Platformu AŞ among companies that have declared their intention to continue operating, but appearing on the operating list does not mean the company has been authorized under the applicable legislation.

Bybit is already testing its finance model in Europe, where it operates through an Austrian entity authorized as a crypto-asset service provider under the EU's Markets in Crypto-Assets Regulation. The company's security model has also been changed since the 2025 hack, with a new 'zero trust' policy implemented to manage third-party and wallet risk.