Bybit has launched the global 'Make Your Move' campaign, positioning the platform as a broader financial service. On Thursday, co-founder and CEO Ben Zhou said the era of 'pure' crypto exchanges is ending, as traders now want access to stocks, gold, forex, indices, and payments alongside digital assets.

Derivatives Without Owning Underlying Assets

As part of its new positioning, Bybit is building on its existing derivatives offering, which includes products linked to stocks, gold, indices, and forex. These products provide price exposure without requiring ownership of the underlying assets. 'People trading crypto also want stocks, gold, forex, indices, and derivatives. They want to pay, save, and grow their capital in one place,' Zhou said.

Number of Niche Exchanges Declines

The industry’s restructuring is marked by the exit of several players: BitMEX halted trading on Wednesday after 11 years in operation; CoinEx announced it would wind down this month, citing declining trading volumes and rising compliance costs. BitMart announced its closure in July but is exploring a restructuring that could allow some operations to resume.

Coinbase Develops 'Everything Exchange' Strategy

Meanwhile, competitor Coinbase is expanding its lineup beyond crypto, adding stocks and prediction markets as part of its 'Everything Exchange' strategy. 'The next generation of financial platforms will not be built around a single asset class,' Zhou noted.