Bybit Targets Turkish Market with Super App Ambitions

The expansion hinges on navigating Türkiye’s evolving regulatory environment. While Bybit Kripto Varlık Alım Satım Platformu AŞ currently appears on the Capital Markets Board’s operating list, the regulator maintains that this designation does not constitute a full operating license. Future service offerings, such as banking-style products or corporate financial tools, will require additional authorizations beyond those currently held by standard trading platforms.

Bybit’s strategy draws on its recent international pivots, including an Austrian electronic-money license that allows for broader payment services within the EU. In Türkiye, the company intends to leverage high local demand for stablecoins, which currently serve as a primary vehicle for cross-border business transactions. To support this growth, Zhou suggested potential partnerships with domestic banks, positioning Bybit as a provider of custody and liquidity technology rather than a direct competitor to traditional financial institutions.

Security remains a critical component of the firm's local roadmap, particularly following the February 2025 security breach. In response to the incident, which saw assets targeted via a third-party wallet interface, the company implemented a zero-trust policy and compartmentalized wallet structures. These upgrades are designed to satisfy the rigorous custody and internal control requirements set forth by Turkish regulators in the 2025 secondary legislation, ensuring the platform remains compliant while it scales its product range.