Bybit Eyes U.S. Broker Partnerships to Challenge Robinhood as Regulatory Clarity Remains Uncertain
Bybit plans to pursue partnerships with established U.S. financial firms as it prepares for a potential entry into the American market, with CEO Ben Zhou identifying companies such as Interactive Brokers as possible collaborators in its effort to compete with platforms including Robinhood.
Zhou said partnering with a company that already has a substantial U.S. customer base could provide Bybit with a more practical route into the market than building its own regulatory infrastructure across individual states. The exchange has not yet established a presence in the United States and is weighing the timing of its entry against developments in the country's crypto regulatory framework.
Bybit Considers Established U.S. Financial Firms
In an interview, Zhou described partnerships as Bybit's standard approach when expanding into new markets. For the United States, he said the company would look for a partner interested in entering the cryptocurrency sector but already serving a significant number of American customers.
He cited Interactive Brokers as one possible example, noting that established financial firms with a strong domestic client base could offer a route into crypto services. The comments indicate that Bybit is considering cooperation with existing brokerage businesses rather than relying solely on an independent market-entry strategy.
Bybit is the world's second-largest cryptocurrency exchange by trading volume, according to the source report. The company has more than 80 million registered users across over 180 countries and regions, giving it an international customer base as it explores additional regulated products and markets.
Regulatory Uncertainty Shapes U.S. Entry Strategy
One factor influencing Bybit's plans is the time and effort required to obtain licenses across the United States. Zhou estimated that pursuing state-by-state money transmission licenses could take two to three years, a process associated with the approach used by exchanges such as Coinbase Global.
That route can include securing New York's BitLicense, a regulatory authorization sought by cryptocurrency businesses operating in the state. Bybit is instead considering whether it would be more advantageous to wait for greater clarity on federal crypto legislation and the responsibilities of U.S. regulators.
Zhou referred to the proposed Clarity Act and said the company would prefer to understand how the legal framework develops before committing to an entry strategy. He also raised the possibility that federal oversight could eventually consolidate licensing under a single regulator, potentially replacing some of the complexity associated with separate state-level requirements.
Such an outcome remains a possibility rather than an established regulatory arrangement. Bybit's decision will depend in part on how U.S. rules evolve and whether a clearer framework emerges for cryptocurrency businesses.
Bybit Says Its U.S. Track Record Could Be an Advantage
Zhou argued that Bybit's absence from the American market could work in its favor because the company has not established a U.S. operating record that could complicate a future entry. He said the exchange could enter when conditions are suitable rather than rushing to follow competitors.
“Bybit is the only one that's been sitting out of the U.S., and as a result we have a completely clear record there,” Zhou said, adding that the company wants to use that position to its advantage and wait for the right moment.
His comments reflect a cautious approach to expansion: Bybit is exploring potential partners while assessing the regulatory environment instead of committing immediately to a lengthy licensing process. A partnership with an established brokerage could help the exchange reach U.S. customers, although no agreement with Interactive Brokers or another firm was announced in the source report.
International Expansion Continues
Beyond the United States, Bybit has been pursuing licenses in multiple jurisdictions as it seeks to expand its range of regulated offerings. In Europe, the exchange plans to introduce an all-in-one application that would include derivatives and tokenized stocks as early as the first quarter of next year, according to Zhou.
The proposed European offering illustrates Bybit's broader effort to extend beyond conventional cryptocurrency trading. Its U.S. strategy, however, remains dependent on identifying a suitable local partner and gaining a clearer understanding of the country's regulatory direction.
For now, Bybit has not announced a U.S. launch date or confirmed a brokerage partnership. Zhou's remarks suggest the exchange intends to preserve flexibility and enter the market when the commercial opportunity and regulatory conditions are more favorable.
source: coindesk
Writer: Ethan Collins
Crypto Journalist
Ethan Collins reports on developments across the cryptocurrency and blockchain sector. His work covers market movements, protocol updates, regulatory changes, and emerging trends in digital assets.
He focuses on presenting complex topics in a clear and accessible manner for a broad readership.
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