bybita cryptocurrency exchange, and Talos, a provider of institutional digital asset trading technology, have partnered, according to a March 2 press release.
Bybit and Talos team up to improve the user experience
Following this deal, Bybit will have better access to institutions looking to explore and delve into the crypto space through Talos. At the same time, the move will significantly boost Bybit’s real-time liquidity, improving the user experience.
The partnership combines Talos’ infrastructure platform and Bybit’s various crypto assets and business solutions. This includes taking advantage of the exchange’s high-precision trade execution.
Bybit offers a wide range of institutional services, including specialized lending, provision of API capabilities, high-powered infrastructure, and a unified trading account.
Commenting on this partnership, Ben Zhou, Bybit’s co-founder and CEO, said that they would now provide institutions looking for secure yet reliable channels to explore cryptocurrency with a fast and reliable avenue to gain exposure through Talos.
“Bybit understands the growing demand for advanced trading solutions required by increasingly sophisticated institutions as they seek growth opportunities in cryptocurrency. We are excited to partner with Talos to facilitate fast, reliable and secure access to investments in digital assets.”
Meanwhile, Talos CEO and co-founder Anton Katz said his partnership with Bybit will broaden his execution capabilities while expanding his options for engaging with top-tier clients.
“Partnering with Bybit allows us to further expand our execution capabilities for clients, providing them with expanded options to interact and transact with the industry’s top destinations. At Talos, we are always looking to expand our connectivity through smart integrations like the one we now have with Bybit. The strength of the offerings at Bybit provides our users with a wide range of execution features to enhance the quality, depth and breadth of their entire trading activity.”
Increase market share and improve booking transparency
In 2022, during the crypto winter when user activity was depressed, Bybit increased its market share. At one point, it became the second largest exchange by volume in the perpetual and futures trading category. By January 2023, Bybit has expanded its derivatives market share, rising to 14.6%. After the integration of Talos services, Ben Zhou said that his business operations would be more efficient and better serve his institutional clients.
Speaking during Blockchain Life 2023 in Dubai, Ben Zhou saying centralized exchanges could take advantage of the transparent nature of blockchains to make their reserves even more apparent. As part of its steps to increase trust and remain transparent, Bybit has integrated a proof of reserve system that uses Merkle Tree.
Disclosure: This content is provided by a third party. crypto.news does not endorse any products mentioned on this page. Users should do their own research before taking any action related to the Company.
