Bybit Accelerates Global Expansion with European Card Launch, MNT Utility Boost, and Web3 Upgrade

The Event in Detail

Bybit has initiated a significant global expansion, underscored by strategic partnerships and regulatory adherence. The exchange signed a Memorandum of Understanding (MOU) with the People's Committee of Da Nang City, the Abu Dhabi Blockchain Center (ADBC), and Verichains Network Security Company Limited. This collaboration aims to foster Vietnam's digital asset ecosystem and develop Da Nang as an International Financial Center.

In Europe, Bybit has solidified its presence with the official launch of the Bybit Card across the European Economic Area (EEA). This launch adheres to the EU's Markets in Crypto-Assets (MiCA) framework, following Bybit EU securing a MiCA license from the Austrian Financial Market Authority (FMA). This license permits operations across 29 EEA countries, positioning Bybit for regulated service provision in the region. To incentivize adoption, new users applying in September are eligible for a 20% cashback on eligible spending, building on the card's global success with over 2 million issuances.

The MNT token, central to the Bybit ecosystem, is undergoing a substantial utility expansion outlined in the "Mantle × Bybit Roadmap." This roadmap details phased integrations to transform MNT into a versatile asset. Users can now utilize MNT for a range of functions, including trading fee discounts (25% off Spot trading and 10% off Derivatives trading), zero-conversion-fee card payments, and Web3 purchases. Institutional users benefit from increased leverage, up to 8x, and extended fixed-loan terms, while retail users gain multipliers for faster VIP upgrades and enhanced cashback via Bybit Card & Pay. The roadmap also incorporates MNT into earning opportunities through fixed-term savings, higher allocations for new token launches, flexible savings, dual asset products, and liquidity mining, with staking programs offering up to 36% Annual Percentage Rate (APR) under MiCA-compliant regulations.

The Bybit Web3 platform has been revamped and rebranded as "Wallet," aiming to simplify on-chain interactions. This upgrade eliminates the requirement for users to set up an on-chain wallet or acquire gas tokens, enabling one-click transactions using their Unified Trading Account (UTA) balance, which supports USDT, USDC, SOL, and bbSOL. The platform also facilitates instant purchases of trending on-chain tokens on the Solana network. As part of this initiative, Bybit has introduced a limited-time prize pool of 200,000 USDT for eligible Web3 users.

Finally, Bybit's World Series of Trading (WSOT) 2025 achieved a GUINNESS WORLD RECORDS™ title for the highest number of participants in an online trading contest within 24 hours, recording 71,765 verified participants. The event generated an unprecedented trading volume of $172.8 billion and saw a 288% increase in squad participation compared to the previous year, with over 6.14 million USDT unlocked for distribution.

Financial Mechanics

The strategic expansion of MNT utility represents a direct financial incentive within the Bybit ecosystem. The 25% discount on Spot trading fees and 10% on Derivatives fees directly reduces transaction costs for users. The Bybit Card's zero conversion fees and the 20% cashback offer for new European users provide tangible financial benefits for integrating digital assets into daily spending. Furthermore, institutional users are provided with enhanced capital efficiency through up to 8x leverage and extended fixed-loan terms, while the potential for 36% APR through MNT staking under MiCA regulations aims to attract significant capital. The 200,000 USDT prize pool for Web3 users is designed to stimulate engagement with the rebranded "Wallet" and its simplified on-chain opportunities.

Business Strategy & Market Positioning

Bybit's strategy focuses on a multi-pronged approach encompassing regulatory compliance, global market penetration, and product innovation. The acquisition of a MiCA license in Europe provides a "first-mover advantage," distinguishing Bybit in a market where trust and regulatory adherence are increasingly critical. This compliance, coupled with a localized approach including a European headquarters in Vienna, aims to capture market share from smaller exchanges facing compliance costs. The partnerships in Vietnam and the Abu Dhabi Blockchain Center reflect a broader commitment to supporting emerging digital asset ecosystems and establishing regional hubs. By enhancing MNT's utility across trading, payments, and savings, Bybit is positioning the token as a bridge between Web2 and Web3, and between TradFi and DeFi. This approach, combined with initiatives like tokenized stocks (e.g., AAPL, TSLA, SPY), is designed to attract a wider user base seeking integrated financial services.

Broader Context

Bybit's recent developments unfold within a broader context of increasing regulatory clarity and institutional interest in the digital asset space. The MiCA framework in Europe provides a unified regulatory environment, reducing uncertainty and fostering a more stable operating landscape for compliant exchanges. Bybit's strategic alignment with these regulations, alongside its Proof-of-Reserves (PoR) audits, aims to build investor confidence and mitigate counterparty risk. The expansion of MNT's utility signals a maturation of the crypto market, shifting from speculative assets towards utility-driven tokens with tangible applications. This trend, combined with simplified Web3 access and the integration of digital assets into everyday payment systems via the Bybit Card, is indicative of a broader industry effort to drive mainstream adoption and bridge the gap between traditional finance and decentralized ecosystems. The record-breaking WSOT 2025 participation underscores robust retail engagement and continued market interest in crypto trading competitions, reflecting sustained activity despite broader market dynamics.