Cryptocurrency trading platform Bybit announced on Thursday that it will now allow Chinese expatriates to open accounts and trade digital assets on its platform.

"Bybit, one of the world’s top three crypto exchanges by volume, is pleased to announce the expansion of our service offerings to the overseas Chinese community," the company stated. "This move is in response to the growing demand for secure, reliable, and user-friendly cryptocurrency trading platforms among Chinese expatriates and international Chinese communities."

This announcement follows recent reports suggesting that Bybit had enabled registration and authentication services for users residing in China, a jurisdiction typically restricted for such activities. However, Bybit did not respond to requests for comment regarding these reports.

"Overseas Chinese users will now be able to register and open accounts on the Bybit platform, enjoying the same benefits as our existing user base," the company continued. Bybit emphasized its commitment to adhering to all applicable regulations in the markets it operates in, and expressed its aspirations to eventually expand its operations to Hong Kong, the UAE, and the EU.

This expansion reflects Bybit's strategic response to the growing interest in cryptocurrency trading within the Chinese expatriate community, offering them access to a secure and reliable platform for their digital asset transactions.