Bybit, one of the world’s fastest growing cryptocurrency exchanges, announced its partnership with leading global digital assets institution Cabital today.

Through this partnership, Bybit users can buy crypto using EUR and GBP seamlessly and directly on the Bybit platform via bank transfers, and transfer crypto between their Bybit and Cabital wallets with no deposit fees required. As a fiat on-ramp is the first step in a crypto trader’s experience, this offers an entry point to users looking to expand their portfolios and venture into crypto trading.

Additionally, Cabital’s system scans numerous exchanges to provide users with the best rates for full price transparency. It is also fortified with technologies from the market leader in crypto security and infrastructure, Fireblocks, which safeguards users’ funds with best-in-class, institutional grade protections.

“Cabital’s goals of creating an innovative and reliable crypto experience are aligned with ours to bring forth next level trading to our users and elevate their experience,” said Ben Zhou, co-founder and CEO of Bybit. “We at Bybit are thrilled to embark on this new partnership with Cabital, and look forward to empowering folks from all walks of life in realizing their financial goals through crypto. Let’s revolutionize the industry together.”

“Cabital believes that it should be easy to buy crypto,” said Raymond Hsu, co-founder and CEO of Cabital. “We are very excited about partnering with Bybit and helping their customers buy crypto in a seamless and safe fashion. With Cabital’s fiat on-ramp solution, Bybit users can now buy crypto at some of the most competitive prices in the market. We achieve this through an off-chain settlement mechanism with Bybit, allowing their users to avoid hefty gas fees. Let’s take the crazy out of crypto and help millions of more people achieve financial independence.”

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Binance, one of the largest cryptocurrency exchanges in the world, said on Monday that Singapore users will no longer be allowed to buy and trade cryptocurrencies on its main platform in accordance with local laws.

The Monetary Authority of Singapore (MAS) warned Binance.com this month that it may violate local laws and must stop providing payment services to residents of the city-state.

Effective October 26, Singapore users will no longer be able to deposit fiat currencies, buy or trade spot cryptocurrencies on the platform, it said in a statement on Monday, and a significant tightening of restrictions was announced shortly after the MAS announcement.

The local Binance subsidiary has applied for a license in Singapore, and like other candidates, Binance Singapore may operate in Singapore with an exception while MAS processes applications. Cryptocurrency exchanges such as Binance, which were previously able to serve virtually every market in the world from a single platform, are facing growing resistance from local regulators who want to be able to better control their operations.

In recent months, regulators in the UK, Italy and Hong Kong have said that Binance units are not allowed to carry out certain activities in their markets, and the Malaysian financial regulator has scolded the exchange for illegal activities in these markets.

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