Bybit Integrates With Cabital's Fiat On-Ramp Gateway
VILNIUS, Lithuania, 8 February 2022 -– Cabital, a leading digital assets institution, today announced that one of the fastest growing cryptocurrency exchanges Bybit has integrated with Cabital’s comprehensive fiat on-ramp solution.
Cabital’s flexible, secure, and fast fiat-to-crypto on- and off-ramp solution allows Bybit users to buy crypto at some of the most competitive rates in the industry without leaving Bybit’s platform.
“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, safe and low-cost fashion. With Cabital’s fiat on-ramp solution, Bybit users can now buy crypto at some of the most competitive rates in the market. We achieve this through an off-chain settlement mechanism with Bybit, allowing their users to avoid hefty gas fees and long waiting periods. Let’s take the crazy out of crypto and help millions of people achieve financial independence.”
“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.”
Through Cabital’s fiat on-ramp solution, Bybit users can buy crypto using euros and pound sterling seamlessly and directly on the Bybit platform via bank transfers, and transfer crypto between their Bybit and Cabital wallets with no transfer fees between Bybit and Cabital wallets. As fiat on-ramp is the first step in a crypto investor’s experience, this offers an easy-to-use entry point to Bybit users looking to expand their portfolios and venture into crypto investing and trading.
Cabital’s fiat on-ramp gateway is integrated with multiple leading cryptocurrency exchanges to provide customers with the most competitive rates in the industry. When Bybit users buy crypto through Cabital’s fiat gateway solution, they will not have to pay hefty gas fees because Cabital transfers the crypto from its platform to their Bybit wallets through an off-chain settlement solution. Cabital’s off-chain settlement mechanism will save Bybit users a lot of money on every transaction and provide them with a seamless user experience.
When Bybit users enter Cabital’s fiat on-ramp gateway, they will go through a simple and painless know-your-customer process to ensure compliance with regulatory demands. After verification, Bybit users can easily link their bank accounts to Cabital’s fiat on-ramp gateway and start buying and selling crypto with their fiat currencies.
Cabital’s fiat on-ramp gateway 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.
Bybit is Cabital’s first partner to use its fiat on and off-ramp infrastructure for cryptocurrency exchanges. The Lithunian-based cryptocurrency exchange offers a full-stack payment infrastructure that enables cryptocurrency companies to operate fiat-to-crypto on- and off-ramps to accept fiat currencies.
Cabital’s plan is to partner with more cryptocurrency exchanges in demand of a simple and secure fiat on-ramp solution to make crypto affordable and accessible to all people.
Cabital is a trusted digital financial institution to buy, sell and earn cryptocurrency — generating up to 12% APY. The company’s purpose is to empower people to earn passive income safely and securely with their cryptocurrencies. Our main product is Cabital Earn, a cryptocurrency wealth management platform that enables customers to earn high yields on their digital assets.
Cabital’s compliance programme is modelled after leading global financial service providers. We use SumSub’s biometric identity verification solution to manage the risk of identity fraud. To provide our customers with peace of mind, all customers’ crypto assets are held with Fireblocks, one of the world’s most trusted digital asset custody, transfer and settlement platforms. We have been using Chainalysis’ KYT and Reactor products since our formation to empower us to meet applicable regulatory requirements on Anti-Money Laundering (AML) in each of our markets with ease and agility.
Cabital is registered in the Republic of Lithuania as a cryptocurrency exchange operator and a cryptocurrency depository wallet operator. Cabital carries out its activities in accordance with Lithuanian regulations on AML/CTF, and is subject to the European Union’s General Data Protection Regulation. Cabital is audited yearly by an external auditor and places compliance and licensing at the core of its business.
Cabital was founded by Raymond Hsu in 2020. Prior to establishing Cabital, Raymond worked for over a decade, holding leadership positions in fintech companies such as Airwallex and global banks including Citibank. Cabital’s leadership team has extensive experience working in leading traditional financial institutions, including JPMorgan Chase & Co, Nomura Securities, UBS and AIA Group.
Bybit is a cryptocurrency exchange established in March 2018 to offer a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. The company provides innovative online spot and derivatives trading services, mining and staking products, as well as API support, to retail and institutional clients around the world, and strives to be the most reliable exchange for the emerging digital asset class.
Investment community: Tina Chu, Tina.firstname.lastname@example.org
News media: Baron Laudermilk, Baron.Laudermilk@cabital.com