Bybit CEO Ben Zhou Wants a Turkiye Super App Stretching Far Beyond Crypto Trading

Bybit wants to turn its Turkish operation into a full financial super app spanning payments, transfers, stocks and crypto, CEO Ben Zhou said, positioning the exchange to compete far beyond spot trading as Türkiye’s licensing regime takes shape.

In an interview with Fintechtime published Oct. 2, Zhou said Türkiye ranks among the world’s top five crypto markets for global exchanges and that he expects Bybit’s local operation to expand as regulations become clearer. The goal, he said, is for users to eventually handle their daily financial needs on the platform — international money transfers, stablecoin payments and access to investment products.

“We want to transform Bybit into a super application in Türkiye,” Zhou said.

Beyond the exchange business

The plan mirrors Bybit’s broader 2026 push beyond the traditional exchange model, which has already introduced banking-style services, custody and cross-border payments. The company has separately expanded into foreign-exchange contracts, traditional-asset derivatives and payment products this year.

Zhou told Fintechtime that Bybit could evaluate additional Turkish licenses to fill out the product range, though he announced no specific applications, launch dates or approved services beyond the exchange business already operating locally. Some of the envisioned services would require licenses beyond what a standard crypto trading platform can obtain.

Payments form a central pillar of the strategy. Bybit has developed payment products in other markets and recently connected Bybit Pay with more than 300 wallets, exchanges and financial platforms through Mesh, letting customers spend or transfer crypto directly from exchange balances. Availability of such features in Türkiye depends on local rules.

Stablecoins for cross-border business

Zhou said stablecoins already see heavy use for cross-border transactions in Türkiye, especially among businesses, and described the country as potentially one of the largest markets for corporate stablecoin payments — an assessment he presented as his own view rather than an independently verified ranking.

Third-party data supports the broader picture. Chainalysis research found in 2024 that Türkiye led the world in stablecoin trading volume relative to GDP, and its 2026 Global Crypto Adoption Index ranks the country 20th overall under a methodology covering service flows, balances, peer-to-peer activity and cross-border transactions.

For a market where inflation and currency volatility have long driven residents toward dollar-pegged assets, corporate cross-border settlement is the next frontier that exchanges are eager to capture.

Licensing is still the gatekeeper

Bybit’s ambitions remain tied to Türkiye’s developing licensing system. The Capital Markets Board currently lists Bybit Kripto Varlık Alım Satım Platformu AŞ among companies that have declared their intention to continue operating — a list the regulator itself calls temporary. More importantly, the regulator explicitly states that appearing on the operating list does not equal authorization under the applicable rules.

Türkiye’s crypto framework covers licensing, custody, capital requirements, anti-money-laundering controls and technology standards for local platforms. Moving from declared intention to full authorization — and then to whatever additional licenses a super app would need — is the multi-step process standing between Zhou’s vision and reality.

Security reset after a brutal year

The expansion push follows a difficult stretch for the exchange’s security reputation. After the February 2025 hack that cost Bybit roughly 1.4 billion USD — still the largest crypto exchange theft on record — the platform has rebuilt its security model around zero-trust architecture and more separated wallet structures, according to the company.

Zhou has argued publicly that the post-hack overhaul made the exchange stronger, and Bybit’s proof-of-reserves reporting has continued through 2026. Whether Turkish regulators view that history as resolved will matter for the licensing path ahead.

The super app race

Bybit is not alone in chasing the super app label. Crypto exchanges worldwide are converging on the same thesis: that trading is the entry point, not the destination, and that payments, cards, tokenized stocks and remittances are where customer relationships deepen. Türkiye — young, digitally fluent, and crypto-heavy — is a natural battleground.

Local incumbents and global rivals are circling the same prize. Binance operates a significant Turkish business, local platforms have expanded fiat rails, and payment processors are embedding stablecoin settlement into merchant infrastructure. If Bybit secures the licenses it needs, its head start in derivatives liquidity could give it a genuine edge in the broader financial-services fight.

For now, Bybit’s Turkish users can trade crypto. The payments rails, stock access and corporate services will arrive only as fast as Ankara’s licensing machinery allows.