Bybit EU Adopts Nasdaq's Market Surveillance Platform to Reinforce Compliance with MiCAR
Bybit, the world's second-largest cryptocurrency exchange by trading volume, has partnered with Nasdaq (NASDAQ:NDAQ) to implement its Market Surveillance platform for European operations. The technology will help Bybit EU comply with the Markets in Crypto-Assets Regulation (MiCAR) requirements and enhance market abuse detection.
Nasdaq's surveillance platform, which serves over 50 exchanges and 20 international regulators globally, offers real-time monitoring of over 60 billion crypto transactions daily. The system combines advanced pattern analytics with comprehensive market data to detect various forms of market manipulation, including layering, spoofing, and cross-market manipulation.
Bybit, la seconda piattaforma di scambio di criptovalute al mondo per volume, ha avviato una collaborazione con Nasdaq (NASDAQ:NDAQ) per adottare la sua piattaforma di sorveglianza di mercato nelle operazioni europee. La tecnologia aiuterà Bybit EU a rispettare i requisiti del Markets in Crypto-Assets Regulation (MiCAR) e a potenziare il rilevamento degli abusi di mercato.
La piattaforma di sorveglianza di Nasdaq, già utilizzata da oltre 50 borse e 20 autorità di regolamentazione internazionali, fornisce il monitoraggio in tempo reale di oltre 60 miliardi di transazioni cripto al giorno. Il sistema unisce analisi avanzate dei pattern a dati di mercato completi per individuare forme di manipolazione come layering, spoofing e manipolazioni cross-market.
Bybit, el segundo exchange de criptomonedas del mundo por volumen de negociación, se ha asociado con Nasdaq (NASDAQ:NDAQ) para implantar su plataforma de vigilancia de mercado en sus operaciones europeas. La tecnología ayudará a Bybit EU a cumplir con los requisitos del Markets in Crypto-Assets Regulation (MiCAR) y a mejorar la detección de abuso de mercado.
La plataforma de vigilancia de Nasdaq, que da servicio a más de 50 exchanges y 20 reguladores internacionales, ofrece monitorización en tiempo real de más de 60 000 millones de transacciones cripto al día. El sistema combina análisis avanzados de patrones con datos de mercado exhaustivos para detectar manipulaciones como layering, spoofing y manipulación entre mercados.
Bybit는 거래량 기준 세계에서 두 번째로 큰 암호화폐 거래소로, 유럽 운영을 위해 나스닥(NASDAQ:NDAQ)과 협력해 시장 감시 플랫폼을 도입합니다. 이 기술은 Bybit EU가 Markets in Crypto-Assets Regulation(MiCAR) 요구 사항을 준수하고 시장 남용 탐지를 강화하는 데 도움을 줍니다.
나스닥의 감시 플랫폼은 전 세계 50개 이상 거래소와 20개 국제 규제기관에 서비스를 제공하며, 하루 600억 건이 넘는 암호화 거래를 실시간 모니터링합니다. 이 시스템은 고급 패턴 분석과 포괄적인 시장 데이터를 결합해 레이어링, 스푸핑, 교차시장 조작 등 다양한 형태의 시장 조작을 탐지합니다.
Bybit, la deuxième plus grande plateforme d'échange de cryptomonnaies au monde en volume, s'est associée à Nasdaq (NASDAQ:NDAQ) pour déployer sa plateforme de surveillance des marchés pour ses opérations en Europe. Cette technologie aidera Bybit EU à se conformer au Markets in Crypto-Assets Regulation (MiCAR) et à renforcer la détection des abus de marché.
La plateforme de surveillance de Nasdaq, qui dessert plus de 50 places et 20 régulateurs internationaux, propose une surveillance en temps réel de plus de 60 milliards de transactions crypto par jour. Le système combine des analyses avancées de motifs avec des données de marché complètes pour détecter des manipulations telles que le layering, le spoofing et la manipulation inter-marchés.
Bybit, die nach Handelsvolumen zweitgrößte Kryptowährungsbörse der Welt, hat eine Partnerschaft mit Nasdaq (NASDAQ:NDAQ) geschlossen, um dessen Marktüberwachungsplattform für die europäischen Aktivitäten einzuführen. Die Technologie wird Bybit EU dabei unterstützen, die Anforderungen der Markets in Crypto-Assets Regulation (MiCAR) zu erfüllen und die Erkennung von Marktmissbrauch zu verbessern.
Die Überwachungsplattform von Nasdaq, die bereits mehr als 50 Börsen und 20 internationale Aufsichtsbehörden bedient, bietet Echtzeitüberwachung von über 60 Milliarden Krypto-Transaktionen täglich. Das System kombiniert fortschrittliche Musteranalytik mit umfassenden Marktdaten, um Formen der Marktmanipulation wie Layering, Spoofing und grenzüberschreitende Manipulation zu erkennen.
- Partnership with Nasdaq enhances Bybit's market surveillance capabilities and regulatory compliance
- Access to Nasdaq's proven technology platform that serves 97% of globally systemically important banks
- Real-time monitoring capability of over 60 billion crypto transactions per day
- Platform's modular architecture supports Bybit EU's expansion plans
- Indicates increasing regulatory scrutiny and compliance costs in crypto markets
- Suggests current compliance programs in crypto markets may be inadequate compared to traditional markets
Insights
Nasdaq expands its regulatory tech footprint in crypto markets through Bybit partnership, strengthening its SaaS revenue stream amid growing digital asset compliance demands.
Nasdaq's strategic expansion into cryptocurrency market infrastructure continues with Bybit adopting its Market Surveillance platform for MiCAR compliance. This partnership with the world's second-largest crypto exchange significantly validates Nasdaq's regulatory technology capabilities in the emerging digital asset space.
The deal showcases Nasdaq's diversification strategy beyond traditional exchange operations into higher-margin SaaS offerings. The Market Surveillance platform—already used by over 50 exchanges and 20 international regulators—represents Nasdaq's ability to leverage decades of market integrity expertise into new revenue streams.
This partnership addresses the growing regulatory compliance burden in cryptocurrency markets, particularly in Europe where MiCAR implementation is creating substantial technology needs. By monitoring over 60 billion crypto transactions daily, Nasdaq's platform helps Bybit detect sophisticated manipulation schemes including cross-market manipulation, layering, spoofing, and liquidity exploitation.
For Nasdaq investors, this agreement represents continued execution on the company's strategy to expand its technology footprint across financial services. The SaaS deployment model enables recurring revenue while the regulatory technology focus positions Nasdaq to benefit from increasing global cryptocurrency regulation. This aligns with Nasdaq's broader presence across 3,800+ financial services clients, including 97% of globally systemically important banks and half of the world's top 25 stock exchanges.
Institutional-grade technology will enhance the integrity of the world's second-largest cryptocurrency exchange
Surveillance platform combines advanced pattern analytics with comprehensive market data to meet MiCAR obligations
Operating under the company's Bybit EU entity, the technology helps ensure ongoing compliance with the EU's Markets in Crypto-Assets Regulation (MiCAR), which compels digital asset exchanges to implement rigorous surveillance and reporting requirements. The modular and flexible architecture of Nasdaq's surveillance platform will support Bybit EU's ongoing expansion, enabling rapid compliance with local regulatory obligations.
"This agreement demonstrates our commitment to providing secure, transparent, and fully compliant digital asset trading as we continue to grow our business," said Mazurka Zeng, Managing Director and CEO of Bybit EU. "We welcome the opportunity to partner with Nasdaq, whose innovative technology and unparalleled surveillance expertise, help safeguard the resilience and integrity of our marketplace."
"MiCAR is driving a step change in investor protection across digital asset markets, but many compliance programs are still failing to match the level of investor protection offered by traditional markets," added Ed Probst, Head of Regulatory Technology at Nasdaq. "We welcome the opportunity to partner with Bybit EU, who recognize the benefits of incorporating comprehensive market data into its surveillance framework to protect against critical threat scenarios. We look forward to building on this relationship and remain committed to advancing trust and resilience across the digital asset ecosystem."
Building trust in digital markets
Nasdaq Market Surveillance is the most widely used market surveillance technology globally, serving over 50 exchanges and 20 international regulators, helping to maintain the integrity of marketplaces around the world. The platform incorporates tailored features and alerts for crypto markets alongside sophisticated algorithms developed over 30 years of experience. It also benefits from Nasdaq's ongoing investment in both R&D and the underlying technology infrastructure to define industry best practice and maintain compliance with evolving global regulations.
The platform offers access to comprehensive order book data to support real-time decision-making, which is emerging as a critical frontier to prevent and detect market abuse in crypto markets. While certain behavioral indicators can signal potential manipulation, prevention requires exchanges to combine pattern-recognition algorithms with comprehensive market data, overlaid with alerts tailored to specific mechanics of each market. It helps significantly reduce false positives and detect cross-market manipulation, timing-based violations, layering & spoofing, liquidity exploitation and currency & commodity manipulation. Additional functionality includes:
- Real-time, 24/7 monitoring of over 60 billion crypto transactions per day
- Integrated control framework with data quality reporting, audit, and case management
- Ability to monitor currency pairs trading and fractional volumes trading
- Availability of all historical market data including full-depth order book visual replay and reconstruction
- SaaS-deployed to enable regular product upgrades and enhancements
Around the world, Nasdaq's technology is used by
About Nasdaq
Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on LinkedIn, on X @Nasdaq, or at www.nasdaq.com.
About Bybit EU
Bybit EU GmbH is the newly established European entity, dedicated to serving clients across the European Economic Area (EEA"*" except
Bybit EU GmbH is a licensed Crypto-Asset-Service Provider under the Markets in Crypto Assets Regulation (MiCAR), authorized to offer the following services to residents of the European Economic Area (except
- providing custody and administration of crypto-assets on behalf of clients;
- exchange of crypto-assets for funds;
- exchange of crypto-assets for other crypto-assets;
- placing of crypto-assets; and
- providing transfer services for crypto-assets on behalf of clients.
Bybit EU GmbH is neither the operator of a trading platform for crypto-assets nor provides investment advice. www.bybit.eu
Cautionary Note Regarding Forward-Looking Statements:
Information set forth in this press release contains forward-looking statements that involve a number of risks and uncertainties. Nasdaq cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information. Forward-looking statements can be identified by words such as "will," "enable" and "can" and other words and terms of similar meaning. Such forward-looking statements include, but are not limited to, statements related to the benefits of Nasdaq's Market Surveillance technology solution. Forward-looking statements involve a number of risks, uncertainties or other factors beyond Nasdaq's control. These risks and uncertainties are detailed in Nasdaq's filings with the
View original content to download multimedia:https://www.prnewswire.com/news-releases/bybit-eu-adopts-nasdaqs-market-surveillance-platform-to-reinforce-compliance-with-micar-302540755.html
SOURCE Bybit
FAQ
What is the significance of Bybit adopting Nasdaq's Market Surveillance platform?
How widely used is Nasdaq's Market Surveillance technology in global markets?
What types of market manipulation can Nasdaq's surveillance platform detect for Bybit?
How will this partnership affect Bybit's European operations?
What key features does Nasdaq's Market Surveillance platform offer to Bybit?
