Bybit Enhances Security with Off-Exchange Settlement via Cactus Custody

Bybit has announced a strategic partnership with Cactus Custody, a licensed digital asset custodian under Matrixport Group, to introduce an innovative off-exchange settlement system named Cactus Oasis. This institutional-grade solution is designed to mitigate counterparty risk by eliminating the need for pre-funded exchange accounts, ensuring assets remain securely locked in custody until trade execution. The integration, scheduled to go live on July 28, 2025, is particularly aimed at hedge funds and proprietary trading firms seeking enhanced security and efficiency in their trading operations. This move underscores Bybit's commitment to providing robust and secure trading solutions in the rapidly evolving cryptocurrency landscape.

Bybit Introduces Off-Exchange Settlement with Cactus Custody to Mitigate Counterparty Risk

Bybit has partnered with Cactus Custody, a licensed digital asset custodian under Matrixport Group, to launch an off-exchange settlement system called Cactus Oasis. This institutional-grade solution eliminates the need for pre-funded exchange accounts, keeping assets locked in custody until trade execution. The integration, set to go live on July 28, targets hedge funds and proprietary trading firms wary of counterparty risks in crypto markets.

The system combines SOC 2-audited cold storage with real-time compliance checks, addressing one of crypto's oldest vulnerabilities. This MOVE follows a $1.5 billion hack earlier this year, positioning the partnership as both a structural safeguard and reputational rebuild for Bybit.

Bybit's integration with Cactus Custody represents a fundamental shift in how exchanges manage risk. Assets remain under Cactus Custody's control until the moment of trade execution, only moving to Bybit for final settlement. This approach could significantly reduce capital inefficiencies and counterparty exposure for institutional traders.

Bybit Integrates Web3 Crypto Lifestyle into Careem App with MENA Campaign

Bybit, the world's second-largest cryptocurrency exchange by trading volume, is expanding its Web3 ecosystem through a strategic partnership with Careem, MENA's leading super app. The campaign marks a significant step in bridging Web2 and Web3 adoption across entertainment, transportation, and retail sectors.

The initiative embeds crypto rewards into everyday experiences—from ride-hailing to dining—positioning digital assets as competitive alternatives to traditional payment methods. Bybit's native token and trading pairs gain visibility through targeted in-app promotions during the region's peak summer season.