Bybit integrates ApeX Pro DEX

Key points: 

• Bybit has added DEX ApeX Pro to its offerings to allow customers to trade on both types of exchanges on one platform. 
• It was brought to the Bybit platform through its Web3 wallet, a hybrid wallet similar to MetaMask that does not store any personal customer data.
• ApeX Pro is a permissionless, regulatory-free decentralized exchange offering perpetual contracts using Starkware's scalable engine.
• "Part of our mission is to be the trusted gateway for Web3, and this integration is an important step in that journey," Bybit CEO Ben Zhou said.
• Bybit will not participate in the operation of ApeX Pro, and both teams are independent.

Dubai-based centralized cryptocurrency exchange Bybit has added decentralized exchange ApeX Pro to its offerings to allow customers to trade on both types of exchanges on one platform, Bybit announced Thursday.

ApeX Pro is a permissionless, regulatory-free decentralized exchange (DEX) offering perpetual contracts using Starkware's scalable engine, StarkEx. It was brought to the Bybit platform through its Web3 wallet, a hybrid wallet similar to MetaMask that does not store any personal customer data.

Centralized exchanges (CEXs) have come under increased scrutiny recently after the once-trusty FTX was revealed to be a potential scam that cost thousands of users billions of dollars.

But the FTX debacle wasn’t why Bitby integrated ApeX Pro, which Bybit co-founder and CEO Ben Zhou said was “already well underway before the saga.”

"Part of our mission is to be the trusted gateway for Web3, and this integration is an important step in that journey," he said.

Earlier this week, Bybit announced it would cut a further 30% of its workforce as it seeks to rebalance its business amid a "deepening bear market".

Since ApeX Pro and Bybit are independent entities, Bybit will not participate in the operation of ApeX Pro, and both teams are independent. “ApeX Pro is a self-sufficient decentralized platform that does not require any additional resources from Bybit,” Zhou said.