Bybit launches new self-custody product to provide greater security & control

credit: Shutterstock
credit: Shutterstock

Cryptocurrency exchange Bybit has launched a new self-custody product that enables users to securely control their digital assets. 

The Bybit Keyless Wallet removes the need for private keys and third-party trust by integrating Multiparty Computation technology to automate the login process seamlessly. 

This solution removes the manual friction of memorising or storing private keys by securing private information in enclaves which bolsters security. The Keyless Wallet also uses three-factor authentication to ensure maximum security. 

CertiK, a security and analytical platform, has been enlisted to audit Bybit’s new solution by gaining oversight of blockchain and DeFi protocols. 

Speaking at last year’s Tbilisi Silk Road Forum in Georgia, Bybit CEO Ben Zhou emphasised the importance of rebuilding trust in the crypto and wider digital asset space. 

He stated: “As we stand at the intersection of fintech and crypto innovation, the world is witnessing a transformative journey. Bybit is committed to being an infrastructure player, building the bridge and road that connects people to the web3 future.

“Our mission is to empower individuals, businesses, and economies to thrive in this dynamic landscape. We don’t build the city, but we take people to the city, where the limitless potential of blockchain and cryptocurrency awaits.”