Oxido Solutions and Bybit Strengthen Partnership

Inside the C-Level Meeting Between Helen Liu and Guido Lassally

On Monday, June 17, 2024, I had the pleasure and privilege of meeting Helen Liu at Bybit Fintech Limited 's Dutch headquarters, which is also home to their subsidiary, SATOS . Helen, the COO of Bybit, is part of the top management team of this top-3 crypto exchange. The meeting was set up by Pelayo Pérez González , Bybit's Senior manager VIP relationships, with whom we work closely alongside Felipe Gallino and Melanie Abplanalp . Oxido Solutions is actively involved with Bybit, offering our Bybit trading bot solutions as a software service to UHNWIs and institutions, and we're also part of their market maker program. We aimed to understand Bybit's key priorities relevant to us as trading bot solution providers and explore how we can elevate our partnership.

Key Priority 1: Attracting More Institutional Clients

According to Helen, Bybit currently serves around 300 institutional clients. To grow this number and the associated trading volume, Bybit plans to integrate with more third-party custodians beyond Copper.co and Fireblocks . This integration allows institutional clients to deploy capital and trade on Bybit while keeping their assets safely in independent custody. It also enables clients to increase allocations, reduce counterparty risk, and optimize capital efficiency. Bybit's strategy anticipates rising demand for diverse asset custody options and signals a renewed focus on high-net-worth individuals and institutional clients.

Bybit's CEO Ben Zhou , with whom Helen closely works, highlighted the impact of partnering with third-party custodians during the recent Blockchain Live event in Dubai: "Since partnering with third-party custodians, institutional capital flows increased by 186% last year.”

For Oxido Solutions, this development is positive as it can lead to more liquidity from institutions using our Bybit trading bot solutions (view performance per risk level). It also strengthens our proposition by operating in an institutional-grade trading environment.

Key Priority 2: Expanding the Asset Management Program

Bybit's newly launched Asset Management Program aims to connect asset managers and institutional investors. Skilled asset managers with expertise in wealth and risk management strive to deliver desired profits while controlling risks. This program appeals to investors seeking steady asset growth.

Oxido Solutions' trading bot strategy meets these requirements. One of our dear clients, Michael Kart of VLG Digital, recently praised our performance, saying:

"I just had a look at your YTD performance data and must say you're showing exceptional metrics (realized Sharpe of 5.9), beating the entire space by a wide margin…".

Oxido Solutions has recently joined Bybit’s Asset Management Program. In this context, Felipe recently made an excellent introduction for us to an allocator, which we greatly appreciate.

Key Priority 3: Expanding Country Managers

Bybit plans to appoint country managers in each major market to better serve the local crypto audience. In the Netherlands, a new country manager has been appointed. Based on my first impression, I believe this person is well-suited to lead Bybit’s efforts in the Dutch market, competing with Bitvavo the largest retail crypto platform in the Netherlands. Note: Bitvavo isn't a viable platform for Oxido Solutions as our bots trade only in crypto derivatives, which Bitvavo doesn’t support.

Like Oxido Solutions, LATAM is also a key growth market for Bybit. Therefore, the crypto exchange recently appointed country managers for Argentina and Brazil. Right after the meeting, Helen connected me with André Luiz Sprone Batista , who will work with me and our Brazilian representative Henrique Marinho to capture the Brazilian market with our Bybit trading bots. Henrique and I are excited about this Latin American venture.

Key Priority 4: Obtaining More Crypto Licenses

Bybit is working on obtaining crypto licenses in various countries and regions. While I promised Helen not to disclose exact details, I can say I am impressed with Bybit’s approach. More licenses mean Bybit is here to stay, attracting more market participants and contributing to more liquidity and capital for trading with our Bybit bots.

We look forward to continuing and expanding our successful partnership with Bybit. Let’s go!

P.S. Helen, the luxury chocolates from Dubai by Mansour Group 's chocolate brand are delicious. I'm on my way to London and fear my wife and kids will have eaten them all by the time I get back to Amsterdam. I'm feeling some FOMO, which, as a disciplined algo trader, I really shouldn’t have ;)