Cryptocurrency trading platform Bybit officially announced on Thursday that Chinese expats will be able to open accounts and trade digital assets using its service.

"Bybit, one of the world’s top three crypto exchanges by volume, is pleased to announce the expansion of our service offerings to the overseas Chinese community," the company said in a statement. "This move is in response to the growing demand for secure, reliable, and user-friendly cryptocurrency trading platforms among Chinese expatriates and international Chinese communities."

The announcement follows reports on Wednesday that Bybit had perhaps enabled registration and authentication services for users residing in China, long considered a restricted jurisdiction. Bybit did not respond to requests for comment.

"Overseas Chinese users will now be able to register and open accounts on the Bybit platform, enjoying the same benefits as our existing user base," the company said in its statement. "Bybit remains committed to adhering to all applicable regulations in the markets we operate in," it also said, adding that it hopes to operate in Hong Kong, UAE and the EU eventually.

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