Bybit Expands in India with Crypto Card Plans

Bybit is betting big on India. The world’s second-largest crypto exchange by trading volumes has launched a clear strategy to win over users in the country. Its plan includes team expansion, stronger user growth, and a future crypto card in India.

The exchange re-entered the market after registering with the Financial Intelligence Unit—India (FIU-IND) as a Virtual Digital Asset Service Provider (VDASP). Since then, it has seen rising demand and fresh momentum.

User Growth After Comeback

Bybit restarted its app and website in September 2025. Since then, the exchange has seen three times more new sign-ups each day. According to Michelle Daura, Head of Regulated Expansion Regions, many users returned quickly after Bybit’s relaunch.

However, Bybit is engaging with them to provide clarity. The company believes this direct approach will help it rebuild trust and scale further.

Meanwhile, India continues to lead the world in crypto adoption. The Chainalysis Global Crypto Adoption Index 2025 ranked India at the top for the third year in a row. This global ranking makes the country a key focus for major exchanges such as Binance, Coinbase, and KuCoin.

Why the Ban Happened

In late 2023, India blocked nine offshore crypto exchanges, including Binance and KuCoin. The government acted because these platforms were not registered with FIU-IND and were not aligned with the Prevention of Money Laundering Act (PMLA).

As a result, their websites were blocked, and their apps were removed from Google and Apple app stores. Bybit was part of this group, which led to a major loss in Indian traffic and sign-ups. Its recent comeback now gives it a fresh start.

Team Expansion in India

Currently, Bybit has only four to five employees in India, including a country manager, a salesperson, and a few in marketing. It also has compliance staff working in the background.

However, Daura confirmed that Bybit will expand its hiring soon. The exchange plans to bring in professionals for sales, compliance, anti-money laundering (AML), taxation, and TDS. This expansion will support both retail and institutional users.

Crypto Card in India

Alongside user growth, Bybit wants to introduce a crypto card in India. The product would work like a debit card, allowing users to spend crypto directly at merchants without complex conversions.

Bybit plans to work with both the Reserve Bank of India and the FIU to study compliance and make the card viable. Although the launch may take time, the exchange believes this innovation will connect crypto with traditional finance.

Regulatory Outlook

Bybit says India’s regulatory approach is improving. Regulators are now more open to dialogue and cooperation. Daura noted that regulators in the US and Europe have already built stronger crypto frameworks, and India is moving in that direction.

However, she also highlighted a gap: even after FIU approval, banks remain cautious. This limits services for users and slows adoption. By contrast, markets like the UAE and Europe offer a more connected approach, where banks, regulators, and exchanges work together.

Despite these hurdles, Bybit remains optimistic. With India’s scale and rising adoption, the exchange sees massive opportunities for growth.

Conclusion

Bybit’s comeback highlights its strong focus on India. Through team expansion, user growth, and plans for a crypto card in India, the exchange wants to stay ahead of competition. If regulations keep improving, Bybit could become a leading force in India’s fast-growing crypto market.

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