Bybit, the world’s second-largest cryptocurrency exchange by trading volume, outlined its vision for a unified crypto industry at the recent Blockchain Life 2025 forum. The Dubai-based event, which broke records with 16,730 attendees from 130 countries, served as the backdrop for Bybit’s message on bridging the gap between centralized and decentralized finance.

The Evolution of Crypto Exchanges

In a session titled “DEX vs CEX: Evolution of Exchange and New Competition,” Emily Bao, Bybit’s Head of Spot, argued that the industry’s future lies in collaboration rather than competition. She highlighted the complementary strengths of both centralized exchanges (CEXs) and decentralized exchanges (DEXs), noting a cultural shift among traders and institutions.

Bao explained that while CEXs remain the cornerstone of the market by providing deep, reliable liquidity to the majority of active users, their private infrastructure can be a point of concern. In contrast, DEXs are often seen as the true embodiment of blockchain’s transparent and open-source principles.

According to Bao, this perceived dichotomy is creating significant opportunities for innovation. She emphasized that the industry is witnessing a natural convergence where the lines between CEX and DEX are becoming increasingly fluid. This trend, she stated, will ultimately benefit users by offering them the best of both worlds.

“Users today can now access DeFi projects and protocols directly through CEXs, while simultaneously enjoying CeDeFi products on decentralized protocols,” Bao noted, pointing to a future where accessibility and transparency coexist seamlessly.

Bybit’s Impact at Blockchain Life 2025

The 15th edition of the conference solidified Dubai’s status as a global crypto hub, with over 160 speakers from leading firms like Tether, Mastercard, Ripple, and Google Cloud. Discussions covered digital assets, Web3 insights, and the future of decentralization.

Bybit’s presence was a major draw, with its booth attracting over 2,000 visitors from partner organizations, tech communities, and other institutions. The company also engaged with attendees through giveaways, distributing exclusive merchandise to more than 400 participants during the two-day event.

About Bybit

Founded in 2018, Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 70 million users globally. The platform aims to create a simpler and more open ecosystem for all participants. With a strong focus on Web3, Bybit partners with leading blockchain protocols to provide robust infrastructure and support on-chain innovation. The exchange is known for its secure custody, diverse marketplaces, and advanced tools that help bridge the gap between traditional and decentralized finance.