Emily Bao, Head of Spot Trading at Bybit, shared her vision of the cryptocurrency industry undergoing a natural convergence between centralized exchanges (CEX) and decentralized exchanges (DEX). According to Bao, the blurring lines between CEX and DEX create opportunities for innovation, allowing users to combine the advantages of both models.
Bridging Centralized and Decentralized Platforms
Bao, who is also the founder of Byreal and a key advisor to Mantle, highlighted Bybit’s perspective on the sector’s transformation. She emphasized the complementary strengths of centralized and decentralized platforms:
“Centralized exchanges remain the cornerstone of the crypto ecosystem, controlling the majority of active users and providing the deepest and most reliable liquidity. Yet perception matters. While CEX operate within private infrastructures, DEX are seen as embodiments of transparency and open-source principles that define blockchain technology.”
She noted that this convergence offers unprecedented opportunities for innovation. Users can access DeFi projects directly through CEX while benefiting from CeDeFi products on decentralized protocols, combining the best of both worlds.
Opportunities in a Transforming Market
Bao explained that as the boundaries between CEX and DEX continue to fade, users gain broader access to protocols and services. Today, traders can leverage DeFi products on centralized platforms while also interacting with decentralized protocols that replicate traditional DeFi features.
“There are numerous opportunities today, and we see a convergence between CEX and DEX. Users can access DeFi projects through a centralized exchange while also utilizing CeDeFi products, similar to traditional decentralized protocols,” she said.
Bybit’s Global Presence
Bybit, the world’s second-largest crypto exchange by trading volume, serves a global community of over 70 million users. Founded in 2018, the exchange has been redefining openness in the decentralized space, striving to create a simpler, more transparent, and equitable ecosystem for all participants.
