Yoyee Wang is the newly appointed Head of the Business-to-Business Unit (BBU) at Bybit, the world’s second-largest exchange by trading volume. As a recognized thought leader with a unique perspective, Yoyee is merging crypto-native innovation with over a decade of experience in traditional banking and asset management, including her prior roles at the Royal Bank of Canada.
How are the needs of institutional investors in the digital asset space evolving, and what new priorities are emerging?
Institutional investors are no longer asking whether digital assets belong in their portfolio. Instead, the conversation has shifted to how they fit into broader asset allocation strategies.
With clearer regulatory frameworks emerging globally, institutions are now prioritising market risk, capital efficiency, diversification, and yield generation. There is no “too big to fail” or circuit breaker in crypto. They want crypto exposure to complement traditional portfolios, not replace them. This means demand is growing for regulated custody, compliant tokenised products, and robust liquidity solutions that mirror traditional finance while unlocking new opportunities unique to digital assets.
What are the main challenges institutions still encounter when entering crypto, and how is Bybit working to address them?
Institutions remain cautious about unforeseen risks, including compliance gaps such as KYB, sanctions exposure, counterparty concentration, and idiosyncratic risks specific to crypto trading. At Bybit, we built our dedicated B2B Institutional Unit precisely to remove these pain points.
We provide well-trained, dedicated relationship managers who act as strategic partners, guiding institutions through the onboarding and integration journey. We are also investing in off-exchange custody and tri-party settlement models, giving clients the confidence to trade while holding assets with trusted custodians. By embedding compliance and security into every solution, we help clients enter the market with confidence and long-term stability.
How does Bybit’s B2B strategy balance the speed of innovation with the need for security and compliance?
At Bybit, our core values are to listen, care, and improve. Our innovation is always purposeful, with every product designed to deliver comfort, confidence, and compliance for institutional clients.
Security and regulatory alignment are built into the foundation of our solutions, from our custody frameworks to tokenised products. By doing so, we strike the right balance: institutions gain access to cutting-edge opportunities without compromising on the safeguards they expect from traditional finance.
What opportunities do you see in the tokenisation of RWAs, and what must happen to unlock meaningful adoption?
The tokenisation of real-world assets (RWAs) is a structural bridge between traditional finance and digital assets. The adoption of tokenised U.S. Treasuries, money market funds, and receivables has already proven that institutions want safe, yield-bearing instruments that can be deployed in digital markets.
Bybit’s collaboration with QNB Group and DMZ Finance to bring QCDT, the world’s first DFSA-approved tokenised money market fund, onto our platform as collateral is a prime example. It provides institutions with regulatory clarity, capital efficiency, and risk-managed access to the crypto economy. For broader adoption, we need to scale compliant issuance and build trust through partnerships with leading TradFi players.
How is Bybit helping enterprises integrate digital assets into their operations while managing counterparty and market risks?
Our approach is to demonstrate value practically, as the crypto lexicon can be confusing for enterprises coming from traditional finance. We help them understand the value of digital assets for their business, how to utilize them, and the steps to achieve this.
Bybit is well-positioned to address and demonstrate all these points, providing a concrete understanding of the benefits, costs, required development, and licenses. We also clarify the risks involved and outline the tools and services we offer to help manage them. This creates a customised, one-stop-shop experience where clients can select the solutions that fit their needs.
What role do partnerships with TradFi institutions play in strengthening Bybit’s B2B offerings?
Partnerships with leading traditional financial institutions are essential to Bybit’s role as the trusted bridge between TradFi and crypto. While the adoption curve is still in its early stages, our collaborations demonstrate the significant progress that can be achieved when both sides work together. For example, our recent partnership with QNB Group and DMZ Finance to accept QCDT as collateral opened the door to up to $1 billion in borrowing capacity, unlocking fresh institutional liquidity for the digital asset ecosystem. These collaborations are not just proof points but also the foundation for broader adoption and innovation in the years to come.
How do you measure success for the B2B unit?
We understand that value is defined by our client’s specific objective, so we tailor our metrics to their success. Depending on their goal, we measure the value we bring in three primary ways:
- If the client’s goal is simply to allocate capital to crypto, we measure our success by the Assets Under Management (AUM) brought onto the platform.
- If the client aims to generate higher returns from trading, we measure value through their executed trading volumes.
- If the client wants to leverage crypto products to attract new users, we measure the partnership’s success by the new users they gain through the integration.
Ultimately, we are a business focused on our clients’ success, and their success marks our own.
Where do you see institutional demand heading over the next year, and what is Bybit doing to stay ahead of that curve?
We expect to see broader and clearer regulations worldwide, which will empower institutions to act with greater certainty. This regulatory clarity will accelerate institutional adoption, opening the door to deeper capital allocation, more innovative use cases, and greater integration between traditional and digital markets.
Bybit is preparing for this future by building compliant infrastructure, expanding RWA tokenisation partnerships, and strengthening custody and settlement solutions. In doing so, we ensure that when institutions are ready to scale their digital asset strategies, Bybit is already there to meet their needs.