Bybit to Launch Hybrid Solana Exchange Byreal

Cryptocurrency exchange Bybit has announced the launch of Byreal, a hybrid DEX offering “centralized platform-level liquidity.”

Announcing Byreal — our first onchain DEX incubated by Bybit, will be LIVE by end of the month. Starting from scratch and now born on Solana. what’s special: 1/ CEX + DEX synergy Byreal isn’t “just another DEX.” It’s combining CEX-grade liquidity with DeFi-native transparency.… https://t.co/JU60e4zHQ4

— Ben Zhou (@benbybit) June 15, 2025

According to the company’s head, Ben Zhou, the Solana-based trading platform will feature high speed and protection against MEV.

The testnet launch is expected on June 30, with mainnet deployment slated for the third quarter.

Zhou explained that the new DEX employs RFQ-based routing and CLMM. He stated that such architecture is efficient, minimizing slippage and manipulation.

Plans also include launching a “new type” of token launchpad and yield “vaults” for crypto assets like bbSOL.

“CEX and DEX can work in harmony, enhancing each other,” shared Solana Foundation President Lily Liu.

The Rise of Non-Custodial Exchanges

DEXs are gaining popularity, with the share of non-custodial trading platforms exceeding 25% of CEX volumes, a record high.

Over the past 30 days, the cumulative turnover of decentralized exchanges reached $405 billion.

PancakeSwap leads the way, significantly outpacing former segment leader Uniswap — $132 billion versus $93 billion.

CEO of venture firm Hashed, Simon Kim, suggested that by 2028, DEXs will surpass CEXs in trading volume. He also described non-custodial platforms as the “core” of blockchain financial ecosystems.

In May, BNB Chain surpassed Ethereum and Solana in trading volume on decentralized exchanges.