Bybit to Cease Most Web3 Services

Exchange Bybit announced the closure of most of its Web3 services. The company plans to halt activities in several areas by the end of May.

According to the statement, from May 31, Cloud Wallet and Keyless Wallet, the multichain platform DEX Pro, and the cross-chain swap widget Swap & Bridge will become unavailable.

On April 28, the exchange will also disable the Web3 Points loyalty program, which offered discounts on fees and other bonuses for network activity.

The company stated that the changes will help focus on key products.

Earlier in April, Bybit closed its NFT marketplace, Inscription Marketplace platforms, and IDO.