Bybit, the second-largest cryptocurrency exchange by trading volume, has recently outpaced Binance in open interest on its XRP futures market. This achievement highlights Bybit's growing influence in the crypto space.

In addition to this milestone, Bybit has successfully expanded its operations to Kazakhstan. The exchange has obtained a full license to provide cryptocurrency trading services in the country. This move is part of Bybit's strategy to grow its global footprint.

Given these developments, Bybit is positioning itself as a competitive player against established giants like Binance, especially in the niche markets of specific cryptocurrency futures trading.