Bybit Debuts Its First On-Chain DEX Byreal on Solana

• Bybit introduces Byreal, a Solana-based on-chain DEX combining CEX-grade liquidity and DeFi transparency through hybrid routing.
• Byreal testnet goes live June 30, while mainnet is planned for Q3 2025 with added features like bbSOL yield vaults.

Bybit officially introduces its latest project called Byreal, the first on-chain DEX incubated directly by the exchange. Unlike most DEXs, Byreal is built on the Solana blockchain, which is known for being fast and cheap, and promises a unique combination of CEX-style liquidity and DeFi-style transparency.

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

Blending Speed and Transparency With a Hybrid Trading Model

If we usually have to choose between speed and decentralization, this time Bybit is trying to unite them through one path. They rely on a hybrid routing system that combines RFQ (Request-for-Quote) and CLMM (Concentrated Liquidity Market Maker). The hope is that users can enjoy trading with low slippage, are resistant to MEV, and remain agile in execution.

The testnet launch is scheduled for June 30, 2025, while the mainnet is projected to be present in the third quarter of this year. In addition, users will also be able to try yield vaults such as bbSOL, which is Bybit’s liquid version of the SOL staking token.

Bybit Doubles Down on Regulation and Real-World Access

Interestingly, the launch of Byreal is part of a new direction that Bybit has taken since closing some of its Web3 services such as NFT, IDO, and inscription in early April, as we have highlighted. At that time, they realized that user activity and trading volume on these services were getting quieter. Rather than maintaining a half-way product, Bybit chose to reprioritize.

Not only that, they also seem to be getting more serious about treading the path of regulation and global adoption. In early June, Bybit officially obtained a MiCAR license from the Austrian Financial Market Authority (FMA). With this license, they can legally operate in 29 EEA countries, and will even open a regional headquarters in Vienna, complete with plans to recruit more than 100 staff.

On the other hand, they are also expanding their reach to Central Asia. On June 2, Bybit announced a partnership with Bank CenterCredit in Kazakhstan. This exchange wants to open a smoother fiat-crypto channel for local residents. Now users there can buy and sell crypto directly through the traditional banking system.

If you think that’s enough, wait a minute. CNF also previously reported that Bybit has partnered with Avalon Labs to launch a Bitcoin-based fixed income product on-chain, using a stable loan system. Avalon is even expanding its ecosystem through the AVL token and plans to bring Bitcoin-based products under the regulatory umbrella of the United States.

For many observers, Bybit’s move through Byreal can be considered quite bold. They are not just following the DEX trend, but are trying to improve the way DEX itself works. It’s like combining the convenience of riding in a private car with the price of a bus ticket.