Cryptocurrency exchange Bybit has announced plans to launch its first on-chain decentralized exchange (DEX), named Byreal, in the third quarter of 2025.
The Byreal DEX will be built on the Solana blockchain, and its testnet version is expected to go live by the end of June.
The blockchain selection appears to have been well-received by the market, as SOL, Solana’s native token, surged over 7% following the announcement.
“Not Just Another DEX”: Bybit’s First-Ever Solana Exchange Coming Q3 2025
In a June 15 post on X, Bybit CEO Ben Zhou stated that Byreal isn’t “just another DEX,” explaining that it combines “CEX-grade liquidity with DeFi-native transparency.”
Zhou added that the hybrid DEX would feature unified liquidity and speed and be designed with RFQ + CLMM routing.
Request for Quote (RFQ) is a process whereby buyers or sellers request price quotations from potential suppliers or service providers to identify the best available price.
With Byreal built on Solana, the DEX can request cryptocurrency prices from platforms like Raydium, Jupiter, and Meteora, enabling traders to select optimal pricing.
Concentrated Liquidity Market Maker (CLMM) is a type of Automated Market Maker (AMM) used in decentralized finance (DeFi) that allows liquidity providers to allocate capital within specific price ranges rather than across the entire price spectrum.
According to Zhou, Byreal is designed to provide users with low-slippage and MEV-protected swaps at high speed.
The Byreal team stated that the upcoming DEX is built to “turn fragmented liquidity into unified opportunity.”
The testnet is scheduled to launch on June 30, with the mainnet planned for Q3 2025.
How Bybit Just Unlocked Gold, Stocks & Forex Trading
The Byreal announcement comes just two days after Bybit officially enabled users to trade gold, stocks, forex, and indices directly through the Bybit app.
CEO Ben Zhou first revealed this new feature during a May 3 live stream. The crypto exchange has now expanded beyond digital assets to offer trading in blue-chip U.S. stocks such as Apple and MicroStrategy, along with commodities such as gold and crude oil.
These expansions have contributed to Bybit’s rise as the world’s second-largest cryptocurrency exchange by trading volume.
Recently, the Dubai-based crypto exchange established its European presence after receiving a Markets in Crypto-Assets Regulation (MiCAR) license from Austria’s Financial Market Authority (FMA).
This approval positions Bybit to offer regulated cryptocurrency services across 29 European Economic Area countries, potentially reaching up to 500 million users.
Why Byreal DEX News Could Push Solana Past $250
Solana’s price has responded positively to the Byreal DEX announcement.
Over the past 24 hours, SOL jumped 7.9% from an intraday low of $144.36 to trade at $156.53 at press time.
This surge has created a bullish pattern that mirrors the 2024 setup that preceded SOL’s rally to $250, increasing market optimism that $SOL might break past the $200 psychological resistance level soon.
Another contributing factor is growing speculation about potential U.S. ETF approvals for cryptocurrencies.
Eric Balchunas, an ETF analyst at Bloomberg, has suggested that the SEC might approve cryptocurrency ETFs tracking altcoins like Solana as early as next month.
According to prediction market Polymarket, approval odds for a SOL ETF have climbed to 92%.
The post SOL Surges 7% as Bybit Prepares to Launch Major Solana-Based DEX ‘Byreal’ appeared first on Cryptonews.
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