Franklin

Pacific

<p>At the 2026 Goldman Sachs Asia Pacific FinTech Conference, Bybit Co-founder and CEO Ben Zhou discussed the rapid shift of traditional financial assets to blockchain, emphasizing that atomic settlement and 24/7 trading will eliminate the limitations of legacy markets.</p>
<p>In a fireside chat moderated by Goldman Sachs’ Ken Tang, Zhou highlighted Bybit as a key infrastructure player in the crypto space. He argued that the current financial system is hindered by geographic constraints and delays, while tokenization enhances the efficiency of global asset movement.</p>
<p>With the tokenized Treasury market exceeding $2Bn and ongoing projects across Asia-Pacific and Europe, Zhou’s insights align with Goldman Sachs’ interest in evaluating tokenization and related crypto products, marking a significant interaction between the crypto exchange and the financial institution.</p>
<figure class="wp-block-image size-large"><img width="1024" height="582" src="https://tokenist.com/wp-content/uploads/2026/05/Screenshot-2026-05-25-at-12.46.06-1024x582.png" alt="With Ben Zhou, CEO of ByBit, appearing at the annual Goldman Sachs FinTech convention, the RWA space has received a welcome boost">
 <figcaption><a rel="noopener noreferrer nofollow">SOURCE: CoinGecko</a>
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<h2 class="wp-block-heading" id="atomic-settlement-and-t-2-elimination-the-structural-mechanism-behind-zhou-s-thesis">Atomic Settlement and T+2 Elimination: The Structural Mechanism Behind Zhou’s Thesis</h2>
<p>The T+2 settlement standard, which requires equity trades to clear two days post-execution, creates counterparty risk and capital lock-up that can be eliminated through tokenized infrastructure. Atomic settlement allows for simultaneous asset transfer and payment in a single on-chain transaction, reducing the need for central clearinghouses and the associated reconciliation delays.</p>
<p>Zhou views this shift as a structural redesign, predicting that many traditional financial assets will be tokenized, enhancing their transferability and efficiency. This is especially relevant for institutional participants facing intraday margin calls on assets tied up until T+2 clears.</p>
<p>It is no wonder that Goldman Sachs is increasingly interested in Stablecoins, as they play a crucial role in settlement mechanisms and are becoming integral to global value transfer. Zhou believes this infrastructure will eventually become seamless for users, much like TCP/IP on the internet. Bybit’s MyBank initiative aims to connect traditional banking with blockchain liquidity to tackle on-ramp issues that limit institutional trading volume.</p>
<h2 class="wp-block-heading" id="institutional-momentum-where-bybit-s-positioning-sits-in-the-rwa-landscape">Institutional Momentum: Where Bybit’s Positioning Sits in the RWA Landscape</h2>
<figure class="wp-block-image size-large"><img width="1024" height="519" src="https://tokenist.com/wp-content/uploads/2026/05/Screenshot-2026-05-25-at-12.44.56-1024x519.png" alt="With Ben Zhou, CEO of ByBit, appearing at the annual Goldman Sachs FinTech convention, the RWA space has received a welcome boost">
 <figcaption><a href="https://app.rwa.xyz/assets/BUIDL" rel="noopener noreferrer nofollow">SOURCE: rwa.xyz</a>
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<p>Bybit’s presence at Goldman Sachs coincides with the consolidation of the institutional RWA market among a few key players. BlackRock’s BUIDL fund quickly surpassed $500M in AUM after its March 2024 launch on Ethereum, with Franklin Templeton, Fidelity, and Ondo Finance also participating in the tokenized fund market.</p>
<p>Zhou emphasized that competition is now defined by regulatory compliance, institutional trust, and global distribution rather than just technology. Since its founding in 2018, Bybit has expanded its licensing in Europe and Asia, viewing compliance as a growth lever.</p>
<p>In parallel, the equities tokenization pipeline is progressing, as seen with Securitize’s partnership with NYSE and Galaxy Digital’s on-chain shareholder vote. Zhou’s vision for RWA expansion includes equities, commodities, and treasury instruments, aligning with these initiatives.</p>
<p>He noted that AI integration remains underutilized in existing RWA frameworks, with AI potentially managing trading and liquidity within financial systems, provided that governance and risk management standards are established.</p>
<h2 class="wp-block-heading" id="what-to-watch-goldman-sachs-tokenization-pilots-bybit-licensing-milestones-rwa-liquidity-depth-and-stablecoin-regulatory-frameworks">What to Watch: Goldman Sachs Tokenization Pilots, Bybit Licensing Milestones, RWA Liquidity Depth, and Stablecoin Regulatory Frameworks</h2>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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   <p>Bybit CEO Ben: Hyperliquid Is a Partner Not a Competitor<br><br>In an April 23 interview with When Shift Happens, Bybit CEO Ben Zhou <a href="https://twitter.com/benbybit?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@benbybit</a> said Bybit sees Hyperliquid more as a partner than a direct competitor. He said Bybit has not seen a large number of users actively leaving… <a href="https://t.co/hJmQ6vTrGu" rel="noopener noreferrer nofollow">pic.twitter.com/hJmQ6vTrGu</a></p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/2057944601324093678?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 22, 2026</a>
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<p>Goldman Sachs next step in tokenized assets, which could include a fund product, custody announcement, or trading pilot, will indicate whether Zhou’s appearance signals genuine institutional alignment. Solomon’s focus on tokenization suggests a product decision is being evaluated.</p>
<p>Bybit’s progress in securing licenses in the EU and Singapore will determine its appeal to asset managers and treasury desks. Achieving a licensing milestone or an institutional partnership in H2 2026 would support Zhou’s compliance argument from the conference.</p>
<p>In market structure, watch for RWA tokenized fund TVL to exceed $5Bn, which would enhance liquidity and reduce premium-discount volatility. Additionally, the progress of stablecoin regulations in the US, particularly the Lummis-Gillibrand framework, will influence the timeline for essential settlement infrastructure.</p>
<p><em>The author does not hold or have a position in any securities discussed in the article. All stock prices were quoted at the time of writing.</em></p>
<p>The post <a href="https://tokenist.com/bybit-ceo-goldman-sachs-tokenization-reshape-trading/" rel="noopener noreferrer nofollow">Bybit CEO at Goldman Sachs: Tokenization Will Reshape Trading ‘Faster Than Expected’</a> appeared first on <a href="https://tokenist.com" rel="noopener noreferrer nofollow">Tokenist</a>.</p>

Bybit CEO at Goldman Sachs: Tokenization Will Reshape Trading ‘Faster Than Expected’

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