UAE-based crypto exchange Bybit has launched the TradeGPT AI-powered trading assistant, a move that is in line with the company’s plans to become a Crypto Ark. While the conventional ChatGPT lacks access to real-time data and was last updated in September 2021, TradeGPT leverages Bybit's market data, trading analytics, and technical analysis tools.

This integration augments the AI model's capabilities by incorporating Bybit's extensive data resources. Bybit users can now access real-time market analyses and receive multilingual responses to their inquiries. TradeGPT fulfils the role of a mentor and guide in navigating the dynamic landscape of Web3.

For instance, it can provide insights into market strategies, including the likelihood of success, and recommend appropriate products tailored to these strategies. In the official press release, representatives from Bybit talked about this new product launch and emphasised the efforts put in by its analysts and tech team to design ToolsGPT to address the pressing need for financial education and mentorship in today's highly financialised environment. In essence, Bybit aimed to create a tool that provides much-needed help for newcomers to financial engineering and trading.

Moreover, Bybit is offering this solution free of charge, which is in line with its mission to establish itself as a comprehensive financial education hub and a pivotal player in the world of cryptocurrency. More information about Bybit and its recent developments Bybit has launched new products and services in 2023, including an AI programme that supports smart trading, as well as a new lending service. The Tools Discovery AI programme was launched in April 2023 and represented one of the first AI systems of its kind on the cryptocurrency market according to Yahoo.

The system uses back-tested data to suggest strategies that respond to current market conditions, enabling users to conduct data-driven decisions that are best suited to their unique profile. In essence, the system allows users to make emotionless, accurate decisions. In June 2023,  Bybit partnered with the Dubai Multi Commodities Centre with the aim of becoming an Ecosystem Partner for the DMCC Crypto Centre.

Another goal of this partnership was to support the mass adoption of cryptocurrencies and Dubai and contribute to the expansion of the Web3 ecosystem in the emirate. To support the growth of the crypto community in the region, Bybit has signed a Memorandum of Understanding (MOU) with DMCC. .