Azbit

The project was founded in 2018 and is registered in the Republic of Seychelles (company Azbit Global Ltd, registration number 203186, registered office at House of Francis, Ile Du Port, Mahe). Previously, corporate presence was also maintained through Azbit Ltd in St. Vincent and the Grenadines. The public trading launch took place on December 28, 2019, following an ICO that concluded in the summer of 2019. In January 2020, a UI/UX redesign and the launch of "Azbit 2.0" were announced. In 2022, the matching engine was upgraded (claimed to be up to 50 times faster than the previous version), and the native token AZ was migrated from the Ethereum network (ERC-20) to the Avalanche C-Chain with the introduction of a deflationary mechanism (1% fee on transfers: 0.5% burned, 0.5% distributed to holders off-exchange). Key milestones include the launch of the futures API (April 2024), integration of crypto card services and mobile top-ups, and an update to the Android application (April 2026). As of Aug 3, 2026 , the exchange has a trust rating of 6 (rank 80 ). Regulation and Licenses Azbit does not hold licenses from major global regulators: it lacks MSB registration in the US, a BitLicense from New York State, registration with the UK FCA, a MAS license from Singapore, as well as licenses under the European Union's MiCA framework. Early in its operations, during the ICO stage, intentions were mentioned to obtain a European payment license and MiFID II investment firm status, but these plans were not realized. The exchange remains an offshore regulated platform in the Seychelles. The KYC/AML policy is structured by levels: Level 1 - email confirmation with limited trading; Level 2 - upload of ID and selfie (required for IEO and higher withdrawal limits); Level 3 - address verification. The exchange reserves the right to freeze accounts in case of suspicious transactions. Restricted jurisdictions include the US, Canada, North Korea, Iran, Syria, Sudan, and Crimea. A Law Enforcement Request System (lers.azbit.com) is operational for processing law enforcement inquiries. No significant public regulatory penalties or lawsuits against the exchange have been recorded. Products and Fees The main product is the spot market, launched on December 28, 2019. The interface offers Limit and Market orders, TradingView charts, an order book, and trade history. In April 2024, futures (perpetual contracts) on cryptocurrencies and forex were announced; the public Futures REST API includes endpoints for accounts, orders with TP/SL fields, leverage, and funding rate metadata. The Earn section (staking, flexible savings) is available on the website and via API. IEO/Launchpad is an active module; rounds have been conducted, for example, the BJF Token in August 2025. A "listing in one day" option is claimed through the "List your asset" form. Crypto cards (Visa/Mastercard) and mobile top-ups in 150+ countries are under development (April 2024); the API contains Pay‑ Gate and "Ding" endpoints for payouts. An Android application is supported (Azbit Software Ltd, updated April 11, 2026) with spot, futures, staking, and multiple payment methods. The exchange's native token is AZ (initial supply 138,888,888,888 AZ). Utilities include fee discounts for holders/payers in AZ, participation in Launchpad, and a historical "bonus" program for holders. The token was migrated to the Avalanche C-Chain in May 2022 with an automatic burn and redistribution mechanism. Daily buybacks with bimonthly burns have been in place since 2021; by January 2024, a significant portion of the supply had been destroyed, with a target supply of 138,888,888 AZ (0.1% of the initial). Exchange API: REST (data.azbit.com, api2.azbit.com) and WebSocket, with HMAC‑SHA256 authorization. Fees: maker 0% , taker 0% ; discounts apply for AZ holders and possible zero-fee campaigns. Volumes and Liquidity The exchange occupies a niche in trading micro- and small-cap assets; the majority of volume comes from the spot market. The derivatives segment is in the development stage. The institutional market share is insignificant, with no specialized solutions for institutional clients (OTC, prime brokerage). Trust rating - 6 (rank 80 ). Planned metrics: 24-hour spot volume, derivatives volume, open interest - are not disclosed in public sources at the time of writing. Security and Incidents The cold storage architecture, use of MPC/multisig, and the size of the insurance fund are not publicly disclosed. The exchange does not publish Proof-of-Reserves based on a Merkle tree and has not engaged an independent auditor for this purpose. No confirmed hacks or exploits resulting in user fund losses have been recorded in its history. Multiple notifications of scheduled maintenance lasting several hours, during which some services were unavailable, have been noted in the Telegram channel. There have been instances of temporary suspension of deposits/withdrawals for certain tokens (e.g., SHISHA) due to non-functioning smart contracts. No freezes on withdrawals due to banking issues or depositor panic have been reported. The exchange's reserves in dollar terms are not disclosed. Related Individuals Sergei Ermolitski (co-founder and CEO). Earned a Master's degree in Human Resource Management from the Belarusian State Technological University (2001-2006). Prior to Azbit, from 2009 to 2019, he served as VP of Marketing at FXCASH OÜ. In 2019, he replaced Max Zmitrovich as CEO and focused on product development, marketing, and operations. He is the only publicly named founder according to Tracxn. Max Zmitrovich - held a leadership position until 2019, after which he left the exchange. His subsequent activities are not publicized. Roger Ver - was listed as an advisor to the project during the ICO stage (2019), which contributed to initial interest from the Bitcoin Cash community. No confirmed investments or current role exist. Legal entities: Azbit Global Ltd (Seychelles), AZ Strategic Ltd, AZ Markets Ltd. The holding structure and external investment attraction are not documented. Potential The derivatives segment is actively being developed - a public Futures API and plans to launch a futures front-end are in place. The introduction of crypto cards (withdrawals to Visa/Mastercard) and global mobile top-ups could expand the retail user base. The updated Android application and support for staking (including campaigns for specific assets) enhance user retention. The team maintains a focus on fast listings and IEOs, attracting small-cap projects seeking initial liquidity. Risks [Identified by Finkonkurs AI analytics system] The lack of licenses in key jurisdictions (US, EU, UK, Singapore) limits market access and may lead to enforcement actions by local regulators. There is no public, audited Proof-of-Reserves - the risk of insolvency and withdrawal restrictions remains. High concentration on micro-caps and an aggressive listing policy create a risk of abrupt delistings with short notice. The absence of an insurance fund and undisclosed asset storage architecture increase vulnerability to potential cyberattacks. Competitive pressure from major centralized and decentralized exchanges offering comparable services with better liquidity may limit growth. Technical downtimes recorded on Telegram indicate incomplete infrastructure stability.