Bybit Expands Beyond Tether for Stablecoin Activity with Circle Partnership
AI Summary1 min read
TL;DR
Bybit partners with Circle to boost USDC usage, expanding liquidity in spot and derivatives markets and integrating fiat tools. This move aims to enhance stablecoin options amid concerns over Circle's stock if USDC growth slows.
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CircleUSDCBybitstablecoincrypto exchange
Bybit, the second-largest crypto exchange, is partnering with Circle to expand USDC's role on its platform. Bybit will widen USDC liquidity in spot and derivatives markets and integrate Circle's fiat on- and off-ramp tools. This move comes as some analysts warn that Circle's stock could feel pressure if USDC's growth slows or its market share stalls. USDC has traded almost perfectly flat over the past 24 hours, holding its dollar peg on CoinGecko.
