Bybit and Circle announced a partnership to expand access and usage of USDC globally, focusing on more trading pairs and products on the Bybit platform.
The partnership aims to strengthen USDC’s role as a global settlement asset, potentially affecting market liquidity on Bybit.
Bybit and Circle have announced a partnership to enhance global access to USDC. This move aims to provide more USDC pairs, products, and on/off-ramps on Bybit.
The partnership involves Bybit crypto exchange and Circle Internet Financial, LLC, issuer of USDC. Key figures include Jeremy Allaire, CEO of Circle, and Ben Zhou, CEO of Bybit.
USDC Adoption on Bybit: Market Liquidity Insight
The partnership could enhance USDC adoption on Bybit, potentially increasing market liquidity. Bybit plans to expand USDC usage, including more spot trading pairs.
Potential outcomes include increased market liquidity and broader trading capabilities for USDC. This aligns with historical trends where similar partnerships boost trading volume and liquidity.
Circle’s Exchange Partnerships: A Blueprint for Success
Similar past events include Circle’s partnerships with other exchanges to expand USDC usage. These collaborations traditionally aim to deepen USDC liquidity.
Experts suggest that the Bybit-Circle plan could mirror prior successes, bolstering USDC’s role in global trading. These collaborations help enhance liquidity and trading volumes.
Ben Zhou, Co-founder & CEO of Bybit, stated, “We are excited to partner with Circle to expand the USDC ecosystem on Bybit, enabling our global users to access more USDC trading pairs and products.” Source: Bybit Official Announcement
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