Bybit, the third largest crypto derivatives exchange in the world by volume, has partnered with Circle Internet Financial, a global digital financial technology firm and the issuer of USD Coin (USDC) and Euro Coin (EUROC) to help accelerate the growth of Bybit as a gateway for retail and institutional USDC-settled products.
Bybit aims to become a one-stop gateway for USDC-settled options. The Exchange’s market-beating liquidity is matched with features such as portfolio margin, which lowers margin requirements on hedged positions, and unified accounts that accept BTC/ETH/USDT/USDC as collateral. Under the agreement, Bybit will offer Circle’s services to their users, expand their USDC spot pair listings, and support further awareness for USDC and related products.
As a leading exchange for emerging digital asset classes, Bybit’s partnership with Circle is aimed at promoting greater crypto adoption and utility. Earlier this year, Bybit introduced USDC options — the first stablecoin-margined option contract in the market — with the exchange pledging to make Ether and SOL options available soon.
As part of its commitment, Bybit will leverage its experience and expertise in the operation of its leading crypto exchange to develop and promote products that support the growth of USDC, such as spot trading, perpetual contracts, and options. Bybit will also enable instant, auto-conversions between USD and USDC (or other Circle-issued stablecoins).
