Cryptocurrency exchange Bybit and the company Circle, which issues the stablecoin USDC, have announced a strategic partnership. Bybit will promote USDC among its users.
One of the largest cryptocurrency exchanges plans to increase the liquidity of USDC on the spot and derivatives markets, as well as deeper integrate these tokens into its ecosystem, including the Bybit Earn, Bybit Pay, and other products. Together with Circle, the exchange will conduct a series of campaigns and initiatives aimed at "increasing the efficiency of USDC usage in Bybit's products and services," according to a press release.
Bybit is the second-largest exchange by trading volume after Binance. Its volume over the last 24 hours exceeded $2.5 billion, according to CoinGecko. The platform is very popular among Russians, with Russian traffic accounting for 28% in October.
USDC has a market capitalization of $78 billion, making it the second-largest stablecoin by this metric after Tether's USDT, which has a market value of $185 billion. In terms of trading volume, these stable cryptocurrencies also occupy the top two positions, but with a large gap: over the last 24 hours, USDT trading accounted for $76 billion, while USDC accounted for $5 billion.
Bybit and Circle also plan deeper integration to "unlock new opportunities for cross-chain liquidity and institutional-grade financial solutions." Previously, Bybit was among the participants in the test network of Circle's Arc blockchain.
The companies' partnership will further extend to fiat money solutions, the statement said. This is expected to combine Circle's infrastructure and partner network with Bybit's global reach to simplify deposits and withdrawals in key markets.
In the press release, the exchange emphasized that the partnership with Circle reflects its focus on regulatory compliance. In 2025, Bybit obtained a Virtual Asset Service Provider license in the UAE and expanded its presence in EU countries, Turkey, and other jurisdictions.
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