Bybit Partners With Circle To Offer USDC Spot Pairs

The stablecoin USD Coin (USDC) issuer Circle has partnered with Bybit, a cryptocurrency derivatives exchange with headquarters in Singapore, to offer USDC spot pairs. By increasing its USDC spot pair listings, Bybit announced Thursday that it will make Circle’s services available to its users to expedite Bybit’s development “as a gateway for retail and institutional USDC-settled products.” 📣 We are proud to announce that we have partnered with @circlepay! 🔥 This allows #Bybit traders to leverage on the strength and stability of $USDC. 👉🏻 Read more here: https://t.co/0w9t451sa3 pic.twitter.com/FCZs5kq0rY — Bybit (@Bybit_Official) August 31, 2022 Bybit Launched USDC Options To further diversify the trading tools available to its consumers, the exchange launched USDC options early this year. In April of this year, Bybit started providing USDC options and perpetual contracts, giving traders more excellent choices for hedging against fluctuations in the spot market. As part of the collaboration, Bybit will create and market products like spot trading, perpetual contracts, and options that aid in expanding USDC. According to reports, Bybit attempted to slash up to 30% of its workforce in June to lower costs. The company was “exploring a means to remove overlapping functions and develop smaller but more agile teams to boost our efficiency,” a spokeswoman said. Circle’s USDC Second-Largest Stablecoin According to CoinMarketCap, Ci...