Summary
- Bybit said it has entered a strategic collaboration with Circle to increase USDC usability.
- Through this partnership, Bybit plans to expand the application of USDC to spot, derivatives, and payment functions and improve liquidity and on/off-ramp efficiency for fiat.
- Bybit said it will also participate in the Circle Arc beta program to advance technologies linked to USDC-based infrastructure.
Global virtual asset (cryptocurrency) exchange Bybit has entered a strategic cooperation with USDC issuer Circle to increase USDC usability across trading products and payment infrastructure.
On the 8th, according to crypto-focused media UBlockchain, Bybit plans to expand the application of USDC to spot, derivatives, and payment functions through this partnership and improve related liquidity and fiat on/off-ramp efficiency.
The two companies will also examine expanding cross-chain liquidity and the possibility of developing financial solutions for institutional investors.
According to the outlet, Bybit is also participating in the public beta of Circle's stablecoin infrastructure development program 'Circle Arc'. Bybit is expected to use this to advance technologies linked to USDC-based infrastructure.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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