Singapore-headquartered crypto derivatives exchange Bybit is partnering with Circle, the issuer of stablecoin USD Coin (USDC), to offer USDC spot pairs.

See related article: Bybit to cut up to 30% of its workforce

Fast facts

  • Bybit said on Thursday it will offer Circle’s services to its users by expanding its USDC spot pair listings to accelerate Bybit’s growth “as a gateway for retail and institutional USDC-settled products.”
  • The exchange introduced USDC options earlier this year to add further diversification to its users’ trading arsenal.
  • As part of the partnership, Bybit will develop and promote products that support the growth of USDC, such as spot trading, perpetual contracts and options.
  • In June, Bybit was reportedly seeking to cut up to 30% of its staff to reduce costs, and its spokesperson told Forkast at the time that it was “exploring a way to remove overlapping functions and build smaller but more agile teams to improve our efficiency.”

See related article: Circle freezes smart contract addresses linked to blacklisted Tornado Cash