Circle partners with Bybit in push to drive USDC adoption outside Coinbase ecosystem

Circle, the issuer of the USDC stablecoin, has partnered with the cryptocurrency exchange Bybit to significantly increase USDC's presence and adoption outside of the Coinbase ecosystem, where Circle has historically been heavily reliant. The partnership involves Bybit boosting USDC liquidity in spot and derivatives markets, expanding its use in savings, payments, and card rewards, and integrating Circle’s fiat on- and off-ramp infrastructure for faster transactions. This move is part of Circle's broader strategy to compete with Tether (USDT), which currently has a much larger circulation, by securing global partners like Bybit and following a similar partnership with Binance last year. Bybit views the collaboration as a way to enhance its credibility by aligning with what it calls the "world’s largest regulated stablecoin."

(Source：The Block)