CRYPTOCURRENCY UPDATES: BYBIT AND CIRCLE COLLABORATE TO INTRODUCE USDC. | VERY USEFUL 5 MIN:

BYBIT AND CIRCLE COLLABORATE TO INTRODUCE USDC
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BYBIT AND CIRCLE COLLABORATE TO INTRODUCE USDC SPOT PAIRS AND PROVIDE CLIENTS WITH INTEGRATIONS.

OVERVIEW OF BYBIT AND CIRCLE COLLABORATE TO INTRODUCE USDC:

BYBIT, THE THIRD-LARGEST CRYPTO DERIVATIVES EXCHANGE IN THE WORLD BY VOLUME, HAS TEAMED UP WITH CIRCLE INTERNET FINANCIAL, A LEADING PROVIDER OF GLOBAL DIGITAL FINANCIAL SERVICES AND THE CREATOR OF THE USD COIN (USDC) AND EURO COIN (EUROC), TO FURTHER ITS DEVELOPMENT AS A GATEWAY FOR INSTITUTIONAL AND RETAIL USDC-SETTLED PRODUCTS.

BYBIT AND CIRCLE COLLABORATE TO INTRODUCE USDC
BYBIT AND CIRCLE COLLABORATE TO INTRODUCE USDC.

IN ORDER TO FACILITATE USDC-SETTLED OPTIONS, BYBIT WANTS TO BECOME A ONE-STOP GATEWAY. WITH FEATURES LIKE PORTFOLIO MARGIN, WHICH REDUCES MARGIN REQUIREMENTS ON HEDGED POSITIONS, AND UNIFIED ACCOUNTS THAT ACCEPT BTC/ETH/USDT/USDC AS COLLATERAL, THE EXCHANGE’S MARKET-BEATING LIQUIDITY IS MATCHED. IN ACCORDANCE WITH THE AGREEMENT, BYBIT WILL MAKE CIRCLE’S SERVICES AVAILABLE TO ITS USERS, INCREASE THE NUMBER OF USDC SPOT PAIRS IT LISTS, AND PROMOTE INCREASED PUBLIC AWARENESS OF USDC AND RELATED GOODS.

BYBIT’S COLLABORATION WITH CIRCLE, A PIONEERING EXCHANGE FOR NEW DIGITAL ASSET CLASSES, AIMS TO INCREASE CRYPTOCURRENCY ADOPTION AND UTILITY. THE FIRST STABLECOIN-MARGINED OPTION CONTRACT WAS USDC OPTIONS, WHICH BYBIT RELEASED EARLIER THIS YEAR. THE EXCHANGE PROMISED TO SOON MAKE ETHER AND SOL OPTIONS AVAILABLE AS WELL.

BYBIT WILL USE THE KNOWLEDGE AND SKILLS GAINED FROM RUNNING THE WORLD’S TOP CRYPTOCURRENCY EXCHANGE TO CREATE AND MARKET PRODUCTS LIKE SPOT TRADING, PERPETUAL CONTRACTS, AND OPTIONS THAT WILL AID IN THE EXPANSION OF USDC AS PART OF ITS COMMITMENT. ADDITIONALLY, BYBIT WILL ALLOW INSTANT, AUTOMATIC CONVERSIONS BETWEEN USD AND USDC (OR OTHER STABLECOINS ISSUED BY CIRCLE).

AT THE PARTNERSHIP’S LAUNCH EVENT AT VICINITY LONDON, CO-FOUNDER AND CEO OF BYBIT BEN ZHOU SAID, “WE HAVE CONTINUED TO DEVELOP DESPITE THE DOWNTURN MARKET, AND WE HAVE DISCOVERED THAT USDC IS A PERFECT MATCH FOR OUR BUSINESS.”. “IT WAS TIME TO EXPAND OUR WORKING PARTNERSHIP WITH CIRCLE, WHICH HAS A REPUTATION FOR OPENNESS AND INTEGRITY IN THEIR SERVICES AND THE CREATION OF CUTTING-EDGE FINANCIAL TECHNOLOGY, AFTER THE SUCCESS OF OUR USDC OPTIONS. WE ANTICIPATE PROVIDING OUR RETAIL AND INSTITUTIONAL CLIENTS WITH MORE USDC SPOT PAIRS AND PRODUCTS IN THE FUTURE.”

JEREMY ALLAIRE, CO-FOUNDER AND CEO OF CIRCLE, STATED THAT BYBIT HAS “CONSTANTLY DELIGHTED USDC USERS WITH THE CONTINUED EXPANSION OF THEIR INNOVATIVE PRODUCT OFFERINGS” OVER THE PAST YEAR. “WE ARE DELIGHTED TO HAVE BYBIT ONBOARD AS A PARTNER IN OUR EFFORTS TO PROMOTE GREATER ACCESS AND ADOPTION FOR USDC,” THE STATEMENT CONTINUED.

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REGARDING CIRCLE:

USING THE POTENTIAL OF VIRTUAL CURRENCIES AND OPEN BLOCKCHAINS FOR PAYMENTS, COMMERCE, AND FINANCIAL APPLICATIONS GLOBALLY IS MADE POSSIBLE BY CIRCLE, A GLOBAL PROVIDER OF FINANCIAL TECHNOLOGY. THE CREATOR OF THE USD COIN (USDC) AND EURO COIN (EUROC), CIRCLE POWERS 24/7 INTERNET-NATIVE COMMERCE AND PAYMENTS. A NEW GENERATION OF FINANCIAL SERVICES AND COMMERCE APPLICATIONS IS CURRENTLY EMERGING THANKS TO CIRCLE’S TRANSACTIONAL SERVICES, BUSINESS ACCOUNTS, AND PLATFORM APIS. THESE APPLICATIONS HOLD THE POTENTIAL TO INCREASE GLOBAL ECONOMIC PROSPERITY FOR ALL THROUGH THE FRICTIONLESS EXCHANGE OF FINANCIAL VALUE. 

REGARDING BYBIT:

A PROFESSIONAL PLATFORM WHERE CRYPTOCURRENCY TRADERS CAN FIND AN INCREDIBLY QUICK MATCHING ENGINE, FIRST-RATE CUSTOMER SUPPORT, AND MULTILINGUAL COMMUNITY SUPPORT IS PROVIDED BY BYBIT, A CRYPTOCURRENCY EXCHANGE THAT WAS FOUNDED IN MARCH 2018. THE ASSOCIATION FOOTBALL (SOCCER) TEAMS BORUSSIA DORTMUND AND AVISPA FUKUOKA, AS WELL AS THE SPORTS TEAMS NAVI, ASTRALIS, ALLIANCE, VIRTUS.PRO, MADE IN BRAZIL (MIBR), AND ORACLE RED BULL RACING ESPORTS, ARE ALL PROUD PARTNERS OF BYBIT.

CONCLUSION ON BYBIT AND CIRCLE COLLABORATE TO INTRODUCE USDC:

TO CONCLUDE ON BYBIT AND CIRCLE COLLABORATE TO INTRODUCE USDC, IT IS A GOOD THAT BYBIT AND CIRCLE COLLABORATE TO INTRODUCE USDC. IT WILL INCREASE THE LIQUIDITY OF THE CRYPTO MARKET AND IT WILL PROVIDE MORE OPPORTUNITIES FOR INVESTORS TO TRADE ON A USD-BACKED STABLECOIN.

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CRYPTOCURRENCY UPDATES: BYBIT AND CIRCLE COLLABORATE TO INTRODUCE USDC. | VERY USEFUL 5 MIN:

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