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Bybit, the world's second-largest cryptocurrency exchange by trading volume, has entered a strategic partnership with an affiliate of Circle Internet Group, Inc. ('Circle') (NYSE:CRCL), a global financial technology firm and the issuer of USDC through its regulated entities. The agreement is intended to expand USDC access across Bybit's global ecosystem, strengthen liquidity of the stablecoin, and support Bybit's positioning as a regulatory-compliant platform focused on transparency and trust.
Under the partnership, Bybit will increase USDC liquidity across its spot and derivatives markets to create a more efficient trading environment for both retail and institutional users. The two companies also plan a series of campaigns and initiatives aimed at broadening the use of USDC across Bybit's products and services.
The collaboration extends to fiat on- and off-ramp solutions, combining Circle's infrastructure and partner network with Bybit's international user base to streamline deposits and withdrawals in key markets. Bybit users are expected to benefit from greater speed, transparency and efficiency when converting between local currencies and digital assets.
Bybit plans to deepen USDC integration across its wider ecosystem, including Bybit Earn for savings products, Bybit Card for cashback rewards, and Bybit Pay for everyday transactions. The firm is positioning the expanded stablecoin use as part of its broader emphasis on compliance and what it terms responsible innovation.
Bybit has also joined the public testnet of Circle's Arc network, a new layer-1 blockchain designed for stablecoin-native finance. Arc's public testnet launched in October 2025 with participation from firms across the financial and economic system, alongside infrastructure providers and global market participants.
Regulatory Compliance As A Cornerstone Of Innovation
Regulation continues to feature prominently in Bybit's expansion strategy. The exchange recently secured a full Virtual Asset Platform Operator License from the UAE's Securities and Commodities Authority (SCA), which it has described as a key step in its Middle East growth and as making it the first global exchange to secure this level of regulatory approval in the region.
Bybit has also broadened its regulatory footprint across the European Economic Area (EEA), Turkey and other jurisdictions, reflecting a push to align with global regulatory standards and connect traditional finance with the digital asset economy.
USDC, issued by Circle's regulated entities, is described as a digital asset fully backed by highly liquid cash and cash-equivalent assets, and redeemable 1:1 with the U.S. dollar. Reserve assets are held with financial institutions, while monthly attestation by independent third parties is intended to provide additional transparency.
"Bybit's partnership with Circle represents a major milestone in our mission to offer a fully compliant, liquid, and user-friendly ecosystem. From trading to payments to savings, we are integrating USDC to power the next phase of our platform's growth and stability."
– Ben Zhou, Co-founder and CEO of Bybit
– Ben Zhou, Co-founder and CEO of Bybit
"At Circle, we are powering the future of internet activity with enterprise-grade infrastructure and stablecoins built for scale. Together, Circle and Bybit are making it easier for retail and institutional users to access and use USDC with the confidence, transparency, and speed they expect."
– Jeremy Allaire, Chairman, Co-founder and CEO of Circle
– Jeremy Allaire, Chairman, Co-founder and CEO of Circle
Looking ahead, Bybit and Circle say they are exploring deeper integrations aimed at unlocking new opportunities for cross-chain liquidity and institutional-grade financial solutions.
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