Bybit, the world’s second-largest crypto exchange by trading volume, has announced a wide-ranging strategic partnership with Circle, the issuer of the USDC stablecoin. This alliance is designed to integrate USDC across Bybit’s entire platform, from trading to everyday spending, marking a direct push to increase the stablecoin’s market share and use.
A Multi-Faceted Push for Integration
According to a December 8 press statement, the partnership has several immediate objectives. For one, Bybit will work to improve USDC liquidity across its spot and derivatives markets, aiming to create a more efficient trading environment.
The companies also plan joint campaigns to increase USDC use across Bybit’s products, with a significant focus on simplifying how users move between traditional money and crypto. By combining Circle’s payment networks with Bybit’s global presence, the partnership intends to offer better fiat currency deposit and withdrawal options in key regions.
Beyond trading, Bybit plans to embed USDC into its savings product, like Bybit Earn, as well as its cashback card and payment service.
“Bybit’s partnership with Circle represents a major milestone in our mission to offer a fully compliant, liquid, and user-friendly ecosystem,” said Bybit co-founder and CEO, Ben Zhou. “From trading to payments to savings, we are integrating USDC to power the next phase of our platform’s growth and stability.”
It follows the exchange’s recent regulatory progress, including securing a full Virtual Asset Platform Operator License from the UAE’s Securities and Commodities Authority.
The firm has also been expanding its regulated operations in Europe and Turkey, signaling its ambition to serve both retail and institutions under clearer rulesets. The same point was highlighted by its B2B head, Yoyee Wang, in a November interview where she stressed the company’s “proactive approach to compliance and governance” as critical to institutional trust, especially after the cautious period that followed major failures such as FTX and Celsius.
Stablecoin Rivalry Heats Up Amid Market Growth
The collaboration has also come during a period of expansion for the stablecoin sector. Their total market value has increased to over $308 billion, according to data from DefiLlama. While Tether’s USDT remains the dominant player with a 60% share and a $185 billion market capitalization, USDC has been gaining ground. In the last month, its market cap grew by over 3%, to just shy of $78 billion.
This partnership is a clear attempt to further close that gap by making USDC the default stablecoin on a major exchange ecosystem. Furthermore, Bybit is participating in the testnet for Circle’s new blockchain, Arc, which launched in October 2025 and is built specifically for stablecoin-focused finance, indicating a longer-term technological alignment between the two companies.
The strategy echoes previous efforts by the crypto exchange to broaden access, including an initiative launched earlier in the year allowing crypto purchases with credit cards in over 25 local currencies.