Bybit expands spot USDC trading pairs as support for stablecoins increases

Crypto Derivatives Exchange Partners with Circle to Expand Suite of USDC Offerings; traders will also have access to automatic conversions between the stablecoin and the US dollar.

Crypto derivatives exchange Bybit has partnered with stablecoin issuer Circle Internet Financial to expand its suite of USD Coin (USDC)-denominated spot trading pairs — a move the company says will Increase individuals' and institutions' access to USDC-settled products.

Under the partnership agreement, Bybit will expand its USDC spot pairs to include several additional cryptocurrencies and make automatic conversions between the US dollar and USDC available, the company announced on Wednesday. Bybit said it intends to collaborate with Circle on other initiatives to drive stablecoin and crypto adoption.

Bybit currently supports about 35 USDC spot pairs, according to a Circle representative.

A major US investment bank watches the crypto derivatives market.

Goldman Sachs is reportedly trying to integrate some of its derivatives into @FTX_Official crypto derivatives offerings. https://t.co/c0467Knv9U

(Report via @_prashantjha)

Bybit began offering USDC options and perpetual contracts in April this year, giving traders more ways to protect themselves against spot market moves. At the time, Bybit CEO Ben Zhou told Cointelegraph that the options rollout was in response to growing user demand. On Wednesday, Zhou said the launch of USDC Options was a success...