Circle, the publicly listed issuer of one of the world’s largest US dollar stablecoins, has forged a strategic partnership with cryptocurrency exchange Bybit.
The collaboration, announced jointly on Monday, involves Bybit working with a Circle affiliate to enhance the liquidity and usability of the USDC stablecoin.
“The partnership aims to broaden USDC access across Bybit’s global ecosystem, strengthen the liquidity of the world’s largest regulated stablecoin, and reinforce Bybit’s position as a regulatory-compliant platform committed to transparency and trust,” the companies said.
The move comes as USDC gains momentum, with its market capitalization approaching a historic $80 billion.
Bybit to expand USDC across spot, derivatives, and payments
“Partnering with Circle enables us to deepen USDC integration across spot trading, derivatives, and payment channels within a transparent and compliant framework,” a Bybit spokesperson told Cointelegraph.
The exchange is collaborating closely with Circle to enhance liquidity provisioning, improve fiat on- and off-ramps, and expand cross-chain support, the spokesperson added.
“This collaboration is just the beginning — especially in the EEA region, where Circle has a strong regulatory presence under MiCA. We see meaningful opportunities to expand USDC’s utility and deliver even more reliable settlement options for global users.”
A Bybit spokesperson said the exchange began integrating USDC several years ago, initially through spot and perpetual trading pairs, before expanding to savings products, institutional settlement, conversion tools, and fiat payment channels.
“USDC is now embedded across our ecosystem, and this new strategic partnership further strengthens the infrastructure with improved liquidity, faster settlement, and broader use cases,” the spokesperson added.
USDC market cap nears $80 billion
The Bybit–Circle partnership comes after a year of strong growth for USDC, which has nearly doubled its market capitalization since the start of 2025.
According to CoinGecko, USDC’s market cap has risen 77% this year, from around $44 billion on Jan. 1 to $78 billion as of Sunday.
This growth coincides with Circle’s expanding push into traditional finance, including partnerships with Deutsche Börse, payment giant Mastercard, and other major players.
By comparison, Tether, the world’s largest stablecoin by market capitalization, has grown roughly 36% since the start of the year, rising from $137 billion to $186 billion.
“Bybit supports multiple stablecoins and is committed to providing users with choice. Our partnership with Circle is not exclusive,” a Bybit spokesperson said. “It underscores our focus on transparency and regulatory clarity as the crypto industry continues to mature.”
