Circle, the issuer behind the U.S. dollar–pegged stablecoin USDC, has deepened its relationship with cryptocurrency exchange Bybit through a new strategic partnership aimed at widening the token’s global reach and improving liquidity across trading and payment channels.
The agreement, announced Monday, involves Circle and a related affiliate working closely with Bybit to boost the availability and functionality of USDC throughout the exchange’s ecosystem.
The move comes at a time when USDC is experiencing one of its strongest growth periods to date, with its market capitalization nearing the $80 billion milestone.
Expanding USDC Integration Across Bybit’s Platform
Bybit said the partnership will strengthen its existing USDC infrastructure, which already spans spot trading, perpetual futures, savings products, institutional settlement services, and fiat payment tools. According to a spokesperson, the exchange plans to further embed the stablecoin across derivatives markets, payments, and conversion pathways while maintaining compliance with global regulatory standards.
“We’re working with Circle to enhance liquidity, streamline on- and off-ramps, and broaden cross-chain support,” the spokesperson said. “This is especially important in regions like the European Economic Area, where Circle operates under clear regulatory guidelines through MiCA.”
The exchange emphasized that USDC has become a core component of its operations, powering fast settlement, improved transparency, and increasingly diverse use cases for retail and institutional users alike.
USDC’s Rapid Market Growth
The collaboration caps a year of significant momentum for USDC. Since the beginning of 2025, the stablecoin’s market capitalization has jumped 77%, rising from roughly $44 billion to $78 billion, according to CoinGecko data.
The surge follows a series of high-profile partnerships Circle has developed with major traditional finance institutions, including Deutsche Börse and Mastercard, as stablecoins gain traction as settlement and payment tools.
While USDC remains the second-largest stablecoin in the sector, its pace of growth this year has outstripped that of market leader Tether (USDT), which expanded 36% over the same period.
A Push for Transparency and Regulatory Alignment
Bybit noted that its collaboration with Circle does not mark a shift toward exclusivity, but rather reflects a broader push to align its services with transparent and compliant stablecoin issuers as regulatory expectations tighten globally.
“We continue to support multiple stablecoins,” the spokesperson added. “Our focus is on giving users choice while ensuring that the assets they rely on are backed by clear disclosures, high-quality reserves, and robust oversight.”
