Circle, the issuer of USDC ($1.00) stablecoin has signed a strategic partnership with a renowned cryptocurrency exchange, Bybit. The issuer announced the collaboration through an official statement on Monday. 

The firm, in its announcement, said the initiative will focus on enhancing global adoption of the USDC stablecoin. As indicated, the two partners will concentrate on expanding the usability and liquidity of USDC. 

More so, in addition to the provision of liquidity, the synergy will focus on strengthening fiat on-ramps and off-ramps. Circle emphasized that the partners as part of its goal will work on expanding cross-chain support for the token to boost its global relevance. 

Meanwhile, the strategic partnership is all targeted at enhancing access to USDC across Bybit’s global ecosystem. With the collaboration, USDC is set for improved integration across spot, derivatives, and payment channels on Bybit. 

The issuer emphasized that the stablecoin will operate within Bybit’s transparent and compliant framework. However, Bybit is optimistic that the collaboration with Circle will further reinforce its position as a regulatory-compliant cryptocurrency trading platform that is committed to transparency and trust. 

Side note

It is worth mentioning that the partnership emerged in a period when USDC was enjoying significant market attention. Lately, the stablecoin has been gaining more market share which has propelled its capitalization to about $80 billion according to Coinmarketcap.

Since the beginning of 2025, USDC has almost doubled its market cap soaring from $44 billion to $78 billion. Market data indicated that USDC is currently gaining ground against USDT ($0.99), the largest stablecoin by trading volume. 

Tether’s USDT, within that period also recorded noticeable inflow to its market cap which has increased by 36%, moving from $137 billion to $186 billion. While USDT has maintained a strong dominance over the stablecoin market, the increasing investors’ attention on the market sector could trigger a new order. 

Since the start of the year, new stablecoins like USD1, RLUSD ($1.00), USDe, and PYSUD have debuted, attracting significant investment. Meanwhile, the reason behind the sudden interest in stablecoins isn’t far-reaching as the Donald Trump administration’s pro-crypto approach has increased investors’ confidence. 

Under the administration, crypto regulation has gained more clarity, most especially with the introduction of the GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act). The regulation operates as the primary regulatory standard for stablecoin operations in the US.

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