Business Daily Media

The Times

.

Bybit Reports Surge in Trading Volume Amidst USDC Volatility

  • Bybit's spot market volume for USDC grows by 1,437%
  • Bybit becomes No.2 crypto exchange in MENA

DUBAI, UNITED ARAB EMIRATES - Media OutReach - 17 March 2023 - Bybit reports a surge in volume for USDC pairs as the world's third most visited crypto exchange ramps up efforts to meet market demands. Relying on trusted platforms to navigate the recent crypto and banking volatility, customers are turning to Bybit for its rock-solid security and market depth.

Bybit's spot market volume for USDC grew 1,437%, with USDC contribution to the total spot trading volume rising from 8% to 40%. Bybit's perpetual market saw the daily trading volume of the USDC/USDT pair exceeding $380 million, and the annualized funding rate reaching as high as 740%.

Bybit's success is a testament to its rapidly expanding user base, and the trust traders, institutions, and investors put in the platform. Bybit's battle-tested trading engine, proof of reserves, and sound risk management have seen the crypto exchange grow its market share throughout 2022 despite challenges — a trend that continues in 2023.

To optimize the trading experience and flexibility in portfolio management, Bybit is now offering zero fees on its options contracts and zero fees on all USDC Spot pairs and major stablecoin pairs such as USDC/USDT, BUSD/USDT, DAI/USDT, and WBTC/BTC.

While long-term issues affect the legacy financial system, the crypto exchange has been offering new alternatives from the world of Web3 including Bybit Wallet, which allows users to access decentralized finance apps while keeping their funds safe in custody. The newly launched Bybit Card, a debit card powered by the Mastercard network, allows users to off-ramp crypto into fiat to easily make purchases or take out cash from ATMs. The digital card is already available with preorders for the physical card commencing March 17.

Bybit has also announced the plan for a new headquarters in Dubai in spring 2023. With more than 400 crypto and blockchain businesses operating in the Middle East's burgeoning digital assets hub, Bybit has taken the No.2 spot among exchanges in the region. In just under a year, Bybit has generated $33.5b in trading volume across the Middle East and North Africa and is on track to double that figure in 2023.

"One thing we do well at Bybit is to Listen, Care and Improve. It is our job to be there for our customers when they need us the most. And we are able to support the surge in volumes in volatile markets because of years of building on platform integrity, fund safety, security, product integrations and risk management. We are determined to empower our customers with next-level products such as AI trading bots, easy fiat conversions, and proof of reserves," said Ben Zhou, co-founder and CEO of Bybit. "Bybit is the choice of reliability and transparency in times of high volatility, and these are qualities that will steer Bybit towards its goal of becoming the go-to 'Crypto Ark' for investors worldwide," he said.

Hashtag: #Bybit #TheCryptoArk

The issuer is solely responsible for the content of this announcement.

About Bybit

Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One's reigning Constructors' and Drivers' champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports, and association football (soccer) team Borussia Dortmund.

For more information please visit:

For updates, please follow:










News from Asia

KAST chooses Elliptic digital asset decisioning for global AML and sanctions compliance

SINGAPORE - Media OutReach Newswire - 10 June 2026 - Elliptic, the global leader in digital asset decisioning, has equipped KAST, the global financial platform built on stablecoin rails , with the...

Suanova, a Subsidiary of Yeebo, Signs Comprehensive Strategic Cooperation Agreement with InfiX.ai

Advancing Deployment of Training and Inference Integrated AI Platforms in Healthcare Applications, Powered by Domestic High-Density Computing InfrastructureHONG KONG SAR - Media OutReach Newswire ...

Dance Without Borders: BYU Ballroom Dance Gives Historic Performances in India

NEW DELHI / BENGALURU, INDIA - Media OutReach Newswire - 10 June 2026 - The BYU Ballroom Dance Company lit up stages in India for the first time, enchanting over 1,000 audience members with show-s...

VinFast launches early booking program for battery-swapping e-motorcycles in the Philippines, accelerating its expansion across Southeast Asia

MANILA, PHILIPPINES - Media OutReach Newswire - 10 June 2026 - VinFast has officially launched the Early Booking Program for three (3) e-motorcycle models in the Philippines, including the VinFa...

Red Bull Malaysia Announces Red Bull Next Generation To Discover And Support The Next Generation Of Athletes

Red Bull Malaysia announces Red Bull Next Generation, a new athlete development platform focused on emerging talent across Southeast Asia Applications open for Malaysian athletes ...

HEIDELBERG forges ahead with transformation – foundations laid for medium-term growth

Dual-use technology approach on target – establishing new areas of business based on core expertise boosts strategic diversification Strong partnerships – new Memorandum of Unders...

YesAsia Holdings Advances Dual-Engine Strategy with First YesStyle Concept Store in the US

HONG KONG SAR - Media OutReach Newswire - 10 June 2026 - YesStyle, the global online beauty retailer under YesAsia Holdings Limited ("YesAsia Holdings", together with its subsidiaries, the "Grou...

Tenchijin to Showcase "KnoWaterleak" and Speak as a Panelist at SIWW2026 Water Expo

16-18 June 2026, at Sands Expo & Convention Centre, Marina Bay Sands, SingaporeTOKYO, JAPAN - Media OutReach Newswire - 10 June 2026 - Tenchijin Inc., a space-tech innovator transforming susta...

OOm Institute Calls for AI Fluency to Close Human Critical Thinking Gap

SINGAPORE - Media OutReach Newswire - 10 June 2026 - OOm Institute, a Singapore-based AI and digital skills training provider, is calling for greater AI fluency as businesses adopt Generative AI a...

Korean Liquor (K-SUUL), Raises Its First Flag for Globalization on Asia’s Largest Stage

“K-SUUL Pavilion” to Open for the First Time at the HKCEC on May 26-28 HONG KONG SAR - Media OutReach Newswire - 10 June 2026 - The National Tax Service of Korea (Commissioner: Lim Kwang-hyun), fo...

Click Frenzy returns with a free EOFY sale event for retailers this month

New owners Gabby and Hezi Leibovich bring back Australia’s leading ecommerce sales event with Australia Post as Major Sponsor   Click Frenzy is ...

The 95 Per Cent Failure Rate Is Not An AI Problem

Most Australian SMEs I speak with are already having a go at AI. Some are running formal pilots, others have a team member quietly experimenting o...

New AR tech helping to solve field service skills crisis

AI-enabled augmented reality (AR) smart glasses are emerging as a new practical solution to fill a shortage of field service technicians maintaini...

For Midsize Companies, Global Payroll Systems Matter More to Business-Security Than You Think

When a midsize company expands across borders, its payroll operation becomes exponentially more complex. These organisations typically face a new ...

GEO and the AI search shift reshaping Australian and New Zealand business visibility

For years, one of the biggest digital marketing questions for businesses was ‘how do we get onto page one of Google?’ That question still matters, ...

Why self-service is reshaping fleet management for modern businesses

Fleet management today is constrained by fragmented systems and heavy administrative demands. A lot of the work still relies on booking vehicles and...