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

Nearly Half of Tracked Google Queries Now Show AI Overviews, KL SEO Expert Warns

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 18 September 2026 – As tools like Google AI Overviews, ChatGPT, and Gemini increasingly influence how consumers search for products and services...

Connecting Global Resources, Empowering Industry Growth

MetroTrans 2026: Join Us to Unlock New Growth OpportunitiesGUANGZHOU, CHINA– Media OutReach Newswire – 18 September 2026 – The 2026 China International Metro Transit Exhibition (MetroTrans 2026) w...

Finding a Second Home: Indian Student Aashni Rungta Pursues Business Excellence at CUHK

HONG KONG SAR – Media OutReach Newswire – 18 September 2026 – Hong Kong's standing as a global financial centre is turning the city into a magnet for internationally minded business students...

De Beers Group and Chow Tai Fook Jointly Launch Desert Rose Collection at JGW

HONG KONG SAR – Media OutReach Newswire – 18 September 2026 – De Beers Group presents the Desert Rose collection in partnership with Chow Tai Fook—the strategic partner of its Desert diamonds camp...

Flexible Workspace Leader Industrious to Open New Flagship at 1 Elizabeth Street, Its Most Premium Sydney Workspace

SYDNEY, AUSTRALIA – Media OutReach Newswire – 18 September 2026 – Industrious, the global flexible workplace company, will open its new Australian flagship at 1 Elizabeth Street in Sydney on 1 O...

Pinglu Canal, project of century, completed and opened to navigation

NANNING, CHINA – Media OutReach Newswire – 18 September 2026 – On September 16, the navigation launch ceremony for the Pinglu Canal was held in Qinzhou, Guangxi. At 10:25 a.m...

ICONSIAM Invites Global Travelers to Discover Why Bangkok Remains One of Asia’s Most Revisited Destinations This Golden Week

Best Things to Do in Bangkok This Golden Week: Discover Authentic Thai Cuisine, Luxury Shopping, Cultural Experiences and Iconic Chao Phraya River Attractions at ICONSIAMBANGKOK, THAILAND – Media ...

From "Good Houses" to "Good Living": Beijing Building Industrialization Group Presents a New Vision for Residential Life at CIFTIS

BEIJING, CHINA – Media OutReach Newswire – 18 September 2026 – The 2026 China International Fair for Trade in Services (CIFTIS) opened at Shougang Park in Beijing on September 9. The exhibition ar...

World Cities Turn to AI: Vinhomes Green Paradise – Can Gio Builds the Answer with WCCD Interim Custom ISO 37122 Smart City Certification

CAN GIO, VIETNAM – Media OutReach Newswire – 18 September 2026 – Vinhomes, Vietnam's leading developer of large-scale integrated urban complexes, has reached an important milestone: its Vinhomes G...

AI-enabled Economic and Trade Cooperation Tightening the Ties of Trade and Investment CooperationThe 23rd China-ASEAN Business and Investment Summit Held Successfully

NANNING, CHINA – Media OutReach Newswire – 18 September 2026 – The 23rd China-ASEAN Business and Investment Summit (CABIS) was held in Nanning City, Guangxi, China from September 17 to 19, 2026, s...

Gift Cards as the gateway to agentic payments

Prepaid and stored value gives consumers the trust and control to try AI shopping agents By Blackhawk Network VP Head of ANZ Kieran Nolan For deca...

Why Data Accumulation Without Governance Undermines Sustainability Goals

In July 2026, Group 2 entities, the second cohort of Australian businesses, began their first reporting period under the mandatory climate disclosur...

Permanent $20,000 Instant Asset Write-Off Gives Small Businesses Greater Planning Certainty

The Federal Government’s decision to permanently legislate the $20,000 instant asset write-off will give eligible small businesses greater certainty...

Selling a Small Business in Australia: Understanding the Capital Gains Tax Concessions

For many Australian business owners, selling a business represents the reward for years—sometimes decades—of hard work. Unlike employees who may bu...

Australian businesses lean into global strategic partnerships (GCCs) for next wave of outsourcing

The Australian corporate landscape is undergoing a fundamental transformation in how it sources talent and innovation. While businesses have traditi...

The New Pressure Gap Crushing Small Businesses

Starting any business and making it prosper is a major undertaking. Part of the challenge is managing the uncertainty, but the financial pressures o...