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

Huagui Group: A Global Player Across Two RMB100-Billion Aquatic Markets, as Honghu Lotus Root Ranks No. 1 in Antioxidant Content

HONGHU, CHINA – Media OutReach Newswire – 25 September 2026 – Honghu lotus root ranks first in antioxidant content among major lotus-root-producing regions, according to industrial report by China...

GrabSteel Enters into Committed Equity Facility of up to US$100 Million with White Lion Capital

Johor steel distributor, built to US$28 million without outside equity, arranges its first committed source of outside capital, available following a U.S. listing, to develop Matcon, a construction...

Angel Health Wan Chai Clinic Commences Operations, Providing General Practice, Health Check and Vaccination Services

HONG KONG SAR – Media OutReach Newswire – 25 September 2026 – Angel Health has commenced operations at the Wan Chai clinic, marking a further expansion of the medical service network...

Correcting and Replacing: Global Schools Group Marks 25th Anniversary with S$100,000 Multi-Organisation Community Support

The Group outlined ambitious global expansion with 20 new campuses by 2030 and next-generation student initiativesSINGAPORE – Media OutReach Newswire – 25 September 2026 – Global Schools Group (GS...

From Holiday Getaways to Meaningful Journeys: How Le Méridien Phuket Mai Khao Beach Resort Is Reshaping the Festive Season

PHUKET, THAILAND – Media OutReach Newswire – 25 September 2026 – As travellers increasingly seek meaningful ways to celebrate the festive season, Le Méridien Phuket Mai Khao Beach Resort is unvei...

MIHAS Reaffirms Malaysia’s Pivotal Role in the Growing Global Halal Economy

Flagship Halal Showcase Connects Exporters Across 58 Countries, Unifying Global Sourcing, Sector MoUs, and Industry Knowledge HubsKUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 25 September 20...

Amari Koh Samui and OZO Chaweng Samui invite active travellers to fill their trip with more of the experiences they love

BANGKOK, THAILAND – Media OutReach Newswire – 25 September 2026 – A race or sporting event may be the reason to pack a bag and set off, but the enjoyment of a trip need not end at the finish line...

Green SM Begins Pilot Operations In The Netherlands, Further Expanding Its Presence In Europe

AMSTERDAM, NETHERLANDS – Media OutReach Newswire – 26 September 2026 – On September 25, Green SM held a technical opening event in the Netherlands, marking the beginning of its high-quality pure-...

MIHAS Awards 2026 Celebrates Excellence and Sets New Benchmark for Innovation, Sustainability and Digitalisation Across the Global Halal Ecosystem

KUALA LUMPUR, MALAYSIA – Media OutReach Newswire – 26 September 2026 - The MIHAS Awards 2026, one of the key highlights of the Malaysia International Halal Showcase (MIHAS) 2026, concluded today a...

QUORRA X5 Makes Its Global Debut at REHACARE International 2026 in Germany

DÜSSELDORF, GERMANY – Media OutReach Newswire – 26 September 2026 – QUORRA X5, a micro-mobility robot, has made its global debut at REHACARE International 2026 – International Trade Fair for Rehab...

Customer Service Is Becoming Part of the Small Business Sales and Marketing Engine

For Customer Service Week, 5-9 October, Thryv is urging small businesses to look beyond generating  enquiries and examine what happens after a custome...

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...