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

iCOMPASS Launches Evidence-Backed AML/KYC for Law Firms

New ULTRA KYC™ capability helps law firms move beyond document collection to evidence-linked customer due diligenceSINGAPORE - Media OutReach Newswire - 9 September 2026 - Amid continued scrutiny ...

Thailand’s SUBCON Expo Hits $705 Million in Parts Trade as Global Manufacturers Seek New Suppliers

BANGKOK, THAILAND - Media OutReach Newswire - 19 May 2026 - SUBCON Thailand — ASEAN's largest industrial sourcing expo — closed its 20th edition with an estimated USD 705.5 million in parts trade ...

Shama Steps Into Style: ONYX Hospitality Group and Greyhound Original Unveil New Uniform Collection

BANGKOK, THAILAND – Media OutReach Newswire – 9 September 2026 – ONYX Hospitality Group has teamed up with one of Thailand's most influential fashion names, Greyhound Original, to create a new uni...

InterContinental Penang Resort to open this December, marking the brand’s first resort in Malaysia

For today’s luxury traveller, a new coastal retreat where culture, cuisine and discovery unfold at the edge of the Andaman SeaPENANG, MALAYSIA – Media OutReach Newswire – 9 September 2026 – Inter...

ZTE Global Summit & User Congress 2026 Opens in Kuala Lumpur, Advancing from Connectivity to Digital Value Creation

The 15th ZTE Global Summit & User Congress officially opened in Kuala Lumpur, Malaysia, co-located for the first timewith the GSMA M360 ASEAN Ministerial leaders from Malaysia...

Shenzhen-Hong Kong-Guangzhou Innovation Cluster in China maintains global lead

HONG KONG SAR - Media OutReach Newswire - 9 September 2026 - The World Intellectual Property Organization (WIPO) released its Global Innovation Index (GII) 2026 on September 8, revealing that the ...

Maidesite Wins 2026 Hiiibrand Merit Award, Expanding Smart Ergonomic Standing Desk Portfolio Across Europe

MUNICH, GERMANY – Media OutReach Newswire – 9 September 2026 – Smart workspace brand Maidesite has officially been awarded a Merit Award at the 2026 Hiiibrand International Brand & Communicati...

East West Barbershop: Bringing Vietnamese Barbering to Europe Through Skill and Identity.

HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 9 September 2026 – In 2024, East West Barbershop (Dong Tay Barbershop) opened its first branch in Hungary, marking a milestone in its journey ...

Democracy News Alliance: For the sake of democracy, Europe must get its governance act together, urges new report

LOS ANGELES, US – Newsaktuell – 9 September 2026 – Although Europe's place among the world's democracies remains at the top of the heap, the latest research from governance experts warns that the c...

Bain Capital and Omnam Group announce the sale of the Lake Como Edition Hotel to Sansiri Capital

The transaction follows the landmark property’s March 2026 debut and marks the completion of the joint venture transformation of the Lake Como site into a five-star EDITION hotelBANGKOK, THAILAND –...

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...