Bybit and Circle Forge Strategic Partnership to Advance Global USDC Adoption

Rhea-AI Summary

Bybit and an affiliate of Circle (NYSE:CRCL) announced a strategic partnership on Dec 8, 2025 to expand access and liquidity for USDC across Bybit's global ecosystem. The collaboration targets enhanced USDC liquidity in spot and derivatives markets, fiat on-/off-ramps, and broader integration across Bybit products including Earn, Card, and Pay.

The companies said they will run joint campaigns to increase USDC utility and that Bybit participated in the public testnet of Circle's Arc layer-1 blockchain (launched Oct 2025). Bybit also secured a full Virtual Asset Platform Operator License from the UAE SCA and expanded regulatory oversight across the EEA, Turkey, and other jurisdictions.

Positive

• Bybit secured a full Virtual Asset Platform Operator License from the UAE SCA
• Partnership to expand USDC liquidity across spot and derivatives markets
• Planned USDC integration into Bybit Earn, Bybit Card, and Bybit Pay
• Bybit joined Circle's Arc public testnet (Arc launched Oct 2025)

Negative

• None.

Key Figures

USDC redemption rate 1:1 with U.S. dollar USDC described as redeemable at par for USD

Market Reality Check

$85.62 Last Close

Volume Volume 10,380,641 vs 20-day average 20,606,148 (about 0.5x), suggesting muted pre-news activity. low

Technical Price 85.62 trades below 200-day MA of 90.5 and at the 52-week low vs high 298.99.

Peers on Argus

Peers show mixed moves: LPLA +1.36%, TW +0.41%, HLI +0.36%, while FUTU -1.46% and NMR -0.38%, indicating stock-specific rather than sector-wide dynamics for CRCL.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 18	Conference participation	Neutral	+0.0%	CEO fireside chat at Citi’s 14th Annual FinTech Conference.
Nov 12	Earnings results	Positive	-12.2%	Strong Q3 2025 revenue, income, and USDC circulation growth.
Oct 28	Brand partnership	Positive	-3.2%	Wyclef Jean named Global Culture Advisor to spotlight stablecoin use.
Oct 15	Earnings date notice	Neutral	-4.5%	Announcement of Q3 2025 results release and investor call timing.
Sep 17	Crypto partnership	Positive	-2.8%	Strategic partnership with Kraken to enhance USDC and EURC utility.

Pattern Detected

Recent history shows several positive or growth-focused announcements followed by negative 24h moves, suggesting a pattern of selling into good news.

Recent Company History

Over the past months, Circle has highlighted growth and ecosystem expansion, including Q3 2025 results with strong USDC-driven revenue and income growth on Nov 12, 2025, and multiple crypto partnerships and cultural initiatives to broaden stablecoin adoption. Events such as the Arc public testnet launch, Kraken collaboration, and a culture-focused partnership with Wyclef Jean all aimed to extend USDC’s reach. Despite this, several of these seemingly positive milestones saw negative next-day price reactions, a backdrop for interpreting today’s Bybit partnership.

Market Pulse Summary

This announcement highlights Circle’s continued push to expand USDC adoption via a strategic partnership with Bybit, covering trading liquidity, fiat on- and off-ramps, and integration into payments and savings products. It complements earlier collaborations with financial infrastructure providers and prior launches like the Arc public testnet. Investors may track how such integrations translate into USDC circulation, transaction volumes, and adherence to regulatory frameworks as key metrics for assessing long-term impact.

Key Terms

stablecoin financial

"strengthen liquidity of the world's largest regulated stablecoin"

A stablecoin is a type of digital currency designed to keep its value steady, often by being backed by traditional assets like money or commodities. For investors, stablecoins offer a reliable way to move money quickly across digital platforms without the value fluctuations common with other cryptocurrencies, making them useful for saving, trading, or transferring funds with less risk of sudden losses.

fiat on- and off-ramp financial

"extend to fiat on- and off-ramp solutions, combining Circle's infrastructure"

A fiat on- and off-ramp is the service or process that lets people convert government-issued money (like dollars or euros) into digital assets and back again. Think of it as the entrance and exit ramps between a regular road and a digital highway: its speed, cost, rules and availability determine how easily investors can get into or out of crypto or token positions, affecting liquidity, trading costs and the practical value of those assets.

layer-1 blockchain technical

"Arc network, a new layer-1 blockchain purpose-built for stablecoin-native finance"

A layer-1 blockchain is the base network that records and finalizes transactions and enforces rules for a digital ledger, acting like the operating system or road network for all activity built on top of it. It matters to investors because its speed, security, transaction costs and ability to host applications directly affect user adoption and the value of tokens or services that rely on that network; stronger, more scalable base layers tend to attract more activity and investment.

AI-generated analysis. Not financial advice.

DUBAI, UAE, Dec. 8, 2025 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, today announced a strategic partnership with an affiliate of Circle Internet Group, Inc. ('Circle') (NYSE:CRCL), a global financial technology firm and the issuer of USDC through its regulated entities. The partnership aims to expand USDC access across Bybit's global ecosystem, strengthen liquidity of the world's largest regulated stablecoin^[1], and reinforce Bybit's position as a regulatory-compliant platform committed to transparency and trust.

As part of this partnership, Bybit will enhance USDC liquidity across spot and derivatives markets, enabling a more efficient trading environment for retail and institutional users. The two companies will also roll out a series of campaigns and initiatives to increase the utility of USDC across Bybit's products and services.

The partnership will further extend to fiat on- and off-ramp solutions, combining Circle's infrastructure and networks of partners with Bybit's global reach to simplify deposits and withdrawals across key markets. Bybit users will then benefit from greater speed, transparency, and efficiency when converting between local currencies and digital assets.

Bybit also plans to expand USDC integration across its ecosystem, including Bybit Earn for savings, Bybit Card for cashback rewards, and Bybit Pay for everyday transactions — while reinforcing its commitment to compliance and responsible innovation.

In addition, Bybit was among the first wave of more than one hundred companies to join the public testnet of Circle's Arc network, a new layer-1 blockchain purpose-built for stablecoin-native finance. Arc's public testnet launched in October 2025, with broad-based engagement and collaboration from across the financial and economic system, deep infrastructure support, and global participation.

Regulatory Compliance as a Cornerstone of Innovation

Bybit recently secured a full Virtual Asset Platform Operator License from the UAE's Securities and Commodities Authority (SCA), marking a major milestone in its expansion in the Middle East and positioning it as the first global exchange to secure this level of regulatory approval in the region.

In addition, Bybit has expanded its regulatory oversight across the European Economic Area (EEA), Turkey, and other jurisdictions around the world. These developments demonstrate Bybit's long-term commitment to aligning with global regulatory standards and bridging traditional finance with the digital asset economy.

USDC is a digital asset fully backed by highly liquid cash and cash-equivalent assets, and is redeemable 1:1 with the U.S. dollar. The reserve assets are held with trusted financial institutions, and monthly attestation by independent third parties provide a high degree of transparency.

Ben Zhou, Co-founder and CEO of Bybit, said: "Bybit's partnership with Circle represents a major milestone in our mission to offer a fully compliant, liquid, and user-friendly ecosystem. From trading to payments to savings, we are integrating USDC to power the next phase of our platform's growth and stability."

Jeremy Allaire, Chairman, Co-founder and CEO of Circle, added: "At Circle, we are powering the future of internet activity with enterprise-grade infrastructure and stablecoins built for scale. Together, Circle and Bybit are making it easier for retail and institutional users to access and use USDC with the confidence, transparency, and speed they expect."

Looking ahead, Bybit and Circle continue to explore deeper integrations to unlock new opportunities for cross-chain liquidity and institutional-grade financial solutions.

[1] USDC is an internet-native, fully-reserved, regulated digital dollar that leverages blockchain networks to enable businesses, developers, and individuals to conduct near-real-time, low-cost global transactions. It is a leading, fully-reserved global stablecoin issued through Circle's regulated affiliates. To learn more about using or accessing USDC, visit USDC.com. To learn more about Circle's regulatory authorizations, visit Circle's Licenses page.

 

#Bybit / #CryptoArk

About Bybit

Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit's Communities and Social Media

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SOURCE Bybit

FAQ

What did Bybit and Circle (CRCL) announce on Dec 8, 2025?

They announced a strategic partnership to expand USDC access, liquidity, fiat on/off-ramps, and product integrations across Bybit's global ecosystem.

How will the Bybit–Circle partnership affect USDC liquidity on Bybit?

The partnership aims to enhance USDC liquidity across spot and derivatives markets to enable more efficient trading for retail and institutional users.

Will Bybit support USDC for payments and savings after the partnership?

Yes; Bybit plans to expand USDC integration into Bybit Earn, Bybit Card, and Bybit Pay for savings, cashback, and everyday transactions.

Does this announcement include regulatory developments for Bybit?

Yes; Bybit secured a full Virtual Asset Platform Operator License from the UAE SCA and expanded oversight across the EEA, Turkey, and other jurisdictions.

What is Circle's Arc and what is Bybit's involvement?

Arc is a layer-1 blockchain built for stablecoin-native finance; Bybit was among the first companies to join Arc's public testnet, which launched in Oct 2025.

How will fiat on- and off-ramps change for Bybit users under the partnership?

The partnership combines Circle infrastructure with Bybit's global reach to simplify deposits and withdrawals, aiming for greater speed, transparency, and efficiency when converting local currencies and digital assets.