Bybit Moves Options and Futures Contracts to Tether for Liquidity

Bybit is transitioning its options and futures contracts to Tether (USDT) starting February 26, ceasing the issuance of new USDC contracts. This move aims to enhance liquidity on the exchange.

Key points include:

Bybit's decision contrasts with the trend towards USDC in the crypto market.
USDT maintains the largest stablecoin supply at $145.2 billion, while USDC has a supply of $54.9 billion.
Bybit reported a daily trading volume of $22.2 billion, largely driven by active derivatives for Bitcoin and Ethereum.
The shift will impact SOLUSC and ETHUSDC futures, with contract expirations scheduled on different dates to maintain liquidity.

Bybit’s European Expansion Efforts

Bybit aims to strengthen its presence in Europe despite restrictions in several countries. Recent developments include:

The removal from the French AMF blacklist after over two years of regulatory engagement.
Plans to obtain a MiCA license, as confirmed by CEO Ben Zhou.

The evolving regulatory landscape may attract more investors during the upcoming bull run.