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Bybit Launches BYUSDT to Tokenize Staked USDT for Margin Trading
Yahoo Finance· 2025-12-12 17:51
Core Insights - Bybit has launched BYUSDT, a proprietary token that allows users to tokenize their USDT Flexible Easy Earn balances for margin trading while still earning daily yield [1][2] Group 1: Product Features - BYUSDT enables Bybit VIP account holders to tokenize their staked USDT for 1:1 margin trading, allowing seamless swaps between BYUSDT and USDT Flexible Easy Earn accounts without fees [2] - The token accrues rewards hourly with daily payouts, enhancing the user experience [2] - Bybit's offering is unique in the centralized exchange space, as it integrates directly with the platform's staking rewards program [3] Group 2: Competitive Landscape - While similar products exist, such as those from Derebit and Kraken, Bybit's approach combines margin trading with a comprehensive rewards platform, unlike Kraken which limits margin trading to specific rewards [4][5] - Bybit's capital efficiency allows users to earn yields on staked USDT while maintaining liquidity for trading, addressing a common dilemma faced by traders [5] Group 3: Strategic Partnerships - Bybit is focusing on the stablecoin market, particularly through its partnership with Circle to enhance USDC liquidity across various markets and services [6][7] - The partnership aims to improve fiat-to-crypto on/off-ramps and expand USDC integration within Bybit's ecosystem, including services like Bybit Card and Bybit Earn [7]
X @Bybit
Bybit· 2025-12-12 15:00
Product Update - Introduces $BYUSDT, allowing 1:1 swap from USDT in Flexible Easy Earn [1] - Enables users to instantly convert USDT Flexible Easy Earn to $BYUSDT for trading [1] - Allows users to free up funds for trading while maintaining daily yield [1] Benefit - Provides VIP Exclusive access to the $BYUSDT swap feature [1]