• Bybit exchange has recorded impressive transaction volume on its USDC in the midst of a market slump.
• The crypto firm is looking to establish new headquarters in Dubai and become one of the top crypto exchanges in MENA region.
• The exchange has seen an increase in spot volume for USDC, thanks to its robust trading engine and liquidity.
Bybit Hits New Trading Milestone
Bybit exchange has recorded massive transaction volume on its USD Coin (USDC) amid the market rout, with the contribution of USDC to spot volume jumping from 8% to more than 40%. This remarkable achievement has solidified Bybit’s lead as one of the top crypto exchanges in the Middle East and North Africa (MENA) region, prompting it to set up new headquarters in Dubai.
Reliable Trading Engine & Robust Liquidity
The success of Bybit can be attributed to its reliable trading engine and robust liquidity that have helped it meet customers‘ obligations and requests. On its perpetual market, the daily trading volume for USDC/USDT pair hit $380 million with annualized funding rate reaching up to 740%. Additionally, Bybit’s transparent operations have also played an integral role in boosting users’ confidence in their offerings and the broader crypto ecosystem.
Diverse Offerings For All Categories Of Investors
The digital currency exchange was able to design a system that is usable and useful for trust traders, institutions, and all categories of investors alike. From launching a secure self-custodial wallet for Web3 applications access, to introducing a debit card which is set to go live anytime soon – Bybit focuses on providing maximal customer satisfaction by delivering what they need most.
When FTX Derivatives Exchange collapsed back in November 2020, many were ready to give up hope but exchanges like Bybit started publishing their Proof-of-Reserve (PoR). This move successfully restored faith into their offerings as well as into the cryptocurrency industry at large.
Focus On Customer Needs
At Bybit, customer needs are always put first when building products or launching services; this includes using feedback gathered from customers via surveys or direct conversations with them regarding what they want most out of their experience while using Bybit’s platform.