Bybit has formally launched USD1, a brand new stablecoin issued by BitGo, on its Spot buying and selling platform. The stablecoin is backed by the US greenback and is now accessible for buying and selling with the pairs USD1/USDT and MNT/USD1. To rejoice the launch, Bybit has launched two promotional occasions with a mixed prize pool of 300,000 USD1. The primary occasion provides 150,000 USD1 to new customers who full identification verification and deposit or commerce at the very least 100 USD1/USDT. The second occasion offers 150,000 USD1 to energetic Spot merchants who commerce at the very least 500 USDT price of USD1, with rewards of as much as 700 USD1 per consumer. These campaigns purpose to drive liquidity and onboarding whereas establishing USD1 as a reputable stablecoin different on main buying and selling platforms.
USD1 is designed to rival present stablecoins like USDT and USDC by providing full greenback backing held in clear reserves, unbiased third-party audits, redemption rights for eligible customers, and multi-chain availability on Ethereum (ERC-20) and Binance Sensible Chain (BSC). The stablecoin additionally helps WLFI’s pending DeFi protocol, embedding it as a utility tokenized stablecoin inside DeFi ecosystems. Bybit’s integration of USD1 aligns with its technique of selling compliance, training, and diversification throughout its platform. The change has lately listed tokenized shares and DeFi-native property, and the brand new stablecoin is made simply accessible with Spot Grid Bot integration for USD1 buying and selling and fiat onboarding strategies resembling One-Click on Purchase.
Bybit has outlined strict participation phrases for each promotional occasions, together with identification verification necessities, minimal deposit/commerce volumes, and restrictions on subaccounts and institutional accounts. Customers from restricted areas, together with the European Financial Space (EEA), should not eligible to take part. Bybit maintains the appropriate to disqualify any consumer suspected of manipulation, wash buying and selling, or fraudulent exercise. The campaigns run till July 23, 2025, and rewards shall be distributed to the suitable consumer pockets inside 7 days after the occasion ends. With this itemizing, Bybit turns into one of many first main platforms to combine USD1, doubtlessly paving the best way for additional listings and DeFi integrations as WLFI expands.
