Bybit Stock Surges as USDtb Stablecoin Listing Boosts Trading Opportunities

Bybit, a leading cryptocurrency trading platform, has announced the addition of USDtb, a blockchain-based stablecoin, to its offerings. This move positions Bybit as the first exchange to list USDtb, providing users with a new option for secure savings and dynamic trading opportunities. The Head of Earn & Wealth Management at Bybit, Jerry Li, expressed pride in being the first to introduce this innovative asset, highlighting Bybit's commitment to a seamless user experience.

USDtb, created and managed by Ethena Labs, stands out among stablecoins by combining the liquidity of stablecoins with the security and transparency of institutional-grade U.S. Treasury assets. The stablecoin is primarily backed by BlackRock’s USD Institutional Digital Liquidity Fund Token (BUIDL), which holds 100% of its assets in cash, U.S. Treasury Bills, and other short-term U.S. government obligations. This backing makes USDtb an attractive option for investors seeking stability and yield in the digital asset ecosystem.

The launch of USDtb on Bybit is part of the exchange's broader commitment to providing robust infrastructure and driving on-chain innovation. Bybit users will have access to a unique combination of stability, flexibility, and instant liquidity. The listing of USDtb on Bybit's spot trading is scheduled for March 4, 2025, with withdrawal options commencing on March 5, 2025, at 8 AM UTC.

In addition to the listing, Bybit is offering a 5% Annual Percentage Rate (APR) on USDtb holdings for new and existing eligible users, with no lock-up requirements. The airdrop will occur after the first snapshot on March 6, 2025. Eligible Bybit users can join an exclusive event to enjoy the limited-time 5% APR on USDtb holdings, starting at a minimum of 0.00005 USDtb. Holders will continue to enjoy 95% of the yield on Treasury Bills after the first month.

Jerry Li further commented on the USDtb listing, stating that Bybit is pioneering a new frontier for stablecoins by bridging traditional finance and digital assets with unprecedented transparency and institutional-grade security. This development underscores Bybit's role as a leader in the cryptocurrency industry, continuously innovating to meet the evolving needs of its users.