Exclusive: Circle Strikes USDC Revenue-Sharing Pact with ByBit—Crypto’s #2 Exchange

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2025-07-09 17:26:13

Circle Has USDC Revenue Sharing Deal With Second-Largest Crypto Exchange ByBit: Sources

Stablecoin giant Circle just cut a deal that'll make TradFi bankers blush. The USDC issuer is now splitting fees with ByBit—the second-largest crypto exchange by volume—in a move that cements stablecoins' dominance in trading pairs.

Behind the velvet ropes: While retail traders fight over memecoins, institutional players are quietly building the plumbing. This partnership gives Circle deeper liquidity moats while ByBit gets a sticky asset to keep users from fleeing to competitors.

The fine print nobody reads: Revenue-sharing deals like this used to be Wall Street's playground. Now they're crypto's open secret—complete with the same opacity about who really benefits. Just don't ask how much USDC's 'transparent reserves' are earning in this arrangement.

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