Exclusive: Circle Strikes USDC Revenue-Sharing Pact with ByBit – Crypto’s #2 Exchange Just Got Cozier with Stablecoins

Stablecoin giant Circle just cut a deal that'll make TradFi bankers clutch their pearls. The USD Coin issuer is now revenue-sharing with ByBit – the second-largest crypto exchange by volume – in a move that tightens stablecoins' grip on trading liquidity.

Why it matters: When exchanges and stablecoin issuers get into bed together, the sheets are always woven with yield. This partnership effectively turns USDC into ByBit's house stablecoin – with all the volume perks that entails.

The cynical take: Another day, another crypto 'partnership' that's really just a fee-sharing arrangement dressed up as innovation. At least this one involves actual revenue rather than vaporware promises.

Bottom line: Circle keeps expanding USDC's moat while exchanges scramble for stablecoin liquidity. The real winner? The algo traders who'll arb the hell out of this new liquidity pool.