#Vienna #Austria #USDC #Stablecoins #BybitEU

Bybit EU Expands Access to USDC and EURC

Bybit EU, the European arm of the crypto service provider Bybit, has recently launched new campaigns focused on expanding access to stablecoins, particularly USDC and EURC. This initiative is aligned with the European regulatory framework and aims to promote responsible use of digital assets across the continent.

Regulatory Framework and New Initiatives

Located in Vienna, Bybit EU is an authorized crypto-asset service provider under the MiCAR regulation. The company is enhancing its platform by incorporating stablecoins issued by regulated entities such as Circle. This move is designed to encourage a more structured interaction with digital assets, encouraging users to utilize stablecoins in various financial contexts.

The first phase of the initiative kicked off on February 2. It focuses on 'Stablecoin Earn' products, which are intended to foster financial literacy and long-term saving habits. Bybit is promoting these savings programs instead of encouraging short-term speculation, urging users to design their financial goals responsibly. The offerings include attractive interest rates, such as a 20% annual return on a 10-day fixed deposit for USDC.

Product Offerings

The launch includes a variety of fixed-term savings products:

• - 10-day fixed deposit with a 20% annual yield for new users
• - A general 10-day fixed deposit at 14%
• - A 30-day fixed deposit at 16%
• - A EURC–USDC Cross-Yield product at 15% for 30 days

These products provide clarity and predictability, aiding users in forming savings strategies instead of chasing fleeting market trends.

Promoting User Responsibility

Mazurka Zeng, Co-CEO of Bybit EU, emphasizes that the introduction of USDC and EURC facilitates greater access to regulated stablecoins while promoting thoughtful engagement with digital assets. Through the Earn products, Bybit aims to nurture financial literacy and long-term participation within a regulated European environment.

Simultaneously, Bybit EU has launched a commercial competition named 'Consistency Counts,' with a prize pool of 110,000 USDC, encouraging users to focus on consistency and discipline in their trading practices. With ongoing product integrations, including new features for the Bybit card, users will find even more effective ways to employ USDC and EURC throughout the platform.

Understanding USDC and EURC

USDC and EURC are two major fully-collateralized stablecoins, designed to operate seamlessly on the internet and harness blockchain networks for real-time, low-cost transactions. They adhere to the European Union regulatory framework for crypto-asset markets (MiCA), ensuring they meet industry standards for safety and efficiency.

The expansion of USDC and EURC on Bybit EU's platform marks a crucial development in making regulated stablecoins more accessible across Europe. This supports a broad array of trading, saving, and payment options, continuously fostering a responsible engagement with digital assets. Bybit EU pledges to remain committed to enhancing the stablecoin ecosystem through ongoing campaigns and initiatives aimed at promoting responsible engagement and long-term strategies for users.