By BUDDY JEWEL | JUNE 10, 2025
Cryptocurrency giant Bybit is making significant strides in enhancing accessibility and driving innovation. The platform today announced two major developments: a new fiat channel in Kazakhstan and an industry-first direct stablecoin service.
Bybit Kazakhstan has partnered with Bank CenterCredit to introduce a direct fiat deposit and withdrawal channel. Local users can now seamlessly move Kazakhstani Tenge (KZT) in and out of Bybit with zero fees, enhancing regional crypto infrastructure.
Bybit has upgraded its On-Chain Earn product, becoming the first exchange to offer direct and unrestricted minting and redemption of USDtb. This innovative stablecoin, developed by Ethena, is collateralized by yield-generating U.S. Treasury assets.
Users can now directly mint USDtb by depositing USDT, USDC, or USDe, and instantly redeem them back into these stablecoins. This eliminates previous restrictions, applications, or waiting periods, offering dynamic yields without staking or lock-ups.
"Stablecoin yield is entering a new era," states Emily Bao, Head of Spot at Bybit. "Bybit's integration of direct USDtb minting removes longstanding barriers and empowers users with the autonomy and liquidity they expect from the future of on-chain finance.”