Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced a landmark partnership with Plasma, a next-generation Layer 1 blockchain designed specifically for stablecoin payments. This collaboration aims to make digital assets faster, cheaper, and more accessible for millions of users worldwide.
Through this partnership, Bybit will list Plasma (XPL) on its Spot platform and enable USDT deposits and withdrawals via Plasma, offering lightning-fast, zero-fee USDT transfers. Users can now move USDT seamlessly on a network built for scale, security, and global adoption, redefining what’s possible in everyday crypto payments.
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The launch comes at a pivotal time for the stablecoin market, which has reached a record $283.2 billion in supply, with 25.2 million monthly active senders. In 2025 alone, stablecoin infrastructure startups have raised over $620 million, reflecting the sector’s explosive growth and momentum.
To celebrate the listing, Bybit is rolling out XPL Tokensplash, a community rewards program with a total prize pool of 9 million XPL. New users can share a 3 million XPL pool by completing deposits or trades starting September 24, while existing users can participate from September 25 by trading at least 500 USDT worth of XPL to access a 6 million XPL pool.
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Additionally, Bybit will implement a zero-fee USDT withdrawal program via Plasma starting September 29, 2025, covering all network and transaction fees, with a minimal base withdrawal fee of 2 USDT. A Chain-Powered USDT Deposit Lucky Draw will also run from September 29 to October 13, 2025, offering users a chance to win a share of $100,000 USDT in rewards based on their deposit activity.
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Bybit will also launch an exclusive staking program from September 29 to October 29, 2025, providing up to 100% APR for new users and tiered rewards for all participants. This partnership underscores Bybit’s commitment to innovation in crypto payments, empowering users with faster transactions, zero-fee transfers, and lucrative staking opportunities.