Bybit Launches USD1 Stablecoin with $300K Incentive Program

Introduction of USD1 Stablecoin on Bybit

Bybit has officially introduced USD1, a new stablecoin fully backed by the U.S. dollar, on its Spot trading platform. This launch is accompanied by two significant promotional campaigns offering a total of $300,000 in USD1 rewards to users. The initiative highlights the increasing competition among stablecoins as exchanges strive to attract users through incentives and enhanced transparency.

Promotional Campaigns to Encourage User Engagement

To celebrate the debut of USD1, Bybit has rolled out two promotional events aimed at boosting user participation:

• Event 1: A total of 150,000 USD1 is allocated for new users who complete identity verification and either deposit or trade a minimum of 100 USD1/USDT.
• Event 2: Another 150,000 USD1 is available for active Spot traders who engage in at least 500 USDT worth of USD1 trading, with individual rewards reaching up to 700 USD1.

These campaigns will run until July 23, 2025, with the goal of enhancing liquidity and onboarding new users while positioning USD1 as a credible alternative to existing stablecoins.

Compliance and Transparency in USD1’s Structure

USD1 distinguishes itself in the market by emphasizing compliance and transparency. Issued by BitGo, a firm renowned for its institutional-grade crypto custody solutions, USD1 is backed by cash deposits and short-term U.S. Treasuries, ensuring a 1:1 value with the U.S. dollar.

Key Features of USD1

• Full Dollar Backing: Reserves are maintained in a transparent manner.
• Regular Audits: Independent third-party audits are conducted to verify the backing.
• Redemption Rights: Eligible users have rights similar to those offered by USDC.
• Multi-Chain Availability: Users can deposit and withdraw USD1 on both Ethereum (ERC-20) and Binance Smart Chain (BSC).

Additionally, USD1 is designed to support WLFI’s upcoming DeFi protocol, integrating it as a utility token within decentralized finance ecosystems.

Bybit’s Strategic Move into the Stablecoin Market

Bybit’s decision to list USD1 as its first quote currency signals its ambition to penetrate the stablecoin market, traditionally dominated by Tether’s USDT and Circle’s USDC. While USDT remains the leader by market capitalization, newer entrants like USD1 are gaining traction due to their commitment to transparency and real-world asset backing, which are increasingly important to users and institutions.

Bybit is actively pursuing compliance, education, and diversification across its platform. The launch of USD1 is a strategic step in this direction, complementing the recent introduction of tokenized stocks and DeFi-native assets. The stablecoin is designed to be easily accessible, featuring integration with Spot Grid Bots for automated trading and fiat onboarding options like One-Click Buy.

Timeline and Trading Details for USD1

Here’s a brief overview of the USD1 listing timeline:

• Deposits Open: July 8, 2025, at 10:00 AM UTC
• Spot Trading Begins: July 9, 2025, at 10:00 AM UTC for USD1/USDT
• MNT/USD1 Trading Launch: July 9, 2025, at 12:00 PM UTC
• Withdrawals Available: July 10, 2025, at 10:00 AM UTC

Deposits and withdrawals will be facilitated through both ETH and BSC networks. Notably, USD1 is compatible with Bybit’s Spot Grid Bots, allowing for automated trading strategies right from launch.

Funding Options for USD1 Trading

Users can fund their USD1 trading through several methods:

1. Purchase USDT via fiat or peer-to-peer transactions.
2. Deposit USDT directly into their Bybit wallet.
3. Trade USDT for USD1 using the available trading pairs.

Terms and Conditions for Promotional Events

Bybit has established specific eligibility criteria for participants in the promotional events:

• Only users who register will qualify for rewards.
• Event 1 requires new users to verify their identity and make a minimum deposit or trade of 100 USD1 or USDT.
• Event 2 mandates a total Spot trading volume of 500 USDT in USD1 during the promotional period.
• Subaccounts are excluded from Event 1 but may participate in Event 2 (excluding API trades).
• Rewards will be credited to user wallets within seven days after the conclusion of the events.
• Institutional accounts and market makers are not eligible for participation.
• Users from restricted regions, including the European Economic Area (EEA), cannot take part.

Bybit reserves the right to disqualify any user suspected of manipulation or fraudulent activity.

Conclusion

With the introduction of USD1, Bybit positions itself at the forefront of the stablecoin market, offering a product backed by short-term U.S. Treasuries and regulated redemption features. This launch not only enhances Bybit’s offerings but also sets the stage for further listings and DeFi integrations as WLFI continues to grow.

Disclaimer: This article is provided for informational purposes only and does not constitute financial advice. Readers are encouraged to conduct their own research before making any investment decisions.