Bybit, the world's second-largest cryptocurrency exchange by trading volume, has announced a landmark partnership with Plasma, the next-generation Layer 1 blockchain designed for stablecoin payments. This collaboration marks a powerful step forward in Bybit's mission to make digital assets faster, cheaper, and more accessible for millions of users worldwide. As part of the partnership, Bybit will list Plasma (XPL) on Spot and enable USDT deposits and withdrawals via Plasma—delivering lightning-fast, zero-fee USDT transfers that redefine what's possible in everyday crypto payments. Bybit users can now move USDT seamlessly on a network purpose-built for scale, security, and global adoption.
This launch arrives at a pivotal moment for the industry. Stablecoin supply has surged to an unprecedented $283.2 billion, while monthly active senders have hit a record 25.2 million, according to industry data. At the same time, startups focused on stablecoin infrastructure have raised more than $620 million in 2025 alone, underscoring explosive momentum behind platforms like Plasma.
To celebrate the listing, Bybit is rolling out XPL Tokensplash, a community rewards campaign featuring a total prize pool of 9 million XPL. Beginning September 24, new users who complete deposits or trades can share from a 3 million XPL pool, with the first 10,000 participants each earning 300 XPL.
From Sept. 25, existing users can also join by trading at least 500 USDT worth of XPL on Spot to qualify for a share of a 6 million XPL pool, with rewards capped at 10,000 XPL per user.
Zero-Fee USDT Withdrawal Program: Effective Sept. 29, 2025, Bybit will cover all network and transaction fees for USDT transfers on Plasma, allowing users to withdraw funds without gas costs. A nominal base withdrawal fee (minimum 2 USDT) will remain in place. The program will run until the allocated prize pool is depleted.
Chain-Powered USDT Deposit Lucky Draw: Running from Sept. 29, 2025 to Oct. 13, 2025, users depositing USDT via Plasma can qualify for a share of $100,000 USDT in rewards. Lucky draw tickets will be awarded based on deposit activity, with new and existing users eligible under different criteria. Each ticket offers a chance to win prizes ranging from 0.5 USDT to 100 USDT, credited directly to winners' accounts. The campaign will be featured in Bybit's Rewards Hub, and users must claim the task in the Rewards Hub for their deposits to be counted.
Chain-Powered Staking – Up to 100% APR: From Sept. 29, 2025, to Oct. 29, 2025, Bybit users who achieve a net deposit of at least 100 USDT via Plasma will gain access to an exclusive staking pool. Reward tiers include: 100 percent APR for new users, 20 percent APR for all users, 25 percent APR with higher caps for VIP users.
*Subaccounts, institutional accounts, and users in restricted jurisdictions, including the European Economic Area, are not eligible. Full terms and conditions apply. Bybit reaffirmed that cryptocurrency trading carries significant risk and advised participants to exercise caution and seek independent financial advice where necessary.
This partnership positions Bybit and Plasma to lead in stablecoin innovation, offering users efficient, cost-free tools amid surging market adoption.
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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