Bybit Announces $300,000 USD Airdrop for New Stablecoin USD1 Launch on Trading Platform
In an exciting development for the DeFi ecosystem, Bybit, a leading cryptocurrency exchange, has listed USD1, a new stablecoin issued by BitGo. This listing marks a significant step for USD1 as it aims to break into the stablecoin market, following the success of Tether's USDT and Circle's USDC.
USD1 is a utility tokenized stablecoin designed to maintain a 1:1 peg with the U.S. dollar and is backed by short-term U.S. Treasuries. It is issued by BitGo, a firm renowned for its institutional-grade crypto custody services. The stablecoin undergoes regular independent third-party audits to verify its backing, ensuring transparency and security for users.
Deposits for USD1 opened on July 8, 2025, at 10:00 AM UTC, with withdrawals set to become available from July 10, 2025, at the same time. Deposits and withdrawals are supported via the ETH and BSC networks.
Bybit's listing of USD1 also means that the stablecoin is immediately compatible with Bybit's Spot Grid Bots, enabling automated trading strategies on launch day. This integration could potentially attract a wide range of traders to the stablecoin.
To celebrate the listing, Bybit is hosting two promotional events offering a combined prize pool of $300,000. Event 1 is for new users who complete identity verification and deposit or trade at least 100 USD1 or USDT. Rewards for this event include a share of 100,000 USD1. Event 2 is for active Spot traders who trade at least 500 USDT worth of USD1, with rewards of up to 700 USD1 per user.
The listing of USD1 potentially paves the way for further listings and DeFi integrations as World Liberty Financial, the company behind USD1, expands. Bybit's inclusion of USD1 is one of the first major steps in this direction, following the exchange's recent expansion to include tokenized stocks and DeFi-native assets.
USD1's utility extends beyond Bybit, as it is also integrated with Alchemy Pay, allowing users to purchase it using mainstream fiat methods. This integration expands the stablecoin's utility across 173 countries.
With its focus on transparency, regulatory compliance, and market presence, USD1 aims to position itself as a viable alternative to major stablecoins like USDT and USDC. By participating in promotional campaigns like the one on Bybit, USD1 seeks to capture user attention and liquidity, which can help it gain traction in the market.
The MNT/USD1 trading pair was launched on July 9, 2025, at 12:00 PM UTC, and USD1/USDT Spot trading has been live since the same day and time. As the stablecoin market continues to evolve, the listing of USD1 on Bybit is a significant move that could shape the future of this sector.
[1] World Liberty Financial. (2025). USD1 Stablecoin Launch. Retrieved from https://www.worldlibertyfinancial.com/usd1 [2] BitGo. (2025). USD1 Stablecoin. Retrieved from https://www.bitgo.com/usd1 [3] Bybit. (2025). USD1 Listing on Bybit. Retrieved from https://www.bybit.com/en-US/info/usd1-listing/ [4] Alchemy Pay. (2025). USD1 Integration. Retrieved from https://www.alchemypay.org/usd1 [5] Bybit. (2025). USD1 Promotional Events. Retrieved from https://www.bybit.com/en-US/info/usd1-airdrop/
- Bybit, a leading cryptocurrency exchange, has listed USD1, a stablecoin issued by BitGo, marking a step towards breaking into the stablecoin market.
- USD1 is a utility tokenized stablecoin designed to maintain a 1:1 peg with the U.S. dollar and is backed by short-term U.S. Treasuries.
- Deposits for USD1 opened on Bybit on July 8, 2025, at 10:00 AM UTC, with withdrawals set to become available from July 10, 2025, at the same time.
- Bybit's listing of USD1 means that the stablecoin is immediately compatible with Bybit's Spot Grid Bots, enabling automated trading strategies.
- To celebrate the listing, Bybit is hosting two promotional events offering a combined prize pool of $300,000, attracting a wide range of traders to the stablecoin.
- The listing of USD1 on Bybit potentially paves the way for further listings and DeFi integrations, positioning USD1 as a viable alternative to major stablecoins like USDT and USDC.
