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Bybit announced that BYUSDT can now be used as margin collateral on its TradFi platform, allowing users to earn up to 20x bonus APR through trading activity.
Bybit has announced that its stablecoin BYUSDT can now be used as margin collateral on the platform's TradFi trading service. According to the post, users may also earn up to 20 times bonus annual percentage rate (APR) through TradFi trading activity when using BYUSDT as collateral.
No additional details on eligibility, calculation of bonus APR, or specific terms were provided in the announcement.
Bybit is a cryptocurrency exchange focused on derivatives trading, offering a proprietary platform that integrates with TradingView for market analysis and trade execution. The broker supports leveraged trading up to 100x, provides copy trading features for both spot and derivatives markets, and offers 24/7 customer support as well as instant deposits and withdrawals. For more details, you can read the broker profile on Traders Union.
For more context on Bybit's recent activities, you can read our coverage of the broker's announcement to list the GROVE token from Grove Finance on its Spot trading platform in this earlier news about Bybit.