Bybit users can now trade 78 global stocks directly with USDT as part of its Gold & FX expansion

Source Cryptopolitan

Bybit has launched direct trading of top global stocks with USDT as part of its Gold & FX (MT5) expansion. The new feature covers 78 key stocks from the technology, automotive, energy, and e-commerce industries. 

Bybit said, “Users can now tap into traditional markets like stocks, gold, oil, indices, and forex, without fiat onboarding or leaving the crypto ecosystem.”

The crypto exchange added that the launch allows it to “unify crypto, stocks, and traditional assets under one roof” and enables “seamless trading” across asset classes from a single account.

Major stocks include Apple ($AAPL), Tesla ($TSLA), Meta ($META), Nvidia ($NVDA), Amazon ($AMZN), and Microsoft.

Bybit users will be discounted

Stock trading on Bybit will be facilitated through Contracts for Difference (CFDs) instead of Spot trading or the purchase of physical shares. This will allow users to gain exposure to price movements without owning the underlying asset.

A fee of 0.04 USDT per share applies. It has a minimum charge of 5 USDT per order. From June 2 to June 15, all Bybit users will get a 50% discount on fees for trading stocks through Gold & Forex.

Investors still remember the massive crypto heist worth around $1.5 billion that happened in February.  CEO Ben Zhou said at the time that the crypto was stolen from a so-called “cold wallet,” or a digital wallet for ether tokens that are typically stored offline and said to be more secure. 

Bybit is also experiencing some challenges in China. The Bybit team said that it heard from users that they could not take money from the Bybit platform because of a problem with KYC verification when using an Apple ID.

Bybit has more than 70 million users in 160 countries and regions. The exchange, which lets you buy and sell coins like Bitcoin and Ether, recently said that its 24-hour trading volume hit $40.11 billion.

The Stablecoin market reaches a new high

With $150 billion in circulation, Tether now has 61% of the stablecoin market. Coin USDC comes next with $60.4 billion in assets, and Ethena USDe comes in third with almost $5 billion. With authorized amounts of $2.3 billion and $1.8 billion, networks like Solana and Avalanche are still behind as the stablecoin market grows. 

The USD1, which was just released by President Trump’s World Liberty Financial, has gained more than $2.1 billion in value. For the most part, these funds are linked to MGX’s $2 billion investment in Binance.

Other well-known stablecoins are Ripple USD and PayPal’s PYUSD. They have accumulated assets of $900 million and $313 million, respectively. This week, stablecoins have kept up their fast growth, and their market value reached a new high of $243.8 billion.

Meanwhile, Tether has created $1 billion worth of USDT on the Tron blockchain. This means that it now has more authorized supply than Ethereum. This is the start of a new phase in the fight between the two networks to be the most popular stablecoin.

The openness data from Tether shows that Tron’s authorized USDT now exceeds $74.7 billion, passing Ethereum’s $74.5 billion. When it comes to the amount of money that is actually in circulation, Tron has $73.6 billion, while Ethereum has $71.8 billion.

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