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Bybit partners with Cabital: EUR and GBP fiat onramps

 


On Tuesday, Singapore-based crypto exchange Bybit announced a new partnership with digital asset specialist Cabital. As part of this partnership, the euro (EUR) and British pound (GBP) have been integrated into the exchange.


Bybit crypto exchange platform users can now use EUR and GBP and buy cryptocurrencies directly in the system via Cabital's fiat on ramp solution without incurring transfer fees between their Bybit and Cabital wallets. According to the announcement, Cabital's fiat-to-crypto on and off ramp service enables Bybit customers to buy cryptocurrencies with lower transaction costs without having to leave the platform.


Bybit is Cabital's first partner to leverage its fiat on- and off-ramp infrastructure for cryptocurrency exchanges. Ben Zhou, Bybit's co-founder and CEO, stated that Cabital has the same goal as the crypto exchange, which is to create an innovative and reliable crypto experience. To this he explained:


"At Bybit, we are excited about this new partnership with Cabital and look forward to helping people from all walks of life achieve their financial goals with cryptocurrencies. Let's revolutionize the industry together."

At the end of January, Bybit announced plans to deposit $134 million in Ether ( ETH ), Tether ( USDT ) and USD Coin ( USDC ) into the BitDAO treasury and to integrate the Ethereum Layer Two solution Arbitrum.


Arbitrum 's integration with Bybit allows users to deposit and withdraw ETH, USDT, and USDC via the Arbitrum network. Other benefits over the Ethereum mainnet include lower gas fees, faster transaction speeds, and lower latency due to Arbitrum's Optimistic roll-up.

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