Stablecoin issuer Circle (NYSE:CRCL) has reportedly struck a revenue-sharing agreement with Bybit, the world's second-largest crypto exchange, as part of its ongoing effort to expand the reach of its U.S. dollar-pegged USDC (CRYPTO: USDC) token, according to sources familiar with the deal.
While details of the arrangement remain undisclosed, it mirrors previous deals Circle has structured with other major exchanges like Coinbase (NASDAQ:COIN) and Binance, where platforms receive a portion of the yield generated from the reserves backing USDC, Coindesk reported.
