The Singapore-based cryptocurrency exchange Bybit announced on Tuesday a new partnership with the digital asset company Capital for Euro (EUR) and the British pound (GBP).
Users of the Bybit Cryptocurrency Exchange can now use Euros and British Pounds to buy cryptocurrencies directly on the Capital’s solution system without transfer fees between their Bybit and Capital wallets. According to the post, Capital’s fiat-to-crypto conversion service allows Bybit customers to buy cryptocurrencies at discounted gas prices without leaving the platform.
Bybit is the first partner of Capital to use its fiat infrastructure for a cryptocurrency exchange. Ben Zhou, co-founder and CEO of Bybit, explained that Capital’s goal of developing an innovative and secure crypto experience is in line with theirs, adding the following:
“At Bybit, we are delighted to launch this new partnership with Capital and hope that people from all walks of life can achieve their economic goals with cryptocurrencies. Let’s revolutionize the industry together.”
In late January, Bybit announced that it would inject $ 134 million into the BitDAO coffers in the form of Ether (ETH), Tether (USDT) and the United States Dollar Coin (USDC) and complete the Ethereum Layer 2 Arbitrum integration.
Related: Bybit Crypto Exchange to Enforce Knowledge of Your Customer (KYC) Rules.
Bybit’s integration with the Arbitrum network allows users to insert and remove ETH, USDT and USDC on the Arbitrum network. Other benefits over the Ethereum network include lower gas charges, faster transaction speeds and faster response times due to Arbitrum’s optimistic merger.