Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced a landmark partnership with Plasma, a next-generation Layer 1 blockchain optimized for stablecoin payments. The collaboration brings XPL trading, zero-fee USDT transfers, and a suite of rewards and staking opportunities to Bybit users worldwide.

“Bybit is committed to making digital assets faster, cheaper, and more accessible,” said a spokesperson for Bybit. “Integrating Plasma’s capabilities allows us to redefine what’s possible for everyday crypto payments.”

Lightning-Fast, Zero-Fee USDT Transfers

Starting September 29, 2025, Bybit users can deposit and withdraw USDT via Plasma without paying network fees, a move that could make stablecoin transfers far more cost-effective for retail and institutional users alike. A minimum base withdrawal fee of 2 USDT applies, but Bybit will cover all network and transaction fees until the allocated promotional pools are exhausted.

The upgrade comes at a critical moment: stablecoin supply has surged to $283.2 billion, with 25.2 million monthly active senders, highlighting growing demand for efficient, low-cost payment rails.

XPL Listing and Token Incentives

Bybit is listing Plasma (XPL) on Spot, accompanied by the XPL Tokensplash campaign:

• New Users: From Sept. 24, deposit or trade to share in a 3 million XPL pool, with the first 10,000 participants earning 300 XPL each.
• Existing Users: Starting Sept. 25, trade at least 500 USDT of XPL on Spot to qualify for a 6 million XPL pool, capped at 10,000 XPL per user.

The campaign is designed to drive adoption, increase liquidity, and reward both newcomers and loyal traders.

Chain-Powered USDT Deposit Lucky Draw

From Sept. 29 to Oct. 13, 2025, deposits via Plasma make users eligible for a $100,000 USDT reward pool. Each deposit earns lucky draw tickets, with prizes ranging from 0.5 USDT to 100 USDT, credited directly to winners’ accounts. The draw is accessible to both new and existing users under different criteria, incentivizing broader participation in the Plasma network.

Exclusive Staking Rewards – Up to 100% APR

To further accelerate adoption, Bybit is offering staking via Plasma from Sept. 29 to Oct. 29:

• New Users: 100% APR
• All Users: 20% APR
• VIP Users: 25% APR with higher caps

Participants must meet a net deposit of at least 100 USDT via Plasma to access the staking pool. Subaccounts, institutional accounts, and users in restricted jurisdictions, including the European Economic Area, are excluded.

Industry Context

This partnership signals a broader trend in the crypto sector: exchanges are increasingly leveraging purpose-built Layer 1 networks for low-cost, high-speed stablecoin transfers. Bybit’s move is reminiscent of prior innovations like Solana’s USDC rails and Ethereum Layer 2 scaling, but Plasma specifically targets zero-fee stablecoin transactions—a niche that could appeal to both retail and high-frequency traders.

With startups raising over $620 million in stablecoin infrastructure in 2025 alone, the timing is strategic. Exchanges that can deliver fast, affordable, and scalable stablecoin solutions may capture a significant slice of growing demand.

Bottom Line

Bybit’s integration with Plasma reduces friction in stablecoin payments, rewards users for adoption, and positions the exchange as a leader in Layer 1-enabled trading innovation. For users, it’s faster transactions, zero network fees, and a suite of staking and rewards incentives. For the industry, it’s a reminder that efficient stablecoin rails are the next frontier in crypto payments.