Bybit collaborates with Cabital to provide EUR and GBP fiat onramps

Bybit customers are reportedly able to purchase cryptocurrencies at lower gas costs thanks to Cabital’s fiat-to-crypto on and off ramp service.

Bybit, a Singapore-based cryptocurrency exchange, announced a new partnership with digital assets institution Cabital on Tuesday for the integration of euro (EUR) and British pound sterling (GBP) on-ramps.

Bybit crypto exchange platform users can now use EUR and GBP to buy cryptocurrency directly on the system through Cabital’s fiat on-ramp solution, with no transfer fees between their Bybit and Cabital wallets. According to the press release, Cabital’s fiat-to-crypto on- and off-ramp service enables Bybit customers to purchase cryptocurrencies at lower gas costs without leaving the platform.

Cabital’s first partner is Bybit, which will use its fiat on- and off-ramp infrastructure for cryptocurrency exchanges. Bybit co-founder and CEO Ben Zhou explained that Cabital’s goals of developing an innovative and dependable crypto experience are similar to theirs, adding that:

 

“We at Bybit are excited to begin this new partnership with Cabital, and we look forward to empowering people from all walks of life to achieve their financial goals through cryptocurrency.” Let us work together to revolutionise the industry.”

 

Bybit announced in late January that it would contribute $134 million to the BitDAO Treasury in the form of Ether (ETH), Tether (USDT), and USD Coin (USDC), as well as the completion of Ethereum layer-2 solution Arbitrum integration.

 

Users can deposit and withdraw ETH, USDT, and USDC on the Arbitrum network thanks to Bybit’s integration. Other advantages of Arbitrum over Ethereum’s mainnet include lower gas fees, faster transaction speeds, and lower latency due to Arbitrum’s optimistic roll-ups.

 

Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.

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