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Bybit partners with Cabital to offer EUR and GBP fiat onramps

Today, Singapore-based crypto exchange, Bybit, announced a new partnership with digital asset institution Cabital for EUR and GBP on-ramp integration. Users of the Bybit crypto exchange platform 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 release, Cabital’s fiat-to-crypto on- and off-ramp service allows Bybit customers to purchase cryptocurrencies at a lower gas cost without having to leave the platform. Bybit is Cabital’s first partner to offer its fiat on and off disaster infrastructure used for cryptocurrency exchanges. Ben Zhou, co-founder and CEO of Bybit, explained that Cabital’s goals to develop an innovative and reliable crypto experience align with theirs, adding: “We at Bybit are excited to to enter into this new partnership with Cabital and look forward to empowering people from all walks of life to realize their financial goals through crypto.Let’s revolutionize the industry together.” In late January, Bybit announced it would put $134 million in the BitDAO Treasury in the form of Ether (ETH), Tether (USDT) and USD Coin (USDC), as well as completing Ethereum layer-2 solution Arbitrum integration. Related: Bybit crypto exchange to impose KYC rulesBybit’s integration of the Arbitrum network allows users to deposit and withdraw ETH, USDT and USDC on the Arbitrum network.Other benefits include less expensive gas costs than those on the Ethereum mainnet, faster transaction speeds and reduced latency thanks to Arbitrum’s optimistic roll-ups.
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