In a significant move for its VIP clientele, Bybit has introduced BYUSDT, a new proprietary token designed to enhance trading flexibility for its users. The source reports that this launch positions Bybit as a forward-thinking player in the competitive cryptocurrency exchange market.
Introducing BYUSDT for VIP Users
BYUSDT allows eligible VIP users to convert their USDT Flexible Earn balances into trading margin while still earning yield on their holdings. This innovative token is pegged 1-to-1 with users' USDT in the Flexible Earn program, ensuring a 100 percent collateral value ratio for margin trading within Bybit's Unified Trading Account.
Availability and User Benefits
The new product will be available starting at 2 pm UTC on December 12, providing a unique opportunity for VIP users to mint, hold, and utilize BYUSDT according to the platform's terms and conditions. Bybit's latest offering underscores its commitment to enhancing user experience and expanding trading options for its most valued customers.
In a related development, the BNB token plays a crucial role in the BNB Smart Chain, enhancing its functionality and governance. For more details, see BNB Smart Chain.
