Bybit Adds USDT0 on Mantle to Enhance Cross-Chain Stablecoin Liquidity
Bybit's USDT0 Integration: Bybit has launched support for USDT0 deposits and withdrawals on the Mantle Network, enhancing cross-chain stablecoin transfers and establishing Mantle as a leading Layer 2 network by total value locked (TVL).
Seamless Cross-Chain Transfers: The integration allows users to deposit and withdraw USDT0 with zero fees initially, providing a centralized liquidity hub while maintaining direct access to on-chain applications and cross-chain activities.
Liquidity Unification: USDT0 utilizes a mint-and-burn model to ensure a 1:1 backing and eliminate liquidity fragmentation, promoting a standardized cross-chain stablecoin ecosystem.
Strategic Collaborations: Bybit's partnership with Mantle and USDT0 reflects a growing trend towards interoperability in stablecoins and includes a collaboration with Taxbit for improved tax reporting and compliance for users.
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