Bybit Launches 25,000 USDT Campaign to Boost Fiat Deposits and Payments

Cryptocurrency exchange Bybit has launched a promotional campaign with a 25,000 USDT prize pool aimed at increasing the use of its fiat currency deposit channels and its Bybit Pay service. The event, titled "Fiat & Pay Summer Splash," runs until July 15, 2026, at 10 a.m. UTC, according to a company announcement.

Campaign Mechanics

The promotion rewards participants with entries into a lucky draw for a share of the prize pool. Rewards are contingent on users completing specific deposit and spending tasks after registering for the event and completing identity verification.

To earn entries, participants must meet the following criteria:

• New Users: Receive one entry for a minimum fiat deposit of 100 USDT.
• All Users: Can earn up to five entries for deposits of at least 1,000 USDT.
• New Bybit Pay Users: Receive one entry for spending a minimum of 25 USDT.
• All Bybit Pay Users: Can earn up to five entries for spending at least 50 USDT.

Ad

Eligible deposit methods include the exchange's Peer-to-Peer (P2P) Trading platform, direct Fiat Deposit, and its One-Click Buy feature.

Context and Exclusions

This type of campaign is a common user acquisition and engagement strategy for cryptocurrency exchanges, designed to boost platform liquidity by encouraging fiat on-ramping and promote the adoption of integrated payment services. Bybit is described in its press release as the world's second-largest crypto exchange by trading volume.

The company stated that rewards will be distributed to eligible users' accounts within 14 working days after the campaign concludes. However, the promotion is subject to significant geographical restrictions and is not available to users in the European Economic Area, Kenya, Nigeria, South Africa, Indonesia, the Philippines, Vietnam, and several other jurisdictions.