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

Cryptocurrency exchange Bybit has launched a promotional campaign, the "Fiat & Pay Summer Splash," featuring a 25,000 USDT prize pool to boost user engagement with its fiat currency and payment services. The event, which is now live, aims to incentivize both new and existing customers to use the platform's on-ramps for traditional currency and its proprietary payment system.

Campaign Details

According to the company's announcement, the campaign runs through July 15, 2026, at 10 a.m. UTC. Participants can earn entries into a lucky draw for a share of the prize pool by completing specific deposit and spending tasks. Bybit noted that rewards are limited and will be distributed on a first-come, first-served basis.

To be eligible, users must register for the campaign and complete the platform's Identity Verification process. The promotion is designed to drive activity in key services that bridge traditional finance and the digital asset ecosystem.

Participation Requirements

Users can earn lucky draw entries through two primary methods:

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• Fiat Deposits: New users can earn one entry by depositing a minimum of 100 USDT through eligible channels like P2P Trading, Fiat Deposit, or One-Click Buy. All users can earn up to five entries for deposits of at least 1,000 USDT.
• Bybit Pay Transactions: New users spending at least 25 USDT via Bybit Pay will receive one entry. Additional entries, up to a maximum of five, are available for all users who spend at least 50 USDT.

Rewards are scheduled for distribution to participants' accounts within 14 working days after the campaign concludes. However, the promotion is not available in several jurisdictions, including the European Economic Area, mainland China, and Nigeria, reflecting the complex regulatory landscape for crypto-related marketing initiatives.

Market Context

This type of campaign is a common strategy among major cryptocurrency exchanges to attract new users and increase platform liquidity. By incentivizing fiat on-ramps, Bybit aims to lower the barrier to entry for investors looking to convert traditional currency into digital assets. Simultaneously, promoting the Bybit Pay feature encourages the utility of crypto for transactions beyond trading, a critical step for broader adoption.