Bybit Launches Promotional Campaign with 25,000 USDT Prize Pool to Boost Fiat Usage

Cryptocurrency exchange Bybit has launched a promotional campaign aimed at increasing user engagement with its fiat currency and payment services. The "Fiat & Pay Summer Splash" event features a 25,000 USDT prize pool available to eligible participants, according to a company announcement.

Campaign Mechanics

The promotion runs from July 2, 2026, through July 15, 2026, at 10 a.m. UTC. Bybit stated that rewards are limited and will be distributed on a first-come, first-served basis. To be eligible, users are required to register for the event and complete at least Level 1 of the exchange's Identity Verification process.

Participants can earn entries into a lucky draw for a share of the prize pool by completing specific deposit and spending tasks. The structure is designed to attract both new and existing customers.

• New Users: Can receive one lucky draw entry by depositing at least 100 USDT through eligible fiat channels or by spending a minimum of 25 USDT using Bybit Pay.
• All Users: Can earn additional entries by depositing at least 1,000 USDT or spending at least 50 USDT with Bybit Pay. The campaign allows for up to five entries from deposits and five from spending per user.

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Market Context and Restrictions

Promotional campaigns of this nature are a common strategy among cryptocurrency exchanges to stimulate platform activity, attract new users, and increase the adoption of integrated payment solutions like Bybit Pay. By incentivizing fiat deposits, exchanges aim to boost on-platform liquidity and subsequent trading volume.

However, the promotion is subject to significant geographical limitations. According to Bybit, the campaign is not available to users residing in the European Economic Area. Additionally, residents of several other countries—including Kenya, Nigeria, South Korea, Mexico, and the Philippines—are not eligible to receive rewards under this promotion.