Cabital's fiat to-crypto on/off ramp service allows Bybit customers, reportedly at lower gas prices, to buy cryptocurrencies.
Bybit, a crypto exchange based in Singapore, announced Tuesday a partnership with Cabital, a digital assets institution, for the euro (EUR) and British pound sterling(GBP) on-ramp integration.
Bybit users can now buy cryptocurrency using EUR or GBP through Cabital's fiat-to-crypto on-ramp solution. There are no transfer fees between their Bybit wallets and Cabital wallets. Cabital's fiat to-crypto off-ramp service, according to the release, allows Bybit customers the ability to buy cryptocurrencies at lower gas prices without leaving the platform.
Cabital's first partner, Bybit, has used its fiat on/off-ramp infrastructure to support cryptocurrency exchanges. Bybit's co-founder and CEO Ben Zhou explained that Cabital shares the same goals as them, namely to create a reliable and innovative crypto experience.
"We at Bybit are delighted to announce our new partnership with Cabital and look forward to helping people from all walks of the life achieve their financial goals via crypto. Let's make this an industry revolution together.
Bybit announced in January that it would contribute $134 million to the BitDAO Treasury. This will be in the form Ether (ETH), Tether(USDT), and USD Coin (USDC). It also completed the integration of Ethereum layer-2 solution Arbitrum.
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Bybit's integration with the Arbitrum Network allows users to deposit or withdraw USDT, ETH and USDC via the Arbitrum network. Arbitrum's optimistic rollups offer additional advantages over Ethereum's mainnet, such as lower gas fees, faster transaction speeds, and reduced latency.