Bybit, one of the world's fastest-growing cryptocurrency exchanges, will soon release its USDC perpetual contracts. The new product will allow users to trade using their USDC balance on Bybit's derivatives exchange.

Bybit's new USDC perpetual contract will first open to whitelisted traders, allowing them to use USDC as collateral and place long or short contracts with up to 100x leverage and no expiration date.

Taking bitcoin perpetual as an example, traders will be able to place an order based on the quantity of bitcoin, and calculate the margin, profit, and loss based on USDC. The new contract joins Bybit's other perpetual offerings that accept USDT and several cryptocurrencies (BTC, ETH, EOS, and XRP) as collateral.