Bybit, the exchange based in Dubai, recently announced the listing of 5ire, a blockchain project that combines sustainability and state-of-the-art technology. After the listing of the 5ire/USDT token, its value has quadrupled.
Bybit Embraces Technological and Ethical Advancements
The 5ireChain’s native token 5ire has been launched on the Ethereum blockchain. It was designed and built by Pratik Gauri, a serial Indian entrepreneur. The protocol was designed as a layer-1 Ethereum Virtual Machine (EVM) compatible smart contract, with an emphasis on building a blockchain ecosystem that is for-benefit. Sustainable Development Goals (SDGs) as defined by the United Nations (UN) were taken into account.
In a press release shared with Coinspeaker, Bybit has listed 5ire on its Launchpad, providing investors with an exclusive opportunity to access pre-listed or new tokens early. To be eligible, investors must have paid a certain amount of Mantle (MNT) and Tether’s stablecoin USDT on the platform. The token’s listing on Bybit re-enforces their commitment to supporting projects that can benefit the industry and its CEO, Ben Zhou, said: “5ire’s integration with Bybit is not just a success story about investment returns; it’s a leap forward in blockchain’s evolution towards sustainability. This listing reinforces our commitment to supporting not only technologically advanced but also ethically grounded projects.”
Bybit’s Industry Standing and Global Presence
Bybit was launched in March 2018 and has since become one of the most trusted exchanges in the industry. The exchange prides itself on being the third-largest digital asset trading platform, next to Binance and Coinbase. It boasts 20 million active users and offers spot and derivatives trading.
Despite its headquarters being located in the United Arab Emirates, Bybit offers its services to users all over the world. In June 2023, the company was granted a license by the regulatory authority in Cyprus, allowing them to explore the market and provide their products to users in the EU.
The company announced that it can now legally offer its suite of products, including trading crypto pairs with fiat currencies, financial services for crypto assets, and custody solutions tailored to clients.