Key facts
- Bybit has launched a new RWA Earn platform offering tokenized bond funds.
- The platform features the PIMCO Dynamic Income Opportunities Fund and the CMBI Investment Grade Bond Fund.
- These funds are tokenized by DigiFT and utilize Plume's onchain infrastructure.
- Eligible users can subscribe to the funds using USDC without incurring subscription, redemption, or onchain transaction fees.
- The tokenized asset market is currently valued at $31.8 billion, with tokenized US Treasuries being the largest segment.
Crypto exchange Bybit has expanded its real-world asset (RWA) offerings by launching tokenized bond funds from PIMCO and China Merchants Bank International (CMBI) on its new RWA Earn platform. The initiative aims to meet growing demand for blockchain-based real-world assets.
The RWA Earn platform initially features two tokenized funds: the PIMCO Dynamic Income Opportunities Fund, which invests in various fixed-income assets, and the CMBI Investment Grade Bond Fund, focusing on Asian and global investment-grade credit. These funds are tokenized by DigiFT, a regulated digital asset exchange in Singapore and Hong Kong, with Plume providing the necessary onchain infrastructure for subscriptions and fund allocation.
Bybit users can subscribe to these products using USDC, and the exchange will not charge subscription, redemption, or onchain transaction fees. However, the products are not principal protected, and returns are not guaranteed.
The launch occurs as the tokenized real-world asset sector continues to grow. Data from RWA.xyz indicates the market was valued at $31.8 billion as of June 12, with tokenized US Treasury products leading the market at approximately $14.9 billion. Commodities, asset-backed credit, and tokenized stocks follow, with market shares of $4.7 billion, $2.2 billion, and $1.5 billion, respectively. Plume Network itself supports over 210 tokenized assets and has facilitated over $512 million in RWA transfer volume in the past 30 days.
This move by Bybit aligns with a broader trend of crypto companies and traditional finance firms exploring tokenized RWAs. Other recent developments include OKX integrating BlackRock's tokenized Treasury fund for institutional clients and Archax launching a system on Hedera for real-time interest payments on tokenized securities. JPMorgan has also filed to launch a tokenized money market fund on Ethereum.