The Opportunity

As the world's second-largest cryptocurrency exchange by trading volume, Bybit holds accounts for millions of users and the stablecoins they keep on the platform.

Roughly $25 to $80 billion in stablecoins sits idle on centralized exchanges, one of the most commonly held assets there and one of the least productive. Real-world asset yield offers a way to put those balances to work without the protocol risk of chasing DeFi returns.

Bybit wanted to turn idle stablecoins into a productive holding for its users, while those users wanted institutional-grade returns from the account they already use.

The Solution

Plume and Bybit launched Bybit RWA Earn, structured income products available directly inside the Bybit platform, with DigiFT serving as the regulated tokenization layer.

The product is built on a yield-bearing RWA Token backed by two institutional portfolios. The PIMCO Dynamic Income Opportunities Fund (PDO), managed by the $2.27 trillion asset manager PIMCO, holds mortgage-backed securities, high-yield corporate bonds, and diversified U.S. credit. The CMB International Investment Grade Bond Fund (CMBI) covers investment-grade bonds across Asia-Pacific markets.

Plume Vaults provided the compliant, non-custodial infrastructure, and DigiFT served as the issuance layer.

Plume served as the home for the product, as its infrastructure and regulatory architecture, including a Bermuda Monetary Authority Licence and SEC Transfer Agent registration, enabled compliant institutional deployment at scale.

The Results

For the first time, Bybit's 80 million+ users can access institutional-grade fixed income strategies from PIMCO and CMBI directly from their existing exchange accounts.

The yield flows from coupons, dividends, and interest on the underlying securities, with no direct correlation to crypto price movements, making it a durable source of return through market volatility. Packaged as structured income products, these vaults are familiar to retail users, similar to investment products found on platforms like Charles Schwab and Fidelity.

The launch brings strategies institutional investors and family offices have relied on for decades onchain, now available to anyone on the platform that 80 million users already trade on, rather than only those clearing million-dollar minimums and accredited investor thresholds.