2025-3-9 21:26 |
The world’s leading cryptocurrency trading platform, Bybit, has announced the listing of blockchain-based USD stablecoin USDtb on its spot exchange.
This remarkable development positions Bybit as the first cryptocurrency exchange to offer users access to USDtb. The Head of Earn & Wealth Management at Bybit, Jerry Li, acknowledged this saying;
“We are proud to be the first to introduce this innovative asset to our users, expanding their options for both secure savings and dynamic trading opportunities, all while maintaining the seamless experience Bybit is known for.”
Created and managed by Ethena Labs, USDtb is unique among stablecoins as it combines the liquidity of stablecoins with the security and transparency of institutional-grade U.S. Treasury assets.
Notably, the stablecoin is a compelling option for investors seeking stability and yield in the digital asset ecosystem as it is primarily backed by BlackRock’s USD Institutional Digital Liquidity Fund Token (BUIDL). While it marks a great fit for USDtb’s vision, BUIDL holds 100% of its assets in cash, U.S. Treasury Bills, and other short-term U.S. government obligations.
The launch of USDtb on Bybit aims to strengthen the exchange’s commitment to providing robust infrastructure and driving on-chain innovation within its ecosystem. As such, Bybit users will have the opportunity to enjoy a unique combination of stability, flexibility, and instant liquidity.
According to the announcement, USDtb’s listing on Bybit’s spot trading has been scheduled for March 4, 2025. Hence, withdrawal options for the stablecoin will commence on March 5, 2025, at 8 AM UTC.
Furthermore, Bybit offers 5% Annual Percentage Rate (APR) on USDtb holdings for new and existing eligible users with no lock-up requirements. The airdrop will happen after the first snapshot on Mar 6, 2025.
As such, eligible Bybit users will be allowed to join the Bybit exclusive event to enjoy the limited-time 5% APR on USDtb holdings, starting at a minimum of 0.00005 USDtb. Holders will continue to enjoy 95% of the yield on Treasury Bills after the 1st month.
Jerry further commented on the USDtb listing saying;
“By listing USDtb, Bybit is pioneering a new frontier for stablecoins, bridging traditional finance and digital assets with unprecedented transparency and institutional-grade security.”
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