Bybit, the world’s second-largest cryptocurrency exchange by trading volume, becomes the first platform to include USDtb, a blockchain-based USD stablecoin created and managed by Ethena Labs, on its Spot exchange. USDtb combines the liquidity of stablecoins with the security and transparency of institutional-grade U.S. Treasury assets, marking a pivotal innovation in the evolution of digital dollars.
USDtb is backed primarily by BlackRock's USD Institutional Digital Liquidity Fund Token (BUIDL), which holds 100% of its assets in cash, U.S. Treasury Bills, and other short-term U.S. government obligations. This conservative and transparent backing makes USDtb a compelling option for investors seeking both stability and yield in the digital asset ecosystem.
A New Chapter in Stablecoins
Unlike traditional stablecoins, USDtb blends tokenized U.S. Treasury fund products with a stablecoin reserve, delivering a unique combination of stability, flexibility, and instant liquidity. This next-generation stablecoin enables faster, cheaper transactions compared to traditional banking systems, while offering users stable returns with principal protection — echoing the success of Ethena Labs’ USDe.
Key Timeline
USDtb Listing on Spot Trading: Mar 4, 2025, 8AM UTC
USDtb Withdrawals Open: Mar 5, 2025, 8AM UTC
USDtb 5% Airdrop: 1st Snapshot on Mar 6, 2025
First Reward Distribution: Before Mar 7, 6AM UTC
Deposits and withdrawals will be available via the ETH network.
Exclusive 5% APR Boost for Bybit Users
To celebrate the listing, Bybit is offering 5% Annual Percentage Rate (APR) on USDtb holdings for new and existing eligible users with no lock-up requirements. From Mar. 6 to Apr. 4, eligible Bybit users may 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.
Rewards will be distributed in USDtb on a first-come, first-served basis, and capped at a total of 200 million in USDtb tokens. The APR will be gradually decreasing after the cap is reached. However, all USDtb holders on Bybit will continue to earn rewards indefinitely after the promotional period ends.
"By listing USDtb, Bybit is pioneering a new frontier for stablecoins — bridging traditional finance and digital assets with unprecedented transparency and institutional-grade security," said Jerry Li, Head of Earn & Wealth Management at Bybit. "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."
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