Bybit Bonds With PIMCO and CMBI — Tokenized Yield Comes Bearing Zero Fees 🏦

Bybit is expanding its real-world asset offerings with the launch of an RWA Earn platform featuring two tokenized bond funds managed by PIMCO and China Merchants Bank International. The products, announced Monday, mark the exchange's latest move into tokenized fixed-income through partnerships with Plume and DigiFT, a digital asset exchange regulated in Singapore and Hong Kong.

The platform's debut funds include the PIMCO Dynamic Income Opportunities Fund (PDO), which invests across fixed-income assets such as corporate debt, mortgage-backed securities and government bonds, and the CMBI Investment Grade Bond Fund, which targets investment-grade credit in Asian and global markets. Subscriptions are processed through Plume's onchain infrastructure, with DigiFT handling the tokenization layer.

Bybit said eligible users can subscribe using USDC without paying subscription, redemption or onchain transaction fees, though it noted the products are not principal protected and returns are not guaranteed. RWA.xyz data shows Plume has more than 250,000 RWA holders and supports over 210 tokenized assets, with the network processing more than $512 million in RWA transfer volume over the past 30 days.

The launch comes as the broader tokenized asset market continues to expand beyond US Treasuries. According to RWA.xyz, the sector was valued at $31.8 billion as of June 12, with tokenized US Treasury products leading at roughly $14.9 billion, followed by commodities at around $4.7 billion, asset-backed credit at $2.2 billion and tokenized stocks at approximately $1.5 billion.

Major crypto firms and traditional financial institutions have been pushing deeper into tokenized assets. In April, OKX integrated BlackRock's BUIDL tokenized Treasury fund into its collateral framework, allowing eligible institutional clients to use the yield-bearing asset as trading margin. Last week, Archax launched a system on Hedera that enables real-time interest payments for tokenized securities, and in May, JPMorgan filed to launch a tokenized money market fund on Ethereum ($ETH).