Bybit Lists USDtb Stablecoin Backed by BlackRock Treasury Funds

Coin WorldThursday, Mar 6, 2025 8:08 am ET

1min read

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has made a significant move by becoming the first platform to list usdtb, a blockchain-based USD stablecoin created and managed by Ethena Labs. This listing marks a pivotal innovation in the evolution of digital dollars, as USDtb combines the liquidity of stablecoins with the security and transparency of institutional-grade U.S. Treasury assets.

USDtb is primarily backed 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 an attractive option for investors seeking both stability and yield in the digital asset ecosystem. 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.

Bybit has outlined a key timeline for the listing of USDtb. The stablecoin was listed on Spot Trading on March 4, 2025, at 8 AM UTC, with withdrawals opening on March 5, 2025, at 8 AM UTC. Additionally, a 5% airdrop of USDtb was initiated with the first snapshot taken on March 6, 2025, and the first reward distribution is scheduled to occur before March 7, 2025, at 6 AM UTC. Deposits and withdrawals will be available via the ETH network.

To celebrate the listing, Bybit is offering a 5% Annual Percentage Rate (APR) on USDtb holdings for new and existing eligible users with no lock-up requirements. From March 6 to April 4, eligible Bybit users can join the 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 first month. Rewards will be distributed in USDtb on a first-come, first-served basis, capped at a total of 200 million in USDtb tokens. The APR will gradually decrease

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