Cryptocurrency exchange Bybit is offering eligible users access to tokenized bond funds managed by PIMCO and China Merchants Bank International (CMBI), the latest sign of how digital asset platforms are using blockchain infrastructure to bring traditional fixed-income investments to crypto-native investors.
The launch comes as tokenized real-world assets (RWAs) gain traction across both traditional and decentralized finance, with exchanges and asset managers seeking to connect digital asset markets with conventional investment products such as bonds, money market funds and private credit.
Bybit’s new RWA Earn platform enables eligible users to subscribe to tokenized bond funds through infrastructure provided by Plume, an open finance platform, and DigiFT, a digital asset exchange licensed in Singapore and Hong Kong.
The offering includes the PIMCO Dynamic Income Opportunities Fund (PDO), managed by fixed-income giant PIMCO, which oversees $2.26 trillion in assets under management, and the CMBI Investment Grade Bond Fund (CMIGB), managed by China Merchants Bank International Asset Management.
The products allow users to subscribe using USDC stablecoins without leaving the crypto ecosystem, a structure that Bybit says lowers barriers that have traditionally limited access to institutional fixed-income strategies.
“Crypto traders have never had a straightforward way to access institutional bond markets,” Jerry Li, head of financial products and wealth management at Bybit, said in a statement.
The launch coincides with growing interest in tokenized financial assets. Industry participants increasingly view blockchain-based distribution as a way to improve accessibility, settlement efficiency and transparency for investment products that have historically been available only through traditional financial intermediaries.
DigiFT provides the regulated tokenization and distribution infrastructure for the funds, while Plume facilitates on-chain subscriptions and fund allocations through its vault system.
The underlying assets are held in institutional custody by State Street Bank for the PIMCO fund and CMB Wing Lung Trustee for the CMBI fund.
Bybit said no subscription, redemption or blockchain transaction fees will be charged to eligible users.
The exchange has expanded its efforts to bridge traditional and digital finance in recent years, introducing products linked to equities, commodities and other asset classes.
The addition of tokenized bond funds marks its first move into institutional fixed-income investments through its RWA strategy.