Bybit Introduces Tokenized Bond Products from PIMCO and CMBI in RWA Expansion
Qualified customers gain entry to institutional bond funds in tokenized form as the market for real-world assets on blockchain technology sees sustained expansion.
The cryptocurrency exchange Bybit has announced it will provide qualified clients with entry to bond funds in tokenized form from PIMCO and China Merchants Bank International, furthering its expansion into the real-world asset sector via collaborations with Plume and DigiFT.
The newly launched RWA Earn platform from Bybit features two tokenized bond products: the PIMCO Dynamic Income Opportunities Fund (PDO), a fund that allocates capital across various fixed-income instruments such as corporate debt, mortgage-backed securities and government bonds, alongside the CMBI Investment Grade Bond Fund, a fund concentrating on investment-grade credit across Asian and global markets.
Based on the announcement released Monday, the tokenization of these funds takes place through DigiFT, a platform for digital assets with regulatory approval in Singapore and Hong Kong, whereas Plume delivers the blockchain infrastructure utilized for subscriptions and the allocation of fund assets.
Information from RWA.xyz indicates that Plume maintains more than 250,000 holders of RWA and facilitates over 210 assets in tokenized form. During the most recent 30-day period, the network handled in excess of $512 million in transfer volume for RWA.
Tokenized asset sector grows beyond Treasuries
This platform introduction arrives during a period when real-world assets in tokenized form are experiencing increasing adoption across conventional finance and cryptocurrency sectors alike. Data from RWA.xyz indicates the market for tokenized assets reached a valuation of $31.8 billion as of June 12, with tokenized products based on US Treasury securities leading the category at approximately $14.9 billion in total assets.
Tokenized assets representing commodities made up roughly $4.7 billion of the market, with asset-backed credit following at $2.2 billion and stocks in tokenized form totaling approximately $1.5 billion.
Cryptocurrency platforms have progressively broadened their utilization of real-world assets in tokenized form beyond straightforward buy-and-hold investment vehicles. During April, OKX incorporated BlackRock's BUIDL tokenized Treasury fund within its collateral infrastructure, providing eligible institutional clients the capability to utilize the yield-generating asset for trading margin purposes.
During the previous week, Archax introduced a mechanism on Hedera that facilitates real-time payment of interest for securities in tokenized form, enabling cash flows to accompany assets as ownership transfers occur onchain.
This movement has additionally drawn the attention of prominent Wall Street institutions. During May, JPMorgan submitted filings to introduce a money market fund in tokenized form on Ethereum (ETH).