This stablecoin is primarily backed by BlackRock's USD Institutional Digital Liquidity Fund Token, which invests in cash and short-term U.S. government obligations.

USDtb promises faster and cheaper transactions compared to traditional banking, while also providing stable returns with principal protection.

Jerry Li, Bybit's Head of Earn & Wealth Management, emphasized that USDtb bridges traditional finance with digital assets, enhancing transparency and security for users.

To celebrate the launch, Bybit is offering a limited-time 5% Annual Percentage Rate (APR) on USDtb holdings for new and existing users from March 6 to April 4, 2025.

The 5% APR rewards will be distributed in USDtb and will continue to yield on Treasury Bills even after the promotional period ends.

On March 6, 2025, Bybit made history by becoming the first cryptocurrency exchange to list USDtb, a new stablecoin developed by Ethena Labs.

The listing of USDtb on Bybit's Spot trading began on March 4, 2025, with withdrawals opening the following day.

USDtb combines the liquidity of stablecoins with the security and transparency of institutional-grade U.S. Treasury assets, offering a fresh option for digital currency investors.

The promotional rewards for USDtb holders will be distributed in a first-come, first-served manner, capped at 200 million USDtb tokens.

Eligible users can participate in this event to earn 5% APR on a minimum of 0.00005 USDtb, with total rewards also capped at 200 million USDtb tokens.

Founded in 2018, Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 60 million users globally and focusing on creating an open ecosystem within the decentralized finance space.

Bybit aims to foster innovation in decentralized finance while offering advanced blockchain tools and secure custody for its users.