Bybit Brings Institutional-Grade Credit Opportunities to Crypto-Native Capital

Bybit, the world's second-largest cryptocurrency exchange by trading volume, has expanded its institutional-grade financial offerings through the addition of nOPAL to Bybit RWA Earn. This move allows users to access a yield source drawn from real commercial activity with currency risk hedged and liquidity actively managed.

nOPAL is an on-chain credit product built on Brazilian credit card receivables, managed by BlackOpal Finance and structured as a vault on open finance platform Plume. The strategy has secured institutional commitments of over $300 million to be deployed over the next 12 months, spanning both Web3-native and traditional asset allocators.

As of August 2026, nOPAL has recorded a 30-day rolling yield of approximately 12% and holds over $70 million in total value locked. Since November 2025, the strategy behind nOPAL has purchased more than 7,000 receivables with zero defaults and zero credit losses.

Subscriptions and redemptions are denominated in USDC, with a minimum investment of 500 USDC and no subscription or redemption fees. The product carries no consumer credit risk as payment comes from regulated acquirers through the card networks, not from the merchant.