Bybit Expands Institutional-Grade Financial Services with nOPAL Launch

Bybit, the world's second-largest cryptocurrency exchange by trading volume, has expanded its institutional-grade financial services through Bybit RWA Earn. The platform now offers nOPAL, 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.

nOPAL's yield is generated when Brazilian merchants sell their future credit card receivables to BlackOpal at a discount in exchange for upfront cash. The full amount is paid directly to BlackOpal, and the discount becomes the yield distributed to investors.

BlackOpal has secured institutional commitments of over $300 million to be deployed over the next 12 months, spanning both Web3-native and traditional asset allocators. nOPAL's track record shows a 30-day rolling yield of approximately 12% and holds over $70 million in total value locked.

nOPAL is now available on Bybit RWA Earn to eligible investors through the RWA Earn product category, alongside two tokenized institutional bond funds. To mark the launch, eligible participants will receive an additional promotional APR on top of nOPAL's underlying yield.