Bybit Introduces Yield-Bearing Product Tied to Tokenized Gold
Bybit has launched a new product that allows users to earn passive income on their holdings of XAUT, a tokenized gold product tied to the price of gold. The crypto exchange announced the offering on Thursday, marking a shift away from traditional crypto trading products.
XAUT is the largest tokenized gold product by market capitalization, with a market cap of nearly $3 billion earlier this month. Historically, tokenized gold has been used as a passive store of value without any income component.
Bybit's new product adds a yield layer on top of gold exposure, allowing users to earn returns while still benefiting from the price movements of gold.
The launch follows similar moves by other exchanges and platforms. Tokenization platform Theo announced a $100 million structured investment facility backing its gold-linked, yield-bearing stablecoin thUSD earlier this week.