Bybit Launches nOPAL Credit Vault Yield Product with 12% Rolling Yield

Bybit, a leading cryptocurrency exchange, has expanded its yield products by adding nOPAL, a Plume-based private-credit vault managed by BlackOpal Finance, to its RWA Earn platform.

nOPAL provides exposure to Brazilian credit-card receivables through discounted purchases from merchants. This means that when payments are settled, the difference between the purchase price and settlement amount becomes the yield for investors.

The vault uses currency hedging to reduce Brazilian real exposure and places receivables in a bankruptcy-remote structure. However, BlackOpal notes that settlements are directed to the registered holder rather than the merchant, which does not eliminate operational, liquidity or counterparty risk.

Eligible users can subscribe with a minimum of $500 USDC and redeem their investments at any time. Daily redemption requests are expected to settle within one to five business days.