Bybit, DigiFT, and UBS uMINT Team Up to Enhance Institutional Collateral Solutions
In a significant stride towards bridging the gap between traditional finance and the burgeoning digital asset economy, Bybit, the world's second-largest cryptocurrency exchange by trading volume, has announced a strategic collaboration with DigiFT and UBS. This partnership focuses on enhancing collateral solutions available for institutional investors by integrating UBS's Money Market Investment Fund Token (UBS uMINT) into Bybit's trading platform.
The UBS uMINT, launched as a tokenized investment product backed by UBS Asset Management, operates on the Ethereum public blockchain. This initiative allows participants to tap into a new realm of financial products, providing a secure and efficient means to collateralize their holdings in a regulatory-compliant manner. The UBS uMINT token is scheduled for external investor access starting November 2024 and is distributed exclusively through authorized partners, with DigiFT being the largest distributor based on volume of the tokenized money market fund.
Ben Zhou, co-founder and CEO of Bybit, emphasized the innovative nature of this collaboration. "DigiFT is a pioneer in the regulated distribution of real assets on-chain," he stated. "By aligning our strengths, we are enabling traditional institutions to derive greater value from their tokenized money market funds. Investors can now utilize their holdings as a safe and profitable form of collateral for their trading activities. This partnership marks a crucial evolution towards integrating Web2 finance with Web3 innovation."
Yoyee Wang, Head of Bybit's B2B Business Unit, further articulated the aims of their B2B operations. She mentioned the commitment to driving key lending, custody, and strategic partnership initiatives to facilitate the seamless integration of digital assets into institutional operations, ensuring safety and fluidity. Bybit's collaboration with DigiFT empowers institutional clients to engage with a quality regulated product while benefiting from Bybit's solid settlement infrastructure and liquidity offerings.
The founder and Group CEO of DigiFT, Henry Zhang, echoed the sentiment of cross-industry collaboration by highlighting DigiFT’s vision to make quality investment products accessible on-chain without compromising compliance. He reflected on how this partnership illustrates the potential for regulatory frameworks for real assets to enhance capital efficiency and transparency in future financial markets.
With this collaboration, Bybit expands its portfolio of B2B and institutional services, supporting its goal of bridging traditional financial institutions with the digital asset space. By facilitating investment in regulated tokenized products like the UBS uMINT, Bybit continues to set new benchmarks for trust, transparency, and innovation in the integration of crypto finance with traditional finance.
About Bybit
Founded in 2018, Bybit has established itself as a foremost player in the cryptocurrency exchange landscape, serving a global user community exceeding 70 million. The platform is committed to redefining access within a decentralized world, aiming to create an ecosystem that prioritizes simplicity, openness, and equality. By emphasizing developments in Web3, Bybit strategically collaborates with leading blockchain protocols to offer robust infrastructure and stimulate on-chain innovation. With recognized secure custody, diverse marketplaces, intuitive user experience, and advanced tools on blockchain, Bybit aims to connect traditional finance with decentralized finance, empowering creators and enthusiasts to unlock the full potential of Web3. Explore the future of decentralized finance at Bybit.com.
The UBS uMINT, launched as a tokenized investment product backed by UBS Asset Management, operates on the Ethereum public blockchain. This initiative allows participants to tap into a new realm of financial products, providing a secure and efficient means to collateralize their holdings in a regulatory-compliant manner. The UBS uMINT token is scheduled for external investor access starting November 2024 and is distributed exclusively through authorized partners, with DigiFT being the largest distributor based on volume of the tokenized money market fund.
Ben Zhou, co-founder and CEO of Bybit, emphasized the innovative nature of this collaboration. "DigiFT is a pioneer in the regulated distribution of real assets on-chain," he stated. "By aligning our strengths, we are enabling traditional institutions to derive greater value from their tokenized money market funds. Investors can now utilize their holdings as a safe and profitable form of collateral for their trading activities. This partnership marks a crucial evolution towards integrating Web2 finance with Web3 innovation."
Yoyee Wang, Head of Bybit's B2B Business Unit, further articulated the aims of their B2B operations. She mentioned the commitment to driving key lending, custody, and strategic partnership initiatives to facilitate the seamless integration of digital assets into institutional operations, ensuring safety and fluidity. Bybit's collaboration with DigiFT empowers institutional clients to engage with a quality regulated product while benefiting from Bybit's solid settlement infrastructure and liquidity offerings.
The founder and Group CEO of DigiFT, Henry Zhang, echoed the sentiment of cross-industry collaboration by highlighting DigiFT’s vision to make quality investment products accessible on-chain without compromising compliance. He reflected on how this partnership illustrates the potential for regulatory frameworks for real assets to enhance capital efficiency and transparency in future financial markets.
With this collaboration, Bybit expands its portfolio of B2B and institutional services, supporting its goal of bridging traditional financial institutions with the digital asset space. By facilitating investment in regulated tokenized products like the UBS uMINT, Bybit continues to set new benchmarks for trust, transparency, and innovation in the integration of crypto finance with traditional finance.
About Bybit
Founded in 2018, Bybit has established itself as a foremost player in the cryptocurrency exchange landscape, serving a global user community exceeding 70 million. The platform is committed to redefining access within a decentralized world, aiming to create an ecosystem that prioritizes simplicity, openness, and equality. By emphasizing developments in Web3, Bybit strategically collaborates with leading blockchain protocols to offer robust infrastructure and stimulate on-chain innovation. With recognized secure custody, diverse marketplaces, intuitive user experience, and advanced tools on blockchain, Bybit aims to connect traditional finance with decentralized finance, empowering creators and enthusiasts to unlock the full potential of Web3. Explore the future of decentralized finance at Bybit.com.
Topics Financial Services & Investing）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.