Bybit Expands Its RWA Earn Product Line, Adds nOPAL Focused on Brazilian Credit Card Receivable Yields
50 minutes ago
Bybit’s institutional-grade real-world asset (RWA) yield platform RWA Earn (branded as Bybit RWA Wealth Management) has added a new nOPAL product, further expanding its institutional business and product portfolio. nOPAL is built on Brazilian credit card receivables, managed by BlackOpal Finance and deployed on open finance platform Plume. Its yield stems from the spread generated when Brazilian merchants sell future credit card receivables at a discount; after acquiring institutions settle via Visa and Mastercard networks, the discounted portion is converted into investor returns. The product hedges Brazilian real (BRL) vs. U.S. dollar (USD) exchange rate volatility using institutional-grade non-deliverable forward (NDF) contracts, with yields paid in USD, and maintains a dedicated liquidity reserve to support redemptions. As of August 2026, nOPAL’s 30-day rolling yield stands at approximately 12%, with total value locked (TVL) exceeding $70 million. Since November 2025, the strategy has recorded zero defaults and zero credit losses. The product has obtained an investment-grade risk rating from Cicada Partners and secured over $300 million in institutional committed capital. nOPAL subscriptions and redemptions on Bybit RWA Earn are priced in USDC, with a minimum investment of 500 USDC and no subscription or redemption fees. To celebrate the product’s launch, eligible users will receive an additional promotional annualized rate of up to 5% on top of the underlying product’s returns.
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