Bybit Integrates UBS’s uMint Fund for Enhanced Trading Adaptability
Bybit, a leading crypto exchange, has teamed up with UBS too allow traders to use the uMint tokenized fund as collateral. This move bridges traditional finance adn the crypto world.
Starting October 13, Bybit users can leverage their uMint holdings for trading. UBS launched uMint, a tokenized money market fund, in November 2024. It’s built on Ethereum and backed by short-term U.S. Treasury debt. this low-risk fund targets accredited and professional investors.
Ben Zhou, Bybit’s Co-Founder and CEO, said, “This partnership lets investors use their uMint holdings as collateral. It’s a secure and cost-effective way to trade, bringing Web2 and Web3 closer.”
The integration is made possible by DigiFT,an asset tokenization platform. DigiFT distributes uMint to investors. Henry Zhang,DigiFT’s Founder and CEO,noted,”This collaboration shows how tokenization can improve capital efficiency and transparency.”
For institutional investors, this partnership reduces capital expenditures. Thay can hold a high-grade money market fund and use it as trading collateral. This integration is part of a growing trend of crypto and traditional finance convergence.
