Wall Street · Tokenization · CryptoSlate
Wall Street’s UBS uMINT yield-bearing collateral has reached Bybit, but there’s a catch
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A UBS tokenized money-market fund is now being used as live collateral on Bybit, turning one of Wall Street’s RWA products into working exchange margin.
Key facts
- On June 21, the total asset value was around $18.7 million, 176,116 tokens, and 29 holders
- In November 2024, uMINT launched as UBS's first tokenized investment fund
- A UBS tokenized money-market fund is now being used as live collateral on Bybit, turning one of Wall Street’s RWA products into working exchange margin
- The June 18 deployment is important because collateral that would typically sit as idle cash or cash equivalent can still earn money-market yield while supporting trading activity
Summary
01 Calais Digital Assets is using UBS uMINT as live collateral on Bybit through DigiFT and ByCustody. 02 The setup lets the fund keep money-market yield while supporting trading, turning tokenized cash management into working margin. 03 But key terms like haircuts, valuation, redemption timing, and liquidation rights remain undisclosed, limiting broader adoption. The setup runs across Bybit, ByCustody, and DigiFT, with the uMINT position remaining in custody while it is recognized as exchange collateral.