Bybit Becomes First Exchange to Offer Direct Access to USDtb Minting and Redemption
DUBAI, UAE, June 10, 2025 /PRNewswire/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, has introduced a major upgrade to its On-Chain Earn product, making it the first exchange to offer direct minting and redemption of USDtb without any access restrictions. Users can now access USDtb instantly — no applications, no waiting.
USDtb is a next-generation stablecoin developed by Ethena, designed to maintain a 1:1 value with the U.S. dollar. Rather than being backed by cash reserves, USDtb is collateralized by U.S. Treasury assets — yield-generating government securities. This structure enables USDtb to offer the best of both worlds: the stability of traditional finance combined with the speed and flexibility of crypto. For users, it provides access to a liquid and income-generating asset, all in one.
With this update, users can now mint USDtb directly by depositing USDT, USDC, or USDe through Bybit. The process is fast, simple, and requires no intermediaries. When it's time to redeem, USDtb can be instantly swapped back into those same stablecoins — no delays, no hidden steps.
"Stablecoin yield is entering a new era," said Emily Bao, Head of Spot at Bybit. "Bybit's integration of direct USDtb minting removes longstanding barriers and empowers users with the autonomy and liquidity they expect from the future of on-chain finance."
Before this upgrade, getting USDtb was limited to spot trading or restricted access through Ethena. Now, with Bybit On-Chain Earn, anyone who completes Identity Verification Level 1 and deposits at least 5,000 USDT, USDC, or USDe can start minting USDtb right away — and automatically earn dynamic yields without staking or lock-ups.
There are no gas fees, and the process takes just one transaction.
USDtb minting is now live on Bybit On-Chain Earn. Full terms and details are available on the platform.
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About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
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