Bybit listed nOPAL, a tokenized Brazilian credit strategy, on August 27, 2026, for eligible users via its RWA Earn program with a 500 USDC minimum. Managed by BlackOpal Finance on the Plume network, the strategy acquires discounted credit card receivables from Brazilian merchants, with payments settled by Visa and Mastercard. Since November 2025, over 7,000 receivables have been accumulated with no defaults. BlackOpal’s total value locked exceeded $70 million in August 2026, with a 30-day rolling yield around 12%. Currency risks are hedged using non-deliverable forwards. Bybit handles daily redemption requests settled within 1-5 business days.
Bybit expanded its real-world asset offering by listing nOPAL, a tokenized Brazilian credit strategy, for eligible users. The product uses USDC on RWA Earn and carries a 500 USDC minimum investment.
According to a report, the strategy is managed using a Plume network vault by BlackOpal Finance. The offering is secured by credit card receivables in Brazil, where merchants receive advance funding of future payments at a discount.
BlackOpal acquires the receivables at prices lower than the expected settlement price. Visa and Mastercard handle the payments, and the difference between acquisition costs and settlement prices generates profits.
This approach has accumulated more than 7,000 receivables since November 2025, as stated by the manager. It had no default and credit losses. BlackOpal had more than $70 million in total value locked in August 2026, with a 30-day rolling yield around 12%. Past performance is not a guarantee of future results.
Brazilian real pricing exposes the investment to foreign-exchange risks for dollar-based investors. nOPAL mitigates BRL/USD exchange rate risks via non-deliverable forwards. The platform holds USDC, nTBILL, and cash to support withdrawals. Bybit handles redemption requests daily, with settlement taking 1-5 business days.
Eligible users must commit at least 500 USDC. Bybit warns that RWA Earn products do not safeguard investors’ principal and that past annual percentage rates do not guarantee future performance.
The listing expands Bybit’s portfolio beyond spot and derivatives trading. Users can now trade a tokenized strategy based on Brazilian receivables rather than cryptocurrencies, available only to eligible users.
This move comes amid Bybit’s growing digital-asset offerings and stablecoin services. In June, CEO Ben Zhou had a meeting with Vietnam’s Deputy Prime Minister about the country’s pilot scheme for digital assets, compliance standards, and market supervision.
Bybit also introduced USDPT, a US dollar-denominated stablecoin issued by Anchorage Digital Bank on Solana. USDPT and nOPAL have no direct correlation, but both reflect a trend toward stablecoins and tokenized financial instruments on the platform.
The reported yield and total value locked represent a current snapshot of activity. They do not remove risks related to merchant payments, currency changes, and withdrawal liquidity. Investors should examine the underlying receivables, currency hedge, and redemption terms before committing capital.
