Bybit Offers Tokenized PIMCO Bonds via Regulated Institutional Vault

Bybit secured a full Virtual Asset Platform Operator license from the UAE's Securities and Commodities Authority in October 2025. It also achieved MiCA compliance across the European Economic Area, allowing it to offer the vault to EU-based institutions.

The vault builds on Bybit's Mantle Vault, which launched in December 2025 and crossed $150 million in assets under management within its first few months. The new fixed income vault operates under the same regulatory framework and custody setup.

The convenience of single-platform access comes with concentration risk. An institution holding both trading positions and yield products on one exchange has more exposure to that counterparty than if the positions were distributed across separate brokers and custodians. Several asset managers have flagged this concern in recent discussions about exchange-hosted yield products, though Bybit has not reported any defaults or liquidity issues on the vaults to date.

Bybit has been working with tokenization platform Plume to expand the range of institutional fixed income vaults. The exchange did not disclose a target AUM for the new PIMCO-CMB vault or a timeline for adding more funds.