Bybit RWA Earn Adds nOPAL, Securing Over $300 Million in Institutional Committed Capital

Odaily News: Bybit RWA Earn has newly listed the nOPAL product. nOPAL is built on Brazilian credit card receivables, managed by BlackOpal Finance, and deployed on the open finance platform Plume. Its returns are generated from the price spread when Brazilian merchants sell future credit card receivables at a discount. After acquirers settle through Visa and Mastercard networks, the discounted portion is converted into investor returns. The product uses institutional-grade non-deliverable forward contracts to hedge against fluctuations in the Brazilian Real to US Dollar exchange rate. Returns are distributed in US Dollars, and a dedicated liquidity reserve supports redemptions. As of August 2026, nOPAL's rolling 30-day yield stands at approximately 12%, with total value locked exceeding $70 million. Since November 2025, the strategy has recorded zero defaults and zero credit losses. The product has received an investment-grade risk rating from Cicada Partners and has secured over $300 million in institutional committed capital. nOPAL subscriptions and redemptions are denominated in USDC, with a minimum investment of 500 USDC, and no subscription or redemption fees are charged. During the promotional period for nOPAL's launch, eligible users can earn up to an additional 5% promotional annualized yield on top of the underlying product returns.