首家量化基金将UBS uMINT用作OES交易抵押品，ByCustody助力机构级代币化资产实际应用

Odaily Planet Daily News: Calais Digital Assets has become the first institutional client to deploy the UBS USD Money Market Fund (uMINT) as over-the-counter settlement (OES) collateral in a trading scenario. This transaction was completed through the integrated infrastructure of Bybit, ByCustody, and DigiFT, marking a significant breakthrough in the practical application of institutional-grade tokenized assets.

In this structure, DigiFT acts as the authorized distributor of uMINT, providing a regulatory access layer; ByCustody offers institutional-grade custody under Bybit's licensed operational framework, ensuring asset security and compliance with trading collateral eligibility; Bybit exchange accepts the custodied uMINT as clearing collateral. This design separates custody from deployment, allowing assets to be used for trading without leaving regulatory custody.

Traditional OES collateral requires counterparties to deposit idle cash, leaving that capital undeployed and non-yielding. By using uMINT based on the Ethereum public chain, Calais continuously earns returns on its collateral during trading activities. This model significantly enhances capital efficiency at a structural level, without compromising the security and liquidity required for institutional trading.

This transaction is based on the 2025 cooperation framework between Bybit and DigiFT, which established the technical and regulatory foundation for using uMINT as trading collateral. Calais's deployment validates that the efficiency gains of tokenized assets have moved from theory to institutional-grade application practice.