UBS uMINT starts live use as Bybit trading collateral

Crypto investors tracking real-world assets now have a live example of tokenized funds being used inside exchange margin systems, not just issued on-chain. Calais Digital Assets has started using UBS uMINT as off-exchange settlement collateral for trading on Bybit through a setup involving ByCustody and DigiFT.

In this structure, the uMINT position stays in custody at ByCustody, while Bybit recognizes it as collateral. DigiFT handles regulated access and distribution for the fund token. That means Calais can keep exposure to a money-market product and still use that position to support trading activity, instead of leaving cash or cash equivalents sitting idle as margin.

The setup builds on earlier work. UBS launched uMINT in November 2024 as its first tokenized investment fund, using Ethereum as the native ERC-20 network. In October 2025, Bybit, DigiFT, and UBS uMINT had already introduced institutional access for using the fund as collateral.

The product is still small. As of June 21, uMINT had about $18.7 million in assets, 176,116 tokens, and 29 holders. Public details also leave open several points that matter in stress conditions, including collateral haircuts, valuation methods, redemption timing, liquidation rules, and legal control across the multi-party structure.