On December 12, Dubai-based crypto exchange Bybit announced BYUSDT, a proprietary token that represents USDT balances in its Flexible Easy Earn product for 1:1 margin trading. The token is available to VIP users, who can switch between BYUSDT and Flexible Easy Earn without manual swap fees while continuing to accrue hourly yield with daily distributions. The product aims to boost capital efficiency for Tether holders and complements Bybit's broader stablecoin strategy centered on USDT and USDC.