Bybit Launches RLUSD Hold & Earn with Zero Maker Fees, Pushing Stablecoin Yield Competition
Bybit is trying to turn a single stablecoin into a liquidity magnet. The exchange, the worlds second-largest by trading volume, launched a limited-time $RLUSD Hold & Earn program that combines boosted annual percentage rates with zero maker fees on spot trading pairs that include the Ripple-issued stablecoin, the announcement confirmed. The move targets users who want yield on idle stablecoin balances without moving funds to DeFi protocols. $RLUSD is Ripples dollar-pegged stablecoin, which has been steadily integrated into trading infrastructure since its launch. Bybit already lists it, and the new Hold & Earn product lets users lock $RLUSD for a period to earn a boosted yield, while the simultaneous zero maker fee applies to $RLUSD spot pairs—a clear bid to attract market makers and tighten order books. The program is explicitly time-limited, though the duration was not disclosed. Competing for Stablecoin Liquidity Centralized exchanges are in a quiet but fierce race to attract stablecoin deposits. Binance, Coinbase, and Bybit each run yield programs tied to different dollar-pegged tokens. $RLUSD gives Bybit an asset that is still building liquidity, and pairing a deposit incentive with zero maker fees creates a short-term boost that can reshuffle market share. The logic is simple: liquidity draws more