Calais Becomes 1st Quantitative Hedge Fund to Deploy UBS uMINT as OES Collateral via Bybit, ByCustody & DigiFT
RWA Signal Insight
Active StrategiesCalais Digital Assets has become the first institutional client to utilize UBS uMINT as off-exchange settlement (OES) collateral for active trading on the Bybit exchange. This deployment, facilitated by ByCustody and DigiFT, allows the Singapore-based quantitative fund to maintain yield on its collateral while it remains locked in regulated custody. Traditionally, OES collateral requires firms to post idle cash that earns no return, creating a significant capital inefficiency. By leveraging the Ethereum-based UBS uMINT tokenized money market fund, Calais effectively bridges the gap between traditional institutional security and decentralized finance efficiency. This milestone demonstrates that tokenized real-world assets can function as live, yield-bearing collateral at an institutional scale without compromising risk management. The integration relies on a technical framework established by Bybit and DigiFT in 2025 to support institutional-grade tokenized assets. Ultimately, this development marks a shift toward more capital-efficient trading operations where assets serve dual purposes as both security and investment.
Key points
- Calais is the first fund to use UBS uMINT as OES collateral on Bybit.
- UBS uMINT is a tokenized money market fund operating on the Ethereum blockchain.
- The OES model allows collateral to earn yield while remaining in ByCustody.
- DigiFT and Bybit provided the regulatory and technical infrastructure for this deployment.
Background
UBS uMINT is a tokenized USD money market investment fund launched by UBS Asset Management, designed to provide institutional investors with on-chain access to high-quality liquid assets. DigiFT acts as an authorized distributor for these tokenized products, bridging traditional financial instruments with blockchain-based infrastructure. ByCustody provides the institutional-grade, MPC-secured environment necessary for these assets to be held and utilized as collateral.