Crypto exchange BingX has launched BXUSD, a yield-bearing product backed by its investment in a U.S. money market fund managed by Franklin Templeton. It is available only on BingX as a yield-bearing certificate. Eligible users can earn yield that accrues daily and use BXUSD as margin for USDT-margined futures trading, subject to the product terms.
The yield rate is variable and updated daily, according to BingX. Users can subscribe with at least 0.1 USDT and no subscription fee; BingX says BXUSD is credited at a ratio of 1 BXUSD to 1 USDT. Margin use requires a transfer to a futures account and Multi-Assets Mode. Fast redemption typically takes about one minute, subject to the relevant terms, the company said.
