Catenaa, Sunday, September 27, 2026- Bybit has launched the third phase of its RLUSD Hold & Earn program, offering daily RLUSD and XRP rewards alongside zero maker and taker fees on the RLUSD-USDT spot pair.
The campaign began September 19 and is scheduled to run through October 18.
Eligible users can earn rewards simply by holding Ripple USD, or RLUSD, in their Bybit accounts without staking, subscribing to a product or locking their tokens.
Bybit is offering a base promotional annual percentage rate of up to 3.5% on eligible RLUSD balances.
Participants can also receive XRP rewards drawn from a pool of 800,000 XRP supplied as part of the Ripple-backed promotion.
The XRP component increases according to how long a user continuously holds RLUSD.
Balances held for fewer than 30 days receive a 1x multiplier. That rises to 1.2x after 30 days, 1.5x after 60 days and 2x after at least 90 days.
The multiplier applies only to the XRP bonus portion rather than the RLUSD base reward.
If a user’s RLUSD balance falls to zero, Bybit resets the continuous holding period.
The exchange takes 24 balance snapshots each day and calculates rewards using the lowest hourly RLUSD balance recorded during that period.
RLUSD and XRP rewards are distributed daily to users’ funding wallets, according to Bybit.
Participants must complete the exchange’s Level 1 identity verification and maintain at least 1 RLUSD to qualify.
Eligible balances are capped at 5 million RLUSD for each main account and subaccount.
RLUSD held in some savings products, borrowed through crypto or unified trading account loans, obtained through spot margin or held in certain copy-trading accounts does not qualify.
Bybit said the daily APR can change depending on the remaining reward budget and total eligible RLUSD holdings across the platform.
The company also stresses that RLUSD rewards under the program are commercial incentives funded through Ripple service fees.
They are not interest, yield or investment returns generated by RLUSD itself.
Phase 3 also expands a fee promotion introduced during the previous campaign.
Bybit waived maker fees on RLUSD-USDT trading during Phase 2 while takers paid 0.04%.
Under Phase 3, both maker and taker fees have been reduced to zero for eligible users.
The change lowers the direct trading cost for users moving between RLUSD and Tether’s USDT, the two dollar-linked stablecoins in the pair.
Bybit said actual fees may differ depending on the user’s region.
The exchange can also change or discontinue the zero-fee promotion before the broader campaign ends.
RLUSD was launched by Ripple as a dollar-backed stablecoin designed to maintain a one-to-one value with the US dollar.
It is issued through a limited-purpose trust chartered by the New York State Department of Financial Services.
Ripple says each RLUSD is supported by reserves held in segregated accounts.
Those reserves can include short-term US Treasury bills, government money-market funds, overnight reverse repurchase agreements backed by US government securities and bank deposits.
Ripple publishes monthly third-party attestations covering the circulating supply and reserve assets.
Its transparency data showed about $2.40 billion of RLUSD in circulation against roughly $2.52 billion in reserve funds as of September 3.
RLUSD operates on the XRP Ledger, Ethereum and other supported networks.
Its growing availability has placed it in competition with larger dollar stablecoins such as USDT and USDC for trading, payments and institutional settlement activity.
Bybit’s promotion attempts to encourage users to keep RLUSD balances on the exchange while also increasing activity in the RLUSD-USDT trading market.
The dual-token structure adds XRP to that strategy.
XRP is the native asset of the XRP Ledger and is used for transaction fees and value transfer across the network.
Unlike RLUSD, XRP does not seek to maintain a fixed dollar value and can move sharply with cryptocurrency market conditions.
That means the eventual dollar value of XRP rewards can rise or fall after distribution.
The campaign is limited to users eligible for Bybit Earn services on the exchange’s Global and Kazakhstan platforms.
Customers in restricted jurisdictions and users of Islamic accounts are excluded under the published terms.
Bybit can also modify, suspend or terminate the campaign.
The third phase reflects increasing competition among exchanges to attract stablecoin liquidity through rewards and reduced trading costs rather than relying solely on traditional staking products.
Stablecoins have become central to cryptocurrency trading because they allow users to move between digital assets while retaining dollar-linked value without returning immediately to conventional banking rails.
For Ripple, wider exchange support can increase RLUSD liquidity and its usefulness as a trading and settlement asset.
For Bybit, the combination of RLUSD rewards, XRP bonuses and zero-fee trading gives users several incentives to keep the stablecoin active within its ecosystem.
The promotion does not remove the risks associated with keeping digital assets on a centralized exchange or holding XRP rewards whose market price can fluctuate.
It does, however, make Phase 3 more aggressive than its predecessor by removing taker fees and increasing rewards for longer continuous RLUSD holdings.
