Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced Phase 2 of its RLUSD Hold & Earn program, extending its partnership with Ripple (XRP) and introducing dual daily rewards in both XRP and RLUSD.
The program’s first phase, launched in July 2026, accumulated over $50 million in assets under custody within 11 days.
RLUSD is a USD-backed stablecoin issued by Ripple, natively issued on XRP Ledger, Ethereum, and other blockchains. It is fully backed by a segregated reserve of cash and cash equivalents and redeemable 1:1 for US dollars.
Phase 2 introduces APR multipliers by volume and holding duration
The second phase retains the same no-subscription, no lock-up structure as Phase 1, with eligible users earning rewards automatically by simply holding RLUSD.
Phase 2 introduces three key additions: dual-token rewards in both RLUSD at a base APR and XRP as a bonus APR paid daily, an XRP base APR multiplier of up to 2x for users who maintain holdings for 30 days or more, and APR scaling based on both holding volume and duration.
XRP rewards are provided through Ripple’s milestone-based incentive program, enabling holders to earn from Ripple ecosystem assets.
The program attracted initial demand from yield-seekers drawn to its low-friction structure, with no staking or lock-up required to participate.
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