Plume partnered with Bybit to launch institutional fixed-income vaults, letting Bybit users put idle stablecoins into onchain products backed by PIMCO and CMBI.

The vaults hold mortgage-backed securities, high-yield corporate bonds and Asia-Pacific investment-grade debt — yield from real-world credit, not crypto markets.

It is a clean RWA distribution play: TradFi fixed income packaged onchain and dropped straight into an exchange's user base.