Cryptocurrency exchange Bybit and stablecoin issuer Tether have expanded their strategic partnership with the launch of a joint initiative called "Golden Season." The program is designed to promote the adoption of tokenized gold and offers users over $1 million in rewards backed by physical gold.
The initiative is centered around Tether's gold-backed token, XAUT, which is pegged 1:1 to physical gold stored in Swiss vaults. Bybit plans to deepen the integration of XAUT across its platform, including trading pairs, savings accounts, and structured yield products. The program features trading rewards, referral incentives, and limited-time yield pools linked to XAUT.
"The real test of a platform is not how it performs in bull markets, but how it supports its users when markets fall," stated Helen Liu, Co-CEO of Bybit. She described the collaboration as a way to bring the reliability of gold into the crypto ecosystem, offering users pathways toward stability and sustainable returns, especially during periods of market volatility.
Bybit also announced plans to launch up to $10 million in additional yield products linked to stablecoins and other real-world assets throughout March 2026. The move is seen as a response to growing user demand for portfolio diversification and stable yield-generating products amid economic uncertainty and market jitters, with the crypto Fear & Greed Index recently registering extreme fear levels.
