How to get started with crypto using XUSD: Deposit, trade and earn on Bybit
Most people who want to enter crypto face the same barriers: unclear onboarding steps, foreign exchange spreads that eat into deposits and the need to navigate multiple accounts before placing a single trade. XUSD removes all three of these friction points. Issued by StraitsX, a regulated financial institution, XUSD is a 1:1 USD-backed stablecoin built to serve as a direct gateway into crypto on Bybit. One bank wire moves your USD into a stable, fiat-backed asset that’s immediately usable across Bybit’s trading and earning products.Â
This article explains three things you can do with XUSD on Bybit: deposit USD and receive XUSD, use XUSD to trade crypto and put it to work earning passive yield — all on Bybit.
Key Takeaways:
XUSD is a 1:1 USD-backed stablecoin issued by StraitsX, a licensed financial institution based in Singapore.
You can deposit USD via SWIFT and receive XUSD directly in your Bybit account at a 1:1 rate, with no foreign exchange spread.
XUSD can be used to trade crypto directly or to earn passive yield via Bybit Earn, making it a single entry point for the full crypto experience.
What is XUSD?
XUSD is a stablecoin issued by StraitsX, a Major Payment Institution (MPI) based in Singapore that’s licensed to provide digital payment token services. XUSD’s value is pegged 1:1 to the US dollar. USD deposits are converted to XUSD at a 1:1 rate, with no foreign exchange conversion spread applied to the USD-to-XUSD conversion itself. Standard bank or SWIFT transfer fees may still apply.
Within the Bybit platform, XUSD functions as your on-chain equivalent of USD. It’s stable, familiar and immediately usable for trading or earning without any intermediate conversion step. This is a meaningful practical difference from the typical crypto onboarding experience in which new users must first acquire a stablecoin such as USDT or USDC before they can access trading pairs.
The XUSD stablecoin is directly backed by USD reserves, rather than by algorithmic mechanisms or partial collateral. XUSD is 100% fiat-backed and is held with global banking partners, including Standard Chartered and DBS. This gives it a fundamentally different risk profile from non–fiat-backed alternatives. Its issuance through StraitsX, a regulated financial institution, also separates it from many stablecoins that operate outside of formal oversight structures.
Step 1: Deposit USD via SWIFT and receive XUSD
Bybit has partnered with StraitsX to enable USD deposits via SWIFT, the global interbank payment network used for international wire transfers. When your USD wire arrives, it’s automatically converted to XUSD at a rate of 1:1 and credited to your Bybit account. No decentralized exchange (DEX) is involved, and no separate stablecoin purchase is required. The process is a standard bank wire transfer.
This makes XUSD one of the most accessible entry points into crypto for users coming from traditional finance. Anyone who has made an international bank transfer can follow the same steps listed below.
What you need before starting
A verified Bybit account with know your customer (KYC) Identity Verification completed.
A bank account with international wire transfer capability.
Access to Bybit's deposit page to retrieve the beneficiary account details.
How to make your first XUSD deposit
Log in to your Bybit account and navigate to Assets ➟ Deposit.
Select Fiat as the deposit type, then choose USD as the currency.
Select SWIFT (StraitsX) as the deposit method.
Copy the beneficiary account name, bank details and unique payment reference from the on-screen instructions.
Initiate the wire transfer from your bank using the provided details. Include the payment reference exactly as shown.
Once the wire is received by StraitsX, XUSD is credited to your Bybit account at a 1:1 rate.
Processing times follow standard SWIFT timelines. Transfers typically complete within one to two business days, depending upon the sending bank. Once XUSD appears in your account, it’s immediately available for trading or earning.
Step 2: Use XUSD to trade crypto
After your XUSD balance is funded, you can trade directly against crypto assets without any additional conversion step needed. Traditional stablecoin users often need first to purchase USDT or USDC before they can access trading pairs. XUSD entirely eliminates this intermediate step.
Suppose you wire $500 from your bank. That $500 arrives as 500 XUSD in your Bybit account. You can then directly place a buy order for Bitcoin (BTC) using your 500 XUSD balance through the BTC/XUSD trading pair. The dollar value is preserved throughout, and no additional spread is incurred in moving between stablecoins.
XUSD as a liquidity bridge
XUSD is also effective as a neutral holding position between trades. When you close a position, but aren’t ready to reenter the market, holding XUSD preserves your USD value without any exposure to crypto price fluctuation. This is particularly useful during periods of high market volatility, when holding a volatile asset between trades carries meaningful risk.
Available XUSD trading pairs
XUSD trading pairs on Bybit include BTC/XUSD as well as additional pairs. The XUSD ecosystem is continuing to expand on the platform.
To access these pairs, go to the Spot trading page and filter by XUSD in the pair selector. The order entry panel will display your available XUSD balance and allow you to place Limit, Market or other order types directly.
Step 3: Grow your XUSD with Bybit Earn
If you aren’t actively trading, your XUSD can still generate returns. Bybit Earn, Bybit's suite of passive yield products, is designed to put idle assets to work without requiring active market participation. XUSD is one of the supported assets within this program.
What Bybit Easy Earn offers
Bybit Easy Earn provides three product types to match different user preferences:
Flexible Term: Earn yield on your XUSD with the freedom to withdraw at any time. There is no lockup period. This is the lowest-commitment option, and is well suited to users who want to earn while keeping their XUSD accessible.
Fixed Term: Commit your XUSD for a defined period in exchange for a higher, guaranteed return. This product is suitable for users who don’t require immediate access to their funds, and who want predictable earnings.
Fixed Rate Loan: Designed to generate yield through lending activity, this option carries associated lending risk and is better suited to users comfortable with that trade-off.
For users new to Bybit Earn, the Flexible Term product is the natural starting point. It carries no lock-up period, so you can withdraw your XUSD at any time if your plans change. Once you are comfortable with how Earn works, you can move to Fixed Term products to access higher, guaranteed rates in exchange for committing funds for a set duration.
Tiered returns and promotional campaigns
Bybit periodically runs limited-time XUSD Earn campaigns with promotional annual percentage rates (APR). These campaigns often feature tiered reward structures: the more XUSD you commit, the higher the rate that’s applied to your balance. Specific rates and tier thresholds vary by campaign, and are displayed at the time of subscription.
How to participate in Bybit Earn with XUSD
Navigate to Earn → Easy Earn from the Bybit main menu.
Search for XUSD in the product list, or browse under the Stablecoins filter.
Select the product type: Flexible Term or Fixed Term.
Enter the amount of XUSD you wish to subscribe and review the APR, duration, as well as any applicable tier thresholds.
Confirm your subscription. Flexible Term products begin earning immediately, while Fixed Term products begin earning from the start of the subscription period.
Earnings are credited to your account according to the product's stated distribution schedule.
Important note: APR rates for XUSD Earn products are ,and are subject to change. Always review the current terms displayed on the subscription screen before committing any funds.
Why XUSD makes sense for new crypto users
No foreign exchange spread surprises
With XUSD, you know exactly what you have at every step. A $500 wire transfer produces 500 XUSD. A trade closes, and you hold 500 XUSD. There are no hidden conversion margins applied at any stage. For users coming from traditional banking, this kind of price transparency is familiar and expected — and is exactly what XUSD delivers.
Familiar entry method
Bank wire transfers are the way most people move significant sums of money internationally. XUSD turns this familiar banking action into a direct crypto on-ramp. There’s no need to learn a new payment method, load a prepaid card or navigate a peer-to-peer platform. The same process that most users already know becomes their gateway into crypto.
Stable value throughout your crypto journey
Whether you’re between trades, waiting for a specific market condition or simply holding assets while you learn the Bybit platform, XUSD maintains its USD value. Holding XUSD during inactive periods carries no market risk, unlike holding Bitcoin or any other volatile crypto asset between positions.
One asset, three use cases
XUSD is purposely built to cover the full entry cycle on Bybit: deposit (bring USD onto the platform via SWIFT), trade (access crypto markets directly without converting to another stablecoin) and earn (generate passive yield through Bybit Earn while idle). Each step uses the same asset, which keeps the experience simple and consistent.
Transparency and regulatory alignment
XUSD is issued by StraitsX, a licensed financial institution based in Singapore. StraitsX has designed XUSD with a focus on transparency and alignment with evolving stablecoin frameworks globally, including Singapore’s upcoming single-currency stablecoin (SCS) framework. For users who prioritize transparency and regulatory alignment, particularly those coming from traditional finance backgrounds, this structure provides an additional layer of confidence that isn’t present with algorithmically backed or unregulated stablecoins.
The bottom line
XUSD offers one of the most direct paths from traditional banking into crypto on Bybit. A single SWIFT wire transfers your USD into a fiat-backed, dollar-pegged asset that’s immediately usable across the Bybit platform. From there, you can buy crypto directly on Bybit’s Spot market, hold XUSD between positions without losing USD value, or earn passive yield through Bybit Easy Earn — all without the multistep conversion process that most crypto onboarding involves.
For new users, XUSD reduces the number of decisions required to get started. Depositing, trading and earning are three straightforward actions that follow directly from one another. Whether your goal is to build a crypto position, generate income on idle funds or simply move money from your bank into a stable digital form, XUSD gives you a transparent, fiat-backed starting point on Bybit.
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