2026.08.08
The StarRoute USD Instant Digital Liquidity Token (Finloop USD Instant Digital Liquidity, ‘FUIDL’) was recently launched on Bybit, the world's second-largest cryptocurrency exchange by trading volume. JunHe served as the legal advisor and assisted in structuring the product and completing the issuance, and StarRoute Fintech Holdings Limited (StarRoute Technology) provided tokenization technology solutions and agency services.
The underlying assets of FUIDL are anchored to USD liquidity funds that have received the highest international money market fund ratings. It provides institutional and professional investors with a channel to allocate high-quality USD liquidity assets on-chain. FUIDL supports hourly subscriptions and redemptions with T+0 (same day) interest accrual and has been launched on multiple international digital asset and digital wealth management platforms.
Bybit is headquartered in Dubai and is one of the world's leading digital asset trading platforms. It offers digital asset trading, custody and financial services to global users. ByCustody provides digital asset custody and management solutions for institutional clients.
After FUIDL's listing on Bybit, eligible Bybit users can now use their FUIDL holdings as collateral for platform trading, subject to compliance with the applicable rules. Compared to merely subscribing to and holding tokenized products as standalone investment products, this collateral arrangement further connects the yield attributes and asset support of traditional financial assets with the collateral management, trading and settlement infrastructure of digital asset trading platforms. This enhances the usability and capital efficiency of tokenized real-world asset (RWA) products in the digital financial system. The integration of FUIDL with Bybit further streamlines the business chain from underlying asset allocation, product issuance, tokenization technology support and multi-platform distribution to collateral application and trade settlement. It marks the extension of FUIDL's application from compliant issuance and multi-platform distribution to digital asset trading and liquidity management, and is another demonstration of the Asian RWA ecosystem moving from ‘asset on-chain’ to ‘on-chain usage’. This project achieves the further integration of RWA technology support, asset issuance, cross-platform distribution, collateral application and trade settlement, making it one of the earlier projects in Asia to realize a full-process RWA closed-loop.
JunHe was the legal advisor for FUIDL and assisted StarRoute Technology in structuring and implementing the FUIDL product. JunHe’s team provided legal services for FUIDL's issuance, subscription, redemption, tokenization arrangements, cross-platform distribution and other compliance matters. The successful listing of FUIDL on Bybit demonstrates that the product structure and legal documentation system built with JunHe's assistance has been accepted by leading international digital asset trading platforms and has achieved cross-platform implementation.
WANG, Weiwei was the lead partner for this project. WANG, Weiwei and Lee, Alex Jao JANG were the handling partners.
Statement:
JunHe was entrusted by StarRoute Technology to provide specialized legal services for the RWA and related fintech business involved in this project. This cooperation strictly adhered to the current laws and regulations of the Hong Kong Special Administrative Region, aiming to build a compliant and robust legal foundation for StarRoute Technology's innovative business model. StarRoute Technology's services are not applicable to residents of mainland China and users restricted by specific jurisdictions.
Bybit and ByCustody have not obtained licenses, approvals or regulation approval from the Hong Kong Securities and Futures Commission and do not provide services to Hong Kong residents.
