Bybit, the second-largest cryptocurrency exchange in the world by trading volume, has announced the launch of trading tokenized stocks and ETFs on its Spot platform through collaboration with xStocks.
Launch of Tokenized Assets
Bybit has announced the listing of over 60 tokenized stocks and ETFs on its Spot platform. These assets, including companies such as Tesla and Apple, are linked 1-to-1 with their real-world counterparts and can be traded on Ethereum and Solana.
Partnership with Backed
The launch of xStocks was made possible through partnership with Swiss company Backed. Emily Bao's comments from Bybit highlight the company's commitment to integrating traditional and digital finance.
Features and Advantages of xStocks
Trading tokenized stocks and ETFs will provide users with the ability to invest through fractional ownership and flexibility 24/7. The partnership with xStocks also aims to bridge CeFi and DeFi for new investment opportunities.
With the introduction of xStocks on the Bybit platform, users gain access to a new way of investing in assets traditionally tied to Wall Street.
