Bybit and Backed partner to launch xStocks on Spot platform

In a strategic move to unify traditional finance with the evolving digital asset landscape, cryptocurrency exchange Bybit has partnered with Backed, a Swiss-based issuer of tokenized financial instruments, to bring tokenized U.S. equities and ETFs to its Spot platform. This joint initiative introduces a new product, xStocks, which consists of tokenized representations of over 60 U.S.-listed stocks and exchange-traded funds, including major names such as SPY, Apple, Tesla, and NVIDIA.

Originally launched by Backed in May 2025, xStocks are designed to mirror their underlying assets precisely. These tokenized instruments are backed one-to-one and can now be traded directly on Bybit’s exchange platform. The development marks a significant step forward for both firms in offering seamless access to real-world financial assets through blockchain technology.

Key features: fractional ownership and 24/7 trading

Bybit users can now benefit from several advantages tied to the listing of xStocks. Among the most notable is the ability to trade tokenized equities and ETFs with on-chain liquidity, a feature that enhances connectivity between centralized finance (CeFi) and decentralized finance (DeFi). Unlike traditional stock markets, which operate during limited hours, xStocks offer round-the-clock trading, empowering users with greater freedom and flexibility.

Another critical feature is fractional ownership, which allows individuals to purchase smaller portions of high-value assets. This significantly lowers entry barriers for retail investors and facilitates broader portfolio diversification. Through xStocks, traders can access real-world equities without relying on legacy brokerages or being constrained by traditional market infrastructure.

The assets are issued as tokens compatible with both Ethereum (ERC-20) and Solana (SPL), ensuring cross-platform accessibility and ease of integration into decentralized wallets or other blockchain-based applications.

Strengthening Bybit’s TradFi ambitions

The listing of xStocks aligns closely with Bybit’s broader strategic efforts to become a one-stop trading platform for both digital and traditional financial instruments. This expansion follows the earlier launch of Bybit TradFi, an integrated platform that enables users to trade commodities, indices, foreign exchange, stocks, and contracts for difference (CFDs) within the same ecosystem.

Bybit has emphasized that the inclusion of tokenized assets like xStocks empowers users with expanded tools for managing both short-term trades and long-term investment strategies. The exchange aims to provide a versatile environment for traders interested in exploring global macroeconomic trends or enhancing their portfolios with exposure to tokenized real-world assets.

Bybit positions itself at the intersection of finance and blockchain

With the integration of xStocks, Bybit has taken a decisive step toward bridging traditional capital markets and blockchain innovation. The company views this move as part of its larger mission to redefine access to global financial instruments. By merging the liquidity and stability of legacy assets with the transparency and efficiency of blockchain infrastructure, the firm aims to offer an investment experience that caters to the modern trader.

Through this collaboration with Backed, Bybit is not only expanding its product offerings but also reinforcing its position as a hybrid financial platform capable of supporting diverse asset classes. The partnership highlights the growing convergence between traditional and decentralized financial systems, suggesting that tokenized equities could play a pivotal role in the next generation of global investing.