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Bybit Adds Stock Trading and Tokenised Equities in TradFi push

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Bybit Adds Stock Trading and Tokenised Equities in TradFi push

The stock trading product, which went live on 12 October, allows eligible users to buy and sell US equities using USDC, with fractional share support and 24-hour, five-day access that covers pre-market, regular and after-hours sessions. The product sits within Bybit’s existing Unified Trading Account, which already supports crypto derivatives and foreign exchange.

The more structurally novel move is mStocks, which Bybit is targeting for a November launch. The product is described as a tokenised stock backed one-to-one by real underlying securities, with planned support for round-the-clock conversion between eligible stocks and mStocks. Converted tokens would also be usable as collateral within the Unified Trading Account and tradeable through automated market maker liquidity pools on the Mantle network.

Bybit also offers IPO Express, launched in June, which gives eligible users access to selected initial public offering opportunities at the offering price through tokenised representations. The company said the service launched with SpaceX as the first available offering, extending its reach from secondary to selected primary markets.

The company says its TradFi perpetuals business has recorded more than 180 billion dollars in cumulative trading volume since it entered CFD markets in 2022, and its catalogue now spans more than 600 instruments across equities, indices, commodities and FX. It has also launched Forex Perps and Perp Options, a derivatives structure it describes as industry-first, built on top of TradFi perpetuals rather than spot prices.

The regulatory backdrop for this model is complex. Tokenised securities fall under securities law in most jurisdictions, and cross-border platforms face fragmented licensing requirements.


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