Bybit partners with xStocks to launch tokenized stock trading services, allowing users to directly trade ten tokenized U.S. stocks.

PANews June 30 news, according to the official announcement, Bybit today announced a strategic partnership with Backed to successively launch xStocks tokenized US stocks and ETF products on its Spot platform. The first assets COINX and NVDAX will debut on Bybit Spot today at 2 PM UTC. This move marks an important step for Bybit in connecting TradFi and digital finance, allowing users to enjoy 24/7 trading, fractional investment, on-chain liquidity, and an investment experience that transcends the time constraints of traditional markets, further achieving a seamless connection between TradFi and Decentralized Finance. xStocks is launched by Backed, a Swiss financial instrument issuer. In this collaboration, Bybit will introduce its ten flagship U.S. stock tokenized assets, including top stocks AAPLX, GOOGLX, AMZNX, NVDAX, TSLAX, METAX, MCDX, CRCLX, HOODX, and COINX. These tokenized assets are supported by Ethereum (ERC-20) and Solana (SPL) standards, all pegged at a 1:1 ratio with actual stocks. This launch is the result of a collaboration between Bybit and the Swiss company Backed, integrating Bybit’s TradFi product line, allowing Bybit users to trade gold, forex, stock CFDs, indices, and commodities on the same platform, achieving a seamless connection between traditional finance and Decentralized Finance.