Key facts
- Bybit now accepts tokenized Nvidia, Apple, Tesla, Alphabet, Robinhood, and Circle shares as collateral.
- Eligible retail and institutional users can utilize these tokenized stocks for margin trading and crypto loans.
- The tokenized assets are backed 1:1 by the underlying securities held by a regulated custodian.
- The tokenized equities market has seen substantial growth, reaching approximately $1.72 billion.
- Competitors Kraken and Bitget also offer similar functionalities for tokenized stocks.
Dubai-based cryptocurrency exchange Bybit has expanded its offerings by enabling six tokenized stocks, including those of Nvidia, Apple, and Tesla, to be used as collateral for its trading and lending products. Eligible retail and institutional users can now leverage these blockchain-based equities for margin trading and borrowing through Bybit’s Unified Trading Account, Crypto Loans, and Institutional Loans.
The tokenized shares represent Nvidia (NVDAX), Robinhood (HOODX), Circle (CRCLX), Tesla (TSLAX), Alphabet (GOOGLX), and Apple (AAPLX). These assets are backed 1:1 by the underlying securities, which are held by a regulated custodian. Bybit initially introduced tokenized stocks in June through a partnership with tokenization platform Backed.
This move by Bybit follows similar initiatives from other exchanges. Kraken began accepting select tokenized stocks and ETFs as collateral for futures and margin trading, and Bitget also supports tokenized stocks for futures margin and crypto loans. The market for tokenized equities has seen significant expansion, with its total distributed value rising to approximately $1.72 billion, up from around $361 million a year prior.