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FollowingDubai-based cryptocurrency exchange Bybit now supports six tokenized stocks as collateral for margin trading and lending products, expanding the financial utility of blockchain-based stocks.
This update allows eligible retail and institutional users to use tokenized shares of NVDAX, HOODX, Circle, Tesla, Alphabet, GOOGLX, and Apple, for margin trading and borrowing through Bybit's unified trading account, crypto loans and institutional loans. The use of this feature is subject to Bybit's loan terms and product availability.
Bybit first launched xStocks in June this year through a partnership with tokenization platform Backed, listing more than 60 tokenized U.S. stocks and exchange-traded funds on its spot market. These assets are backed on a 1:1 basis by the underlying securities, which are held by regulated custodians.
Other exchanges have also expanded the use of tokenized stocks as collateral. Kraken agreed to acquire Backed in late 2025 and earlier this month began accepting some tokenized stocks and exchange-traded funds as collateral for futures and margin transactions. Bitget also supports tokenized stocks as collateral, introducing futures margin functionality in June, and subsequently expanding to crypto loans in July.
Data from RWA.xyz shows that the tokenized stock market has expanded significantly in the past year, with the total allocation value increasing from approximately US$361 million at the end of July 2025 to approximately US$1.72 billion today.
Equities onchain. Source:RWA.xyz Magazine: The 100x obsession: Fundamentals grow in importance as crypto matures
