Bybit has taken another important step in connecting traditional finance and DeFi with the launch of tokenized stocks and U.S. ETFs on the spot trading platform. Through the strategic partnership with Backed, Bybit introduces xStocks – tokens representing actual stocks, allowing users to experience 24/7 trading, invest in fractions, and utilize on-chain liquidity beyond the time constraints of the traditional market. This is a groundbreaking advancement, opening up opportunities to access the U.S. stock market in cryptocurrency form while enhancing flexibility and transparency for investors on the Bybit platform.
Details about the strategic partnership between Bybit and Backed
Bybit has just announced a strategic partnership with the Swiss financial product issuer Backed to launch tokenized stocks and U.S. ETFs on the spot trading platform. This partnership brings token assets like COINX and NVDAX to Bybit at 21:00 GMT+7, marking an important milestone in the integration between traditional finance and DeFi.
In particular, these xStocks tokens are issued based on the ERC-20 standard of Ethereum and SPL of Solana, ensuring compatibility and flexibility in trading across multiple cryptocurrency ecosystems. Each token is linked to an actual stock at a 1:1 ratio, allowing users to access U.S. stocks more easily and transparently.
Key features of tokenized stocks and ETFs on Bybit
Tokenized stocks help eliminate traditional barriers such as restricted opening hours or high minimum investment amounts, allowing trading anytime, anywhere on the Bybit platform. Users can buy and sell in fractions of stocks, making it convenient for individual investors with limited capital to access the U.S. market.
Furthermore, the integration of on-chain liquidity provides greater transparency and security in trading, minimizes risks, and enhances trading efficiency on the platform. This is an important step that makes DeFi more practical for ordinary users.
Notable tokenized stock categories released on Bybit
Through collaboration with Backed, Bybit will launch 10 tokens representing leading stocks in the U.S. market, including: AAPLX (Apple), GOOGLX (Alphabet), AMZNX (Amazon), NVDAX (NVIDIA), TSLAX (Tesla), METAX (MetLife), MCDX (McDonald’s), CRCLX (Circle), HOODX (Robinhood), and COINX (Coinbase).
These tokens are designed to provide an optimal trading experience with a guaranteed 1:1 ratio with actual stocks, helping investors easily diversify their portfolios on the same platform without needing direct exposure to the traditional stock market.
Technological direction and user experience on Bybit
The integration of tokenized stocks and ETFs with Bybit's trading ecosystem creates a comprehensive experience for users. In addition to traditional financial products like gold, forex, index CFDs, and commodities, Bybit also expands investment opportunities with digitized assets, providing flexibility and diversity in portfolio management.
As a result, the platform supports a seamless connection between traditional finance (TradFi) and DeFi (DeFi), allowing investors to take advantage of the transparency and security of Blockchain while enjoying convenience and quick liquidity.
The significance of issuing tokenized stocks in the Vietnamese cryptocurrency market
In Vietnam, accessing tokenized stock products opens up new opportunities for cryptocurrency investors looking to diversify their portfolios. This solution helps eliminate barriers related to trading hours and investment capital thanks to the ability to trade 24/7 and buy in fractions.
At the same time, this development reinforces transparency, safety, and speed in asset trading, while promoting deeper integration between the traditional financial market and cryptocurrency, helping Vietnam's digital economy grow stronger.
Source: https://tintucbitcoin.com/bybit-va-xstocks-ra-mat-token-co-phieu/
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