Bybit Adds Six Major Companies' Tokenized Shares as Lending Collateral
Dubai-based crypto exchange Bybit has expanded its Unified Trading Account and lending products to include tokenized shares of six major companies. Users can now use tokenized stocks of Nvidia (NVDAX), Apple (AAPLX), Tesla (TSLAX), Alphabet (GOOGLX) and Robinhood (HOODX) as collateral for margin trading and borrowing.
The feature is available to eligible retail and institutional users, subject to Bybit's lending terms and product availability. This move follows the exchange's introduction of xStocks in June through a partnership with tokenization platform Backed.
Other exchanges have also begun accepting tokenized equities as collateral, including Kraken and Bitget. The total distributed value of tokenized equities has risen sharply over the past year, from $361 million to about $1.72 billion today.