Bybit Empowers Users with Tokenized Stocks for Lending and Trading
Bybit has taken another step in making its platform more versatile for users. The Dubai-based crypto exchange now allows eligible retail and institutional users to use tokenized shares of Nvidia, Apple, Tesla, and three other US companies as collateral for margin trading and lending products.
This update enables the use of six tokenized stocks, Nvidia (NVDAX), Robinhood (HOODX), Circle (CRCLX), Tesla (TSLAX), Alphabet (GOOGLX), and Apple (AAPLX), as collateral through Bybit's Unified Trading Account, Crypto Loans, and Institutional Loans.
The addition of these tokenized stocks expands the financial utility of blockchain-based equities. Bybit first introduced xStocks in June through a partnership with Backed, listing over 60 tokenized US stocks and exchange-traded funds on its spot market.