Bybit Expands Into Real-World Assets with Backed Finance Partnership for Tokenized

 

A new wave of tokenized equity products is reshaping how investors access global markets, and xStocks is leading the charge. Created by Backed Finance in partnership with Bybit and Mantle, xStocks allows tokenized versions of major U.S. company shares such as Nvidia (NVDA), Apple (AAPL), and MicroStrategy (MSTR) to be traded on-chain in a regulated, transparent, and globally accessible format.

Each xStock token is backed one-to-one by the underlying equity, which is held in custody by regulated third-party custodians. This approach ensures full backing while enabling the shares to move seamlessly within decentralized finance (DeFi) ecosystems.

 

How xStocks Works

For every xStock minted, a real-world share of the corresponding company is held by the issuer in custody. These tokens can then be traded 24/7 on platforms such as Bybit and used within DeFi protocols for lending, borrowing, or liquidity provision.

Bybit supports deposits and withdrawals of xStocks through the Mantle Network, which acts as the blockchain infrastructure layer connecting centralized and decentralized platforms. Mantle’s low fees and high performance make it an ideal environment for on-chain trading of real-world assets.

This structure allows investors to gain global exposure to leading U.S. equities without the limitations of traditional brokerage systems or market hours. Tokenized stocks can also be composed into smart contracts, collateral systems, and decentralized trading strategies, creating new opportunities for both traders and developers.

 

Why Tokenized Stocks Matter

The launch of xStocks marks a major step toward convergence between traditional finance (TradFi) and decentralized finance. By tokenizing shares of publicly traded companies and making them available on-chain, the project introduces a host of benefits:

• Global access: Investors from almost any region can gain exposure to U.S. stocks without relying on traditional brokerages.

• Composability: Tokenized stocks can integrate with DeFi platforms, enabling creative use cases such as yield farming or collateralized lending.

• Continuous trading: Unlike traditional markets, xStocks can trade around the clock, while still tracking underlying asset prices through custodial backing and oracle feeds.

• Fractional ownership: Smaller investors can gain access to high-value stocks through fractionalized token units.

This level of accessibility and flexibility represents a meaningful expansion of the global financial system into blockchain-based environments.

 

Key Partnerships Driving xStocks

• Backed Finance serves as the issuer and compliance manager for xStocks, ensuring that each token is fully backed by a corresponding equity share and held under regulated custody.

• Bybit, one of the world’s top crypto exchanges, provides the liquidity, infrastructure, and user base to make tokenized stock trading seamless.

• Mantle Network delivers the blockchain infrastructure that underpins the system, offering a modular Layer 2 framework with high throughput and low transaction costs.

Together, these partners form a complete pipeline for bringing traditional assets onto the blockchain. Shares are securely held, tokenized, and then made accessible through regulated on-chain channels.

 

Use Cases and Early Listings

The initial lineup for xStocks includes a mix of technology and finance leaders such as Nvidia, Apple, Tesla, Coinbase, and MicroStrategy. Each stock is represented by a corresponding xStock token (for example, NV DAX for Nvidia and MSTRX for MicroStrategy).

Holders can store these tokens in self-custody wallets, trade them directly on Bybit, or integrate them into DeFi applications across the Mantle ecosystem. Over time, more equities and potentially ETFs may be added to expand the offering.

 

Regulatory and Market Considerations

While the concept is groundbreaking, tokenized securities carry some caveats:

• No voting or dividend rights: Token holders typically gain economic exposure but not shareholder privileges like voting or direct dividend collection.

• Jurisdictional restrictions: Residents of certain countries, including the United States, may be restricted from purchasing or holding xStocks until further licensing is obtained.

• Price variance risk: During off-market hours, token prices can deviate from the underlying asset price, creating both arbitrage opportunities and liquidity risks.

• Regulatory evolution: The treatment of tokenized stocks varies across jurisdictions, and projects like xStocks will likely face ongoing regulatory review as adoption grows.

Even with these considerations, the model represents a significant advancement toward a future where on-chain representations of real-world assets can coexist with traditional financial infrastructure.

 

A New Era for Real-World Assets

Tokenization of assets like equities, bonds, and commodities has long been viewed as the next frontier for blockchain adoption. Projects such as xStocks demonstrate that this vision is now moving from concept to implementation.

By combining regulatory compliance, on-chain transparency, and cross-border accessibility, xStocks delivers a clear example of how tokenized finance could evolve. The initiative also highlights the growing appetite for real-world assets (RWAs) among DeFi participants, who are increasingly seeking stable, yield-bearing alternatives to purely speculative tokens.

 

Final Thoughts

The xStocks launch represents more than a new trading product. It is part of a broader transformation of financial infrastructure — one that connects traditional equity markets to the programmable, borderless nature of blockchain.

Bybit, Mantle, and Backed Finance are positioning themselves at the intersection of these two worlds. If xStocks succeeds, it could pave the way for widespread tokenization of major assets, potentially redefining how investors trade, store, and leverage real-world value in the digital age.

 

As more institutions explore on-chain settlement, custodial bridges, and tokenized asset offerings, xStocks may be remembered as one of the early milestones that made Wall Street truly interoperable with Web3.

 

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MicroStrategy Doubles Down: Michael Saylor’s Relentless Bitcoin Accumulation Strategy

MicroStrategy keeps buying Bitcoin as conviction and adoption grow

Michael Saylor and MicroStrategy have once again captured the attention of the financial world by expanding their Bitcoin holdings, reinforcing their position as the largest corporate holder of the world’s leading digital asset.

While social media celebrated another symbolic “orange dot” from Saylor’s post, the message behind it was far more significant — MicroStrategy’s commitment to buying Bitcoin remains unwavering, even amid volatile markets and shifting macroeconomic conditions.

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MicroStrategy’s Ongoing Bitcoin Accumulation

Since its first purchase in August 2020, MicroStrategy has consistently added Bitcoin to its corporate treasury, positioning itself as the model for institutional Bitcoin adoption. Under Saylor’s leadership, the company has built a reserve exceeding 640,000 BTC, valued at roughly $70 billion at current prices.

Each purchase reinforces Saylor’s long-term thesis: Bitcoin is the ultimate treasury reserve asset, superior to cash or gold in a world of currency debasement and inflation.

MicroStrategy has repeatedly used capital markets tools — including convertible notes, equity raises, and debt financing — to fund its purchases. The company’s strategy is clear and transparent: use the strength of its balance sheet to accumulate Bitcoin and hold indefinitely.

“Our strategy is simple,” Saylor has said. “Buy Bitcoin. Hold Bitcoin. Build shareholder value through Bitcoin.”

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Why MicroStrategy Keeps Buying

1. Conviction in Bitcoin as Digital Gold

Saylor believes Bitcoin represents the most sound, scarce, and secure form of money ever created. By converting cash reserves into BTC, MicroStrategy is protecting its balance sheet from inflation while aligning itself with the long-term digital asset megatrend.

2. Institutional Leadership

MicroStrategy’s approach has transformed it from a business intelligence company into a hybrid enterprise and Bitcoin holding company. This bold pivot has made Saylor a respected voice in both corporate finance and the digital asset space.

His conviction has also inspired other institutional players — from family offices to public companies — to consider similar treasury strategies.

3. Strategic Use of Capital Markets

Instead of using operational cash flow alone, MicroStrategy has leveraged the capital markets to expand its Bitcoin holdings. By issuing stock and convertible debt, the company has found innovative ways to buy more BTC without relying solely on earnings.

4. Long-Term Thinking Over Short-Term Fluctuations

MicroStrategy has held firm through multiple Bitcoin market cycles. While short-term traders often react to volatility, Saylor views each price drop as an opportunity to buy more. The firm’s average cost basis remains well below Bitcoin’s current price, reinforcing the strength of its long-term positioning.

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A Blueprint for Corporate Bitcoin Adoption

MicroStrategy’s consistent accumulation has set a precedent for how corporations can strategically integrate Bitcoin into their balance sheets. The approach has three key lessons for other businesses exploring digital assets:

• Transparency: MicroStrategy publicly discloses every purchase, building trust with investors and regulators.

• Strategic Financing: The company uses debt and equity issuance intelligently, preserving operational flexibility while expanding exposure.

• Long-Term Vision: By treating Bitcoin as a core treasury asset rather than a speculative investment, MicroStrategy positions itself for long-term value creation.

This combination of innovation and conviction has made the firm a de facto ambassador for Bitcoin in corporate America.

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The Bigger Picture: Institutional Bitcoin Momentum

MicroStrategy’s continued buying comes amid renewed institutional interest in Bitcoin. Exchange-traded funds (ETFs), payment platforms, and major banks are expanding access to crypto, signaling a maturing market.

While regulatory uncertainty still exists, the overall trend is clear — institutions are moving toward Bitcoin, and MicroStrategy’s approach is helping lead the way.

By maintaining its position through both bullish and bearish conditions, the company has proven that Bitcoin can serve as a reliable long-term store of value for corporate treasuries.

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The Road Ahead

As MicroStrategy continues to buy Bitcoin, Saylor shows no signs of slowing down. Each acquisition sends a message of confidence not just to shareholders, but to the entire crypto industry.

The company’s transformation has sparked a global conversation about how businesses can leverage Bitcoin for financial resilience and strategic advantage. And with Saylor’s relentless optimism, it’s clear that MicroStrategy’s Bitcoin journey is far from over.

“Bitcoin is the future of money,” Saylor often says. “And we plan to be there every step of the way.”

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Final Thoughts

MicroStrategy’s ongoing Bitcoin purchases represent more than just a corporate investment — they symbolize the growing alignment between traditional finance and decentralized money.

In an era where inflation erodes cash value and trust in centralized systems continues to wane, Saylor’s vision stands as both a hedge and a declaration of belief in digital freedom.

 

As MicroStrategy keeps adding to its Bitcoin treasury, it is not just holding an asset — it is helping build the foundation of a new financial era.

 

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Stay Connected

You can stay up to date on all News, Events, and Marketing of Rare Network, including Rare Evo: America’s Premier Blockchain Conference, happening  July 28th-31st, 2026 at The ARIA Resort & Casino, by following our socials on X, LinkedIn, and YouTube.