Bybit Enables Six Tokenized Stocks as Collateral for Margin Trading and Crypto Loans
Key Takeaways
- •Bybit now allows eligible retail and institutional users to pledge six tokenized stocks as collateral for margin trading, crypto loans, and institutional loans.
- •The supported tokenized equities represent major US companies including Nvidia, Tesla, Apple, Alphabet, Robinhood, and Circle.
- •Each tokenized asset is backed on a 1:1 basis by the underlying security, which is held by a regulated custodian to maintain direct correspondence with off-chain equities.
- •Competing exchanges Kraken and Bitget have also introduced tokenized stocks as collateral for leveraged trading and lending products in mid-2026.
- •The total tokenized equities market grew from roughly $361 million in late July 2025 to approximately $1.72 billion by late July 2026, according to RWA.xyz data.
Dubai-based cryptocurrency exchange Bybit has expanded the financial utility of blockchain-based equities by enabling six tokenized stocks to serve as collateral for margin trading and lending products.
The update allows eligible retail and institutional users to pledge tokenized shares of Nvidia (NVDAX), Robinhood (HOODX), Circle (CRCLX), Tesla (TSLAX), Alphabet (GOOGLX), and Apple (AAPLX) as collateral for margin trading and borrowing through Bybit's Unified Trading Account, Crypto Loans, and Institutional Loans. The feature is available subject to Bybit's lending terms and product availability. The six selected tokens correspond to some of the most heavily traded US equities by market capitalization.
Bybit first introduced xStocks in June 2026 through a partnership with tokenization platform Backed, listing more than 60 tokenized US stocks and exchange-traded funds on its spot market. Each tokenized asset is backed 1:1 by the underlying security, which is held by a regulated custodian, ensuring that the on-chain tokens maintain direct correspondence with off-chain equities.
Other major exchanges have similarly broadened the use of tokenized equities as collateral. Kraken, which agreed to acquire Backed in late 2025, began accepting select tokenized stocks and ETFs as collateral for futures and margin trading earlier in July 2026. Bitget also supports tokenized stocks as collateral, introducing the feature for futures margin in June before expanding it to crypto loans in July.
Data from RWA.xyz shows the tokenized equities market has grown sharply over the past year, with total distributed value rising from roughly $361 million in late July 2025 to approximately $1.72 billion as of late July 2026.
Tokenized stocks represent a broader trend within the real-world asset (RWA) sector, where traditional financial instruments are issued on blockchain networks to enable faster settlement, fractional ownership, and composability with decentralized finance protocols. For users in jurisdictions where direct access to US equity markets is restricted, tokenized stocks on cryptocurrency exchanges can offer an alternative avenue for exposure, contributing to demand observed across platforms in the sector.
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