Bybit Enables Tokenized Stocks as Collateral for Margin Trading and Lending

Dubai-based crypto exchange Bybit has enabled six tokenized stocks to serve as collateral for margin trading and lending products, expanding the financial utility of blockchain-based equities.

The update allows eligible retail and institutional users to use 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.

Bybit first introduced xStocks in June through a partnership with tokenization platform Backed, listing more than 60 tokenized US stocks and exchange-traded funds on its spot market. The assets are backed 1:1 by the underlying securities, which are held by a regulated custodian.

Other exchanges have also expanded the use of tokenized equities as collateral. Kraken, which agreed to acquire Backed in late 2025, began accepting select tokenized stocks and exchange-traded funds as collateral for futures and margin trading earlier this month. 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 expanded sharply over the past year, with total distributed value rising from roughly $361 million in late July 2025 to about $1.72 billion today.