Bybit adds tokenized Nvidia, Apple, Tesla stocks as loan collateral
Eligible retail and institutional users can use tokenized shares of Nvidia, Apple, Tesla and three other US companies across Bybit’s trading and lending products.
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.