Bybit and Backed to List Tokenized Stocks on Mantle

Tokenized Equities Arrive on Layer 2

Bybit has teamed up with Backed Finance to launch tokenized shares of major U.S. companies such as Apple, Nvidia, Microsoft and Strategy on the Mantle Layer 2 blockchain, the firms said on Friday. The collaboration expands the reach of Backed’s xStocks product, already available through centralized and DeFi venues including Kraken, Kamino, Raydium and Jupiter.

Backed said onchain transaction volume for xStocks has surpassed $1.6 billion. The integration will allow users to withdraw and deposit assets between Bybit and Mantle “efficiently and securely,” the companies said in a joint statement, describing the move as a way to speed up user onboarding and add liquidity to the network.

Investor Takeaway

Bringing Real-World Assets Onchain

Backed’s tokenized stocks allow non-U.S. investors to gain exposure to listed equities via digital tokens that can trade across multiple blockchains and time zones. Each tokenized share mirrors its underlying stock and can be platformd or used as collateral within .

The company said its goal is to make tokenized equities tradeable “around the clock and across ecosystems” while remaining compliant with jurisdictional rules that restrict U.S. residents. The partnership with Bybit gives a new channel to access these products through a large platform already familiar to crypto users.

Bybit ranked among the world’s top platforms by trading volume in 2025, while Mantle has promoted itself as a “distribution layer” firms with onchain liquidity. Mantle completed its transition to a zero-knowledge (ZK) rollup with Succinct Labs late last year, cutting transaction costs and increasing throughput for tokenized products.

Industry Push Toward Tokenized Equities

The collaboration comes as tokenized real-world assets, or RWAs, draw growing interest from investors and institutions. Analysts expect the market for tokenized assets—including government bonds, private credit, and equities—to reach several trillion dollars within the next decade. Backed’s xStocks platform is one of the few offerings already providing live exposure to publicly traded companies through blockchain infrastructure.

“Together with Backed and Bybit, we’re turning tokenized equities from static instruments into programmable assets that scale into new innovations and use cases across the Mantle ecosystem,” Mantle advisor Emily Bao said in the announcement.

The companies said users would be able to access tokenized shares directly from decentralized applications and wallets they already use. Bybit added that the partnership would create a bridge between centralized platform liquidity and Mantle’s onchain settlement layer, integrating traditional assets into Web3 trading environments.

Investor Takeaway

What Comes Next

The rollout marks another step in the convergence between traditional finance and decentralized infrastructure. With Mantle hosting tokenized equities, traders could soon gain round-the-clock access to blue-chip stocks through crypto wallets, bypassing traditional brokerage platforms. Whether the products view sustained demand will depend on liquidity, regulatory clarity, and investor confidence in the custody models used to back the tokens.