Imagine owning a piece of Nvidia (NVDAx) or Apple (AAPLx) represented as a token on the Mantle network. That’s precisely what this collaboration aims to deliver. Backed, a regulated tokenization firm, will issue these xStocks, ensuring they are fully backed 1:1 by real-world securities held in custody.
This means each NVDAx token represents a claim on an actual share of Nvidia, offering a level of transparency and trust that’s often missing in the wild west of DeFi. And because they live on the Mantle blockchain, these assets are available for trading around the clock, bypassing the limitations of traditional market hours.
Bybit, a major player in the crypto exchange arena, is playing a critical role in onboarding users and boosting liquidity for xStocks. The exchange will support seamless deposits and withdrawals of these tokenized equities via the Mantle network, creating a bridge between centralized and decentralized systems.
This integration simplifies the process for users to move assets between the traditional crypto world and the emerging realm of tokenized securities. No more complex on-ramps or off-ramps – just straightforward transfers facilitated by Bybit’s established infrastructure.
The real magic of xStocks lies in their potential to become programmable financial assets within DeFi. Think of them as building blocks for entirely new financial applications. Mantle envisions xStocks being used for:
- Collateralization in lending and borrowing protocols.
- Fractional ownership of high-value stocks.
- Integration into yield strategies and synthetic assets.
This composability is what sets xStocks apart from simply owning a stock in a brokerage account. They can be combined and remixed in countless ways, empowering developers to create innovative financial tools and services.
“This is about turning tokenized equities from static instruments into programmable assets that scale into new innovations.” – Emily Bao, Advisor – Mantle
This partnership is just the latest in Mantle’s push to become a hub for real-world assets (RWAs) onchain. The Layer 2 blockchain has been actively building out its infrastructure and partnerships to support the tokenization of various asset classes.
Recent initiatives include integration with Anchorage for institutional custody of $MNT, a Moomoo listing to reach U.S. retail investors, and the launch of Tokenization-as-a-Service (TaaS) for institutions. Mantle is clearly positioning itself as a one-stop-shop for bridging the gap between traditional finance and the decentralized world.
Tokenizing U.S. stocks like Nvidia and Apple is more than just a technical novelty; it’s a potential paradigm shift. It represents a move towards democratizing access to financial instruments that have historically been limited to a select few. The 24/7 trading, coupled with the composability of DeFi, opens up a world of possibilities for both retail and institutional investors.
The success of this venture will depend on factors like regulatory clarity and user adoption. But if Mantle, Bybit, and Backed can deliver on their promise of seamless integration and robust security, xStocks could become a major catalyst for bringing real-world assets into the blockchain revolution.
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