In a move that underlines the growing adoption of tokenized assets, Bybit has partnered with xStocks. As announced, the partnership will focus on launching tokenized US stocks and ETFs on Bybit’s spot trading segment.
The exchange confirmed the development on Monday through a blog post. Accordingly, xStocks’ tokenized physical assets including COINX, NVDAX, AAPLX, GOOGLX, AMZNX, TSLAX, and many others will all become available for trading on Bybit.
Thanks to the partnership, more than 70 million registered users of the exchange can now access top compliant tokenized assets. Meanwhile, Bybit in the statement established that all the tokens are well-backed and are transferable.
Furthermore, the exchange said they can easily integrate across various blockchains and ecosystems. More so, xStocks is a blockchain-based equity investment platform created by Backed Finance.
While describing its new partner, Bybit said Backed Finance is a trailblazer in tokenizing compliant physical assets. xStocks according to Bybit is driven by the growing demand for tokenized assets and aims to bring exchanges and trading protocols together to redefine the capital markets.
At its core, xStocks intends to establish more transparency, efficiency, and accessibility by synergizing blockchain technology with traditional finance.
How the tokenized assets have grown over the years
Tokenized assets are redefining finance lately as they enable traditionally illiquid assets to become more tradable. With these innovations, real-world assets like bonds, stocks, real estate and many more now find a place in blockchain technology.
A report by the Tokenized Assets Coalition revealed that as of 2024, the sector is already valued at around $176 billion. The figure according to the report represents about a 32% year-to-date increase.
As part of the noticeable growth, non-stablecoin assets also went up by 53% during the year as well. So far, top traditional finance companies like BlackRock, Visa and Franklin Templeton have all ventured into the tokenized assets sector.
According to Standard Chartered, the tokenized asset sector will hit $30 trillion by 2034. Similarly, Boston Consulting Group also projected the sector to attain $16 trillion in value.
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