Key takeaways
- Mantle, Bybit, and Backed launch xStocks to offer tokenized exposure to U.S. equities like NVDA, AAPL, and MSTR.
- The collaboration enables 24/7 access to stocks onchain and integrates trading between centralized and decentralized platforms.
- xStocks are backed 1:1 with underlying securities and designed to be composable for DeFi applications.
Partnership introduces tokenized U.S. equities to Mantle ecosystem
A new collaboration between Mantle, Bybit, and Backed is bringing U.S. equities into the onchain economy. The initiative centers on xStocks, a product line offering tokenized versions of traditional stocks such as Nvidia (NVDA), Apple (AAPL), and MicroStrategy (MSTR). The move is positioned to link conventional financial markets with decentralized finance (DeFi) by enabling round-the-clock access to stock exposure directly within Mantle’s ecosystem.
xStocks are issued by Backed, a Switzerland-based tokenization firm, and are tied 1:1 to their respective underlying securities through regulated custodians. The tokens follow a standardized, verifiable issuance process and aim to create programmable assets that developers and institutions can integrate into various DeFi products.
The rollout leverages Mantle’s Ethereum Layer-2 infrastructure, which combines modular architecture, a data availability layer, and reduced transaction costs. It’s designed to allow these tokenized assets to be transferred and used as building blocks across smart contract-based financial applications.
Seamless integration between centralized and decentralized platforms
As part of the launch, Bybit will enable direct deposits and withdrawals of xStocks via the Mantle Network, allowing users to shift assets between centralized and decentralized environments without friction. This integration aims to streamline onboarding, increase liquidity, and encourage wider user participation in tokenized markets.
“Tokenized equities are redefining how traditional markets interact with blockchain technology. Bybit is proud to support Mantle’s vision of creating a unified, scalable platform where real-world assets can thrive onchain, delivering accessible and innovative financial solutions to a global audience.” —Emily Bao, Head of Spot at Bybit
According to Bao, the project goes beyond digital representation. “With Mantle’s architecture and Ethereum-grade security, combined with Bybit’s infrastructure, tokenized equities are positioned to become essential tools in next-generation financial products,” she added.
“It takes more than tokenization to bridge TradFi and DeFi; you need infrastructure and distribution. Beyond accessibility, xStocks are built for composability. Together with Mantle and Bybit, we’re building the onchain economy to not only absorb capital markets but improve them.” —David Henderson, Head of Growth at Backed
Expanding Mantle’s footprint in real-world assets
The xStocks launch builds on a broader set of initiatives by Mantle aimed at increasing adoption of real-world assets (RWAs) onchain. Recent steps include Anchorage integration for institutional custody of the $MNT token, a listing on Moomoo Exchange targeting U.S. retail investors, and the rollout of Tokenization-as-a-Service for compliant asset onboarding. Mantle has also launched hackathons and scholarships focused on expanding developer pipelines in the RWA space.
While xStocks are not available to U.S. citizens due to regulatory restrictions, Mantle is positioning itself as a foundational layer for global tokenized finance. The network currently secures over $4 billion in community-owned assets and collaborates with multiple protocols including Ethena, Ondo, and EigenLayer.
To wrap it up
By bringing tokenized U.S. equities to the blockchain, Mantle, Bybit, and Backed are advancing efforts to bridge centralized financial infrastructure with decentralized innovation. The launch of xStocks marks a step toward making traditional market access more programmable and composable, signaling a wider trend of integrating real-world financial assets into onchain systems.