Blockchain network Mantle has entered a collaboration with crypto exchange Bybit and tokenisation firm Backed to bring tokenised versions of US equities onchain. The initiative, called xStocks, aims to make shares such as Nvidia, Apple and MicroStrategy available around the clock within Mantle’s ecosystem, according to the companies, states Bybit in a press release.
Through xStocks, users will be able to gain exposure to tokenised equities issued by Backed and backed one-to-one by their underlying securities, held by regulated custodians. The tokens can be moved between Bybit and the Mantle network, allowing for deposits and withdrawals directly between a centralised exchange and a blockchain environment.
Bybit said the setup could lower barriers between traditional markets and decentralised finance by providing continuous access to equity exposure. Mantle’s role lies in providing the blockchain infrastructure, while Backed delivers the regulatory framework for the token issuance.
Bridging
Mantle describes itself as an Ethereum layer-2 network using zero-knowledge proofs for scalability. The company has been positioning its platform as a base for tokenised assets and real-world asset (RWA) initiatives. Recent steps include partnerships for institutional custody, listings of its native token on traditional-style exchanges, and a “Tokenisation-as-a-Service” framework aimed at institutions.
With the xStocks collaboration, the three firms are pitching what they call a bridge between traditional finance, centralised exchanges and decentralised applications, a development that could test how far tokenised equities can go in connecting capital markets with blockchain infrastructure.
