Mantle partners with Bybit and Backed bringing tokenized U.S. equities onchain

Mantle, a high-performance Layer-2 network focused on real-world assets (RWAs), has announced a strategic collaboration with Bybit and Backed to introduce tokenized U.S. equities onchain through xStocks, according to details shared with Finbold on November 7.

The initiative allows users to gain exposure to tokenized versions of U.S stocks, such as NVDAx, AAPLx, and MSTRx, directly within the Mantle ecosystem. 

The partnership combines Mantle’s scalable blockchain infrastructure with Bybit’s exchange liquidity and Backed’s regulated tokenization framework, and will enable 24/7 access to traditional markets.

Connecting centralized and decentralized markets

Bybit will support xStock deposits and withdrawals via Mantle at launch and create a direct bridge between its centralized exchange (CEX) and Mantle’s onchain environment. The integration is designed to improve liquidity and simplify access for users and developers engaging with tokenized assets.

Each xStocks token is issued by Backed and backed 1:1 by the underlying security, such as equities or treasuries, offering verifiable exposure to regulated assets.

“Tokenized equities are redefining how traditional markets interact with blockchain technology,” said Emily Bao, Head of Spot at Bybit. “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.”

Building a foundation for onchain capital markets

Mantle, which operates as Ethereum’s (ETH) largest zero-knowledge proof-powered Layer 2, aims to bridge traditional finance (TradFi), centralized finance (CeFi), and and decentralized finance (DeFi) through modular architecture and low-fee infrastructure.

“With Mantle’s modular architecture, premium technology stack, and Ethereum-grade security, combined with Bybit’s infrastructure and reach, tokenized equities are set to become a foundational building block for the next wave of onchain finance,” said Emily Bao, Key Advisor at Mantle. “xStocks represents a pivotal step in turning traditional assets into composable building blocks that scale across Mantle’s ecosystem and power the decentralized economy.”

David Henderson, Head of Growth at Backed, 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.”

Expanding Mantle’s RWA ecosystem

The announcement builds on Mantle’s broader real-world asset initiatives, including institutional custody with Anchorage, a Tokenization-as-a-Service framework, a U.S. retail listing for $MNT on Moomoo Exchange, and global RWA hackathons and scholarships.

As part of its roadmap, Mantle plans to expand integrations that enhance liquidity, transparency, and composability for tokenized assets across DeFi.

Disclaimer: xStocks are not available in the U.S. or to U.S. citizens. Geographic restrictions apply.

Featured image via Shutterstock.