Bybit Adds Meta, Tesla xStocks as Tokenized Equities Hit $1.48B

Bybit added four tokenized equity pairs to its Dual Asset structured product, lifting the lineup to ten and extending its position in tokenized securities. The new pairs, METAXUSDT, TSLAXUSDT, HOODXUSDT and CRCLXUSDT, track Meta, Tesla, Robinhood and Circle. All ten settle through the same non-principal protected mechanism, which means subscribers can lose money.

Users pick an asset pair and an investment period, then set a target price for a fixed return. At expiry, settlement depends on where the xStock's market price lands relative to that target. If it settles above or below, the delivered asset changes: subscribers can end up holding the xStock instead of USDT, or the reverse. Price risk and settlement-asset risk are built into every trade.

Among existing pairs, Nvidia-linked xStocks draw the most user demand, while SpaceX-linked ones carry the highest trading volume. The platform data points two ways: investors chasing AI exposure, and investors using crypto rails to reach private-market names they cannot easily buy elsewhere. AlphaScala's Alpha Score rates NVDA at 77 out of 100, a Strong label, with the stock at $223.96, up 2.27% on the session.

Bybit says it is the first centralized exchange to use xStocks as underlying assets inside a structured yield product.

Direct tokenized stock trading exists elsewhere. A settlement-based structure that swaps the delivered asset at expiry is a different move. The xStocks act as reference assets rather than direct ownership of the underlying shares; legal rights depend entirely on issuer terms. Anyone expecting these to behave like a standard brokerage account will be surprised.

The sector spread is deliberate. Meta and Tesla bring AI and electric vehicle exposure. Robinhood represents retail brokerage, a business that has had a turbulent stretch. Circle, the stablecoin infrastructure company, adds a crypto-native angle that fits Bybit's core user base.

CEX.IO puts the tokenized equity market at $1.48 billion and roughly 352,000 wallets as of mid-2026. Growth since the start of the year has been significant, though the segment remains small next to stablecoins and government debt tokens. The build-out extends beyond Bybit; Robinhood's tokenized QQQ push is part of the same trend.

Bybit is not waiting for the tokenized equity market to mature on its own. The exchange is wrapping xStocks inside a yield-generating structure its traders already understand, trying to manufacture demand. Dual Asset is not new; the underlying is. The timing follows a pickup in tokenized equity adoption across major platforms and issuers.

Access is restricted. The same eligibility rules and regional limitations that apply to xStocks directly apply here, which leaves users in the United States and the United Kingdom unable to participate. The restriction removes a large slice of potential demand, and it is not Bybit's call; it is the regulatory reality of tokenized securities on a global exchange. Whether that constraint lifts anytime soon is an open question.

Bybit is pushing users to read the risk disclosures before subscribing. The settlement mechanics are genuinely complex. Receiving a different asset at expiry than the one subscribed for is a designed feature, not a glitch. Short-duration exposure to high-volatility names like Tesla or Meta through a settlement structure is not the same as buying shares; the risk profile runs deeper than it looks.