Bybit plans to launch mStocks next month. The product will offer 24/7 access to tokenized equities backed by real shares.
The launch is set for November 2026. It arrives one day after Bybit rolled out a separate stock trading product.
What mStocks actually are
According to the announcement, mStocks will be backed 1:1 by underlying shares. Each token is meant to correspond to one real share, not a synthetic bet on the price.
The headline feature is the trading window. mStocks will trade 24/7, including nights, weekends, and the hours when traditional exchanges are closed.
mStocks will be issued by Halo Prime Limited, a company registered in the British Virgin Islands.
Halo Prime classes the tokens as limited-recourse debt obligations. Put simply, holders are owed something by the issuer, and the reach of that claim has defined limits.
Bybit’s role is narrower than its branding might suggest. The exchange will provide the trading interface and operate the smart contract functions, but it will not act as issuer or custodian.
The DeFi layer and the Mantle connection
mStocks are being developed in collaboration with Mantle, which is bringing DeFi features to the product.
Bybit says the tokens are designed to work as trading collateral. A stock position could, in principle, back other trades on the platform rather than sitting idle.
The research also points to potential trading on decentralized exchanges. That would let mStocks move beyond Bybit’s own order books and into the wider on-chain market.
How it fits next to Direct Stocks
mStocks is separate from Bybit’s Direct Stocks program, which launched on October 12, 2026. Direct Stocks offers access to over 1,000 US stocks and ETFs. Users fund trades with USDC, and eligible trades carry zero commission.
The key difference is the schedule. Direct Stocks runs 24/5, while mStocks will run 24/7.
Both products fall under Bybit’s New Financial Platform strategy. The stated aim is to expand user access to a wider range of financial products.
What this means for traders and the market
The legal structure deserves careful reading. A limited-recourse debt obligation from a British Virgin Islands issuer is a different instrument from owning a share through a regulated broker.
Bybit has been clear that the issuer and custodian roles are not its own.
The collateral feature is a double-edged tool. Using stock tokens to back other trades can make capital more efficient, and it can also amplify losses when markets move fast.
Key things to track ahead of the November 2026 launch include which equities are listed, how closely token prices follow the underlying shares, and whether DEX trading moves from potential to reality. The Mantle integration will be the clearest test of whether the DeFi features deliver real utility.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.