Bybit plans to expand its tokenized equity trading with mStocks in November 2026, offering share-backed tokens that trade through nights and weekends. The product promises round-the-clock access, but its legal structure gives holders creditor claims rather than direct ownership of the underlying shares.
Key takeaways
- mStocks will offer continuous trading with one real share backing each token.
- Halo Prime Limited will issue the tokens as debt obligations.
- Mantle is collaborating on features that enable the use of trading collateral.
- Bybit’s separate Direct Stocks service trades 24/5.
According to Crypto Briefing, the planned launch follows the October 12, 2026 debut of Bybit’s Direct Stocks service. The two products differ in trading hours, legal structure and how users can put their holdings to work.
Bybit’s tokenized equity trading will run 24/7
mStocks will trade 24/7, including weekends and periods when traditional stock exchanges are closed. Each token is intended to represent one real share, with 1:1 backing, rather than a synthetic position that merely tracks a stock’s price.
The November launch is planned as a separate offering from Direct Stocks. Both sit within Bybit’s New Financial Platform strategy, whose stated aim is to give users access to a broader range of financial products.
Share backing does not mean direct ownership
Halo Prime Limited, registered in the British Virgin Islands, will issue mStocks as limited-recourse debt obligations. Holders will therefore have claims against the issuer with defined limits, not direct ownership of shares through a regulated broker.
Bybit will supply the trading interface and operate the smart contract functions. It will be neither the issuer nor the custodian, separating its operational role from that of the entity responsible for issuing the tokens.
Mantle collaboration adds collateral features
mStocks are being developed with Mantle to incorporate DeFi features, including use as trading collateral. Bybit says the tokens are designed to let a stock-backed position support other trades on the platform.
The report describes that collateral function as a way to improve capital efficiency: users can put an existing position to work rather than leave it idle. It also notes that using stock tokens to support additional trades can amplify losses during rapid market moves.
How mStocks differ from Direct Stocks
Bybit’s tokenized equity trading through mStocks will operate seven days a week, while Direct Stocks offers 24/5 access and zero commission on eligible trades. Direct Stocks launched on October 12, 2026, with access to more than 1,000 US stocks and ETFs funded using USDC.
Crypto.news reported that the direct stock service is available to eligible users in permitted jurisdictions who complete the required Know Your Customer verification. Fractional shares are available for eligible securities, and trading covers premarket, regular and after-hours sessions, with availability varying by security.
Under that distinct offering, Alpaca is responsible for executing, clearing and holding custody of the underlying securities, while customers obtain an economic stake in what they buy. Any cash dividends are converted to USDC and deposited into users’ trading accounts, whereas stock dividends and splits are applied to their holdings according to the relevant terms.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.