Cryptocurrency exchange Bybit launches tokenised IPO platform, starts with SpaceX offering

Cryptocurrency exchange Bybit has launched “IPO Express”, a platform that allows eligible users to subscribe to tokenised representations of initial public offerings (IPOs), beginning with shares linked to aerospace company SpaceX.The exchange said the service, powered by tokenisation provider xStocks, will enable eligible retail investors to access IPO allocations at the offering price through tokenized equity products.

According to the company, the product is among the first such offerings by a centralised cryptocurrency exchange.
Under the announced timeline, users can register interest and submit subscription requests for the SpaceX-linked tokenised offering between June 7 and June 11. Allocations are scheduled for June 11-12, with trading expected to begin on Bybit’s spot platform on June 12.
ALSO READ | SpaceX’s AI revenue can grow 100x by 2030, Wall Street analysts project to justify valuationThe launch comes amid growing interest in tokenised real-world assets (RWAs), a segment that seeks to represent traditional financial assets such as equities, bonds and real estate on blockchain networks.

Bybit said the tokenised shares will be backed on a 1:1 basis by underlying equity held through regulated broker-dealer custody arrangements. The company noted that participation remains subject to eligibility requirements, while listings may be delayed, modified or cancelled due to market or regulatory conditions.

The exchange said the new offering is aimed at expanding access to IPO opportunities that have traditionally been available primarily through brokerage networks and institutional channels.

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