Bybit plans November launch of mStocks, 24/7 tokenized stocks backed 1:1 by shares
In brief
- Bybit plans to launch mStocks in November 2026, according to its announcement.
- mStocks tokens are each meant to correspond to one real share and trade 24/7.
- Halo Prime Limited, registered in the BVI, issues the tokens as limited-recourse debt obligations.
- Bybit runs the interface and smart contracts but isn't the issuer or custodian.
- Direct Stocks, Bybit's separate program, launched one day before the mStocks announcement.
How mStocks is structured
According to the announcement, each token is meant to correspond to one real share (not a synthetic bet on the price). Trading is set to run 24/7, including nights, weekends and the hours when traditional exchanges are closed.
So who actually issues the tokens? It isn't Bybit.
mStocks will be issued by Halo Prime Limited, a company registered in the British Virgin Islands, and Halo Prime classifies the tokens as limited-recourse debt obligations. Bybit's role, per the announcement, is narrower: it'll provide the trading interface and operate the smart contract functions, but it won't act as issuer or custodian.
In its own analysis, Crypto Briefing noted that a limited-recourse debt obligation from a BVI issuer is a different instrument from owning a share through a regulated broker.
Mantle, defi and collateral
Bybit is developing mStocks in collaboration with Mantle, which is bringing defi features to the product. Bybit says the tokens are designed to work as trading collateral. Research cited by Crypto Briefing also points to potential trading on decentralized exchanges.
That collateral piece cuts both ways. The outlet said using stock tokens to back other trades can make capital more efficient, and it can also amplify losses when markets move fast.
Separate from Direct Stocks
mStocks isn't the same thing as Bybit's Direct Stocks program, which launched on October 12, 2026, according to Crypto Briefing. Direct Stocks offers access to over 1,000 US stocks and ETFs; users fund trades with USDC, and eligible trades carry zero commission. It runs 24/5.
mStocks is set to run 24/7.
Both products fall under Bybit's New Financial Platform strategy, and the stated aim is to expand user access to a wider range of financial products.
Frequently asked questions
Who issues Bybit's mStocks tokens?
According to Bybit's announcement as reported by Crypto Briefing, mStocks will be issued by Halo Prime Limited, a company registered in the British Virgin Islands. Halo Prime classifies the tokens as limited-recourse debt obligations. Bybit provides the trading interface and operates the smart contract functions but won't act as issuer or custodian.
How is mStocks different from Bybit Direct Stocks?
Direct Stocks launched on October 12, 2026, and offers access to over 1,000 US stocks and ETFs funded with USDC, running 24/5, according to Crypto Briefing. mStocks is a separate product of tokens backed 1:1 by real shares, set to launch in November 2026 and trade 24/7.
