Bybit launches tokenized IPOs, challenging Wall Street

Crypto exchange Bybit is making a significant move into traditional finance by launching its IPO Express service, allowing retail investors to purchase tokenized shares of upcoming U.S. stock IPOs at their official pricing. This initiative, starting with SpaceX's highly anticipated listing, aims to democratize access to IPOs previously reserved for institutional investors. Bybit's offering differs from earlier derivative products by providing actual tokenized representations of equities, powered by Payward Services' xStocks. This development signifies a growing convergence between traditional capital markets and crypto infrastructure, as exchanges expand their services beyond digital asset trading.