Bybit Launches Tokenised IPO Access Starting With SpaceX

Bybit, a Dubai-based cryptocurrency exchange, has launched IPO Express, a platform designed to give retail investors access to tokenised IPO allocations before shares begin public trading.

Built on the xStocks framework, the service converts IPO allocations into blockchain-based tokens backed one-to-one by shares held in custody. Users can register interest in an offering, submit subscription orders within a specified price range, and receive allocations on the listing date if their orders are successful.

The tokens can then be traded through the exchange after listing.

SpaceX is the first company to be offered through the platform. Subscription orders opened on June 7th and will remain available until June 11th, with trading expected to begin on June 12th.

According to Bybit, the platform is intended to provide retail investors with access to opportunities that are often limited to institutional investors or participants with access to pre-listing allocations.

The launch reflects growing interest in the tokenisation of financial assets, a process that uses blockchain technology to create digital representations of traditional securities and investment products.

Bybit said IPO Express forms part of broader efforts to expand access to financial markets through blockchain-based infrastructure and tokenised investment products.