Cryptocurrency exchange Bitrue has introduced trading for tokenized stocks issued by Backed Finance via its xStocks platform, allowing users to invest in major tech companies, including NVIDIA, Tesla, and Apple.
Tokenized equities turn traditional shares into blockchain-based tokens, letting investors hold digital representations of stocks rather than the shares themselves. Supporters say the model could lower trading costs, shorten settlement times, and eventually allow trading to happen around the clock.
The initial tokenized stocks available for trading on Bitrue include NVIDIA, Circle Internet Group, Apple, Tesla, SPDR S&P 500 ETF Trust, and MicroStrategy.
Adam O’Neill, Chief Marketing Officer at Bitrue, commented: “With these new tokenized stocks, we’re excited to showcase one of the core principles of Bitrue—freedom of investment. We’re working to break down barriers that often exclude smaller investors, providing them with new opportunities to expand their portfolios and generate real returns.”
With nearly seven years of operation and over 10 million registered users, Bitrue is a popular Asian cryptocurrency exchange that has been in operation since 2018. The Singaporean centralized platform supports spot and futures trading, crypto loans, and high-interest yield farming and staking.
Interest in tokenized stocks picked up across the crypto world. Kraken said last month it would launch its own U.S. stock tokens, called xStocks, for non-U.S. users. Coinbase also indicated it’s seeking approval from regulators to bring tokenized equities to its customers.
Also last week, blockchain startup Dinari secured broker-dealer registration for its U.S. subsidiary. The approval is a first in the U.S., according to Dinari, and puts the San Francisco-based firm ahead of other crypto companies like Coinbase and Kraken, which are also exploring tokenized stock offerings.
Unlike retail brokers like Robinhood or Schwab, Dinari’s platform is built to be integrated into other firms’ apps, rather than offering a consumer-facing product. The company says it will make its broker-dealer operational in the next quarter and already has several partnerships lined up — though it hasn’t named them publicly.
