Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has entered the traditional finance arena by launching direct trading of global stocks using the stablecoin USDT, according to an announcement on Monday.
The new offering, part of Bybit’s existing Gold & Forex (MT5) product suite, allows users to trade 78 global equities, including major companies like Apple, Tesla, Meta, Nvidia, and Amazon. This expansion enables Bybit users to access not only cryptocurrencies but also stocks, gold, oil, indices, and forex, all within the same platform and using USDT.
Traditionally, trading stocks requires users to convert their cryptocurrency holdings into fiat currency through a separate exchange, undergo a separate KYC process, and then transfer those funds to a brokerage account. Bybit’s new system streamlines this process, allowing users to trade a wider range of assets directly with USDT, potentially attracting more crypto-native investors to traditional markets.
Bybit’s integration of stock trading into its platform reflects a broader trend of crypto exchanges diversifying their offerings. Exchanges are looking to capture a wider audience and compete with traditional financial institutions by providing a more comprehensive suite of trading products.
