Dubai-based crypto exchange Bybit announced on Monday, May 19, that it has expanded its Gold & FX product suite to include equities trading. This allows users to trade shares of 78 companies, including Coinbase and the "Magnificent 7," using Tether's USDT stablecoin. The new feature aims to bridge digital asset platforms and Wall Street.
Bybit's stock trading feature operates on a contract for difference (CFD) model. CFDs allow traders to speculate on asset price movements without owning the underlying securities. Profits or losses are settled based on the difference between entry and exit prices, with potential dividend adjustments.
This move follows similar initiatives by other crypto service providers. Last month, Kraken unveiled plans for U.S. stock and ETF trading, and Crypto.com supports stock and ETF trading via a partnership. Platforms like Robinhood and eToro also offer crypto listings, indicating a growing convergence between traditional finance and digital assets.
This article is based on our author's analysis of materials taken from the following resource: Coindesk.