Cryptocurrency exchange Bybit will launch its tokenized stock product, mStocks, in November. The product is backed 1:1 by actual stocks.
mStocks is designed to be traded 24 hours a day, seven days a week, regardless of existing stock-market trading hours. Each token corresponds to one share of the actual underlying stock rather than being structured synthetically.
The issuer of the tokens is Halo Prime Limited, registered in the British Virgin Islands. Halo Prime classifies mStocks as debt securities subject to limited recourse.
Bybit is neither the issuer nor the custodian of mStocks, and provides the trading interface and related smart-contract functionality.