Bybit Becomes First Crypto Exchange to Explore Stock Trading Using USDT

Crypto exchange Bybit has expanded from the crypto market into other financial sectors. Its latest addition to the bandwagon is stock trading. Through Bybit Gold & FX, users can trade up to 78 stocks using Tether’s flagship stablecoin, USDT.

Bybit Explores Stock Trading

Bybit Gold & FX is a section within the Bybit ecosystem that allows users to tap into the traditional financial market. As of this writing, the product supports forex trading and contracts for difference (CFDs). For context, CFDs are a form of derivative trading that allows users to speculate on the prices of gold, oil, metal, etc., without owning the actual asset.

To access the Gold & FX product, users must create a Bybit account and activate the Bybit server on a MetaTrader 5 (MT5) account. Users must fund their MT5 accounts with USDT to access these investment vehicles.

The same principle applies to the newly introduced stock trading. The crypto exchange features popular stocks like Apple’s AAPL, Airbnb’s ABNB, Amazon’s AMAZON, Microsoft’s MSFT, and Tesla’s TSLA. It also includes stocks of crypto-tied public companies like Robinhood’s HOOD, Strategy’s MSTR, and Coinbase’s COIN. Bybit hinted that more stocks will be introduced over time.

Bybit’s announcement added that a 0.04 USDT fee applies to each share.

More Crypto Exchanges Interested in TradFi

Although Bybit is the first crypto exchange to enable stock trading using USDT, it is not the first to explore the traditional finance (TradFi) ecosystem. Coinbase, a rival crypto exchange, already delved into the stock market in April 2021, becoming the first crypto exchange to do so.

In December 2024, Japanese crypto exchange Coincheck disclosed that it was going public on the Nasdaq stock exchange. CoinTab reported that Coincheck would become the second public crypto exchange after Coinbase.

Last week, a Bitcoin mining company called American Bitcoin revealed its plan to go public on the United States financial market.

Bybit has joined the list of companies offering stocks, cryptocurrencies, and other financial products to users. Others doing similar business include eToro and Robinhood.

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