Mantle onboards Backed’s $1.6b tokenized equity franchise

Mantle brings a major player into its fold with Backed’s xStocks. The platform, already responsible for over $1.6 billion in onchain volume, lends immediate scale and credibility to the blockchain’s real-world asset ambitions.

According to a statement dated Nov. 7, the Layer 2 network Mantle has strategically partnered with crypto exchange Bybit and issuance specialist Backed Finance to integrate the latter’s xStocks tokenized equity products.

The integration will see flagship tokens representing stocks like Apple (AAPLx), Nvidia (NVDAx), and Strategy (MSTRx) become natively accessible within the Mantle ecosystem.

Notably, the arrangement is fortified by Bybit’s commitment to provide full CEX support from day one, enabling seamless deposits and withdrawals of these assets directly to the Mantle chain, a critical piece for user onboarding and liquidity flow.

“Tokenized equities are redefining how traditional markets interact with blockchain technology,” Emily Bao, Head of Spot at Bybit, said. “Bybit is proud to support Mantle’s vision of creating a unified, scalable platform where real-world assets can thrive onchain, delivering accessible and innovative financial solutions to a global audience.”

Mantle’s play for onchain capital markets

For Mantle, this integration is being framed as a milestone. It cements the company’s transition into what it calls a “high-performance distribution and liquidity layer for real-world assets.”

Mantle also noted that the network’s technical architecture, which includes a modular design and zero-knowledge proof-powered scaling, is built to handle the security and scalability demands of traditional finance.

Backed’s xStocks platform has already processed over $1.6 billion in tokenized equity volume. It provides the regulated foundation that Mantle needs to scale its RWA ambitions. Each tokenized share is backed one-to-one by the underlying security and issued through licensed custodians in Switzerland.

Bybit’s role in this ecosystem extends far beyond a simple listing. Earlier this year, Bybit supported the rollout of Mantle’s institutional-grade custody integration with Anchorage Digital, followed by a listing of the $MNT token on Moomoo Exchange to reach U.S. retail investors.