Bybit has expanded its xStocks tokenized securities platform with three new AI-focused semiconductor listings: Micron Technology (MU), Coherent Corp (COHR), and Lumentum Holdings (LITE). The addition marks another step in the exchange's push to blend traditional finance instruments with crypto infrastructure.
AI Semiconductor Plays Enter the Crypto Exchange
The three new listings target what analysts consider the most compelling segment of the AI hardware supply chain. Micron, Coherent, and Lumentum all occupy strategic positions in the photonics and memory ecosystem that powers AI data centers.
Lumentum recently posted record fiscal Q2 2026 results with revenue up 65.5% year-over-year to $665.5 million. The company's Optical Circuit Switch backlog exceeds $400 million, with shipments extending into late 2026. Coherent, valued at $33 billion market cap, has delivered nine consecutive quarters of beating both top and bottom line estimates. Micron remains a sector leader in AI memory infrastructure.
All three stocks now trade as tokenized xStocks on Bybit, backed 1:1 by real shares held in custody by Swiss-based Backed.
How xStocks Change the Trading Game
The xStocks platform eliminates several friction points that have historically separated crypto traders from traditional equity markets.
Trading runs 24 hours a day, five days a week, removing the market closure windows that constrain traditional equity sessions. For global users operating across time zones, this means no waiting for the NYSE to open.
Minimum trade sizes start at $10, enabling fractional ownership without the minimums imposed by traditional brokerages. Users do not need to open a separate brokerage account or navigate the regulatory requirements of U.S. securities markets.
Each xStock token represents a 1:1 claim on underlying shares. The issuer holds equivalent shares in custody for every token in circulation, maintaining full backing.
The Solana DeFi Integration
What distinguishes xStocks from other tokenized security offerings is the direct integration with Solana's DeFi ecosystem. Tokenized equities can be traded, swapped, or deployed into liquidity pools on protocols including Raydium, Jupiter, and Kamino.
This opens possibilities beyond simple buy-and-hold. Users can provide liquidity with their tokenized stocks, use them as collateral, or include them in automated trading strategies across DeFi protocols, making them available for self-custody wallet holders.
The integration represents a practical bridge between traditional equity ownership and onchain financial activities. Rather than choosing between stocks and DeFi yields, users can potentially access both simultaneously.
Who Benefits from Tokenized AI Stocks
Three user profiles stand to gain the most from this expansion.
First, non-U.S. investors who want exposure to American AI stocks without navigating U.S. brokerage requirements. The xStocks platform targets users outside the United States specifically, offering easier access to equities that would otherwise require international brokerage accounts.
Second, crypto-native traders who want portfolio diversification without leaving their exchange. Instead of managing separate brokerage and exchange accounts, users can hold both crypto and tokenized equities in one place, including those earning staking rewards.
Third, DeFi power users who want to deploy traditional assets in onchain strategies. The Solana integration creates opportunities for yield generation and liquidity provision that pure equity ownership does not offer.
The Broader TradFi Convergence
Bybit's move follows a pattern across major crypto exchanges. Kraken and Bybit jointly launched over 60 tokenized U.S. stocks through the xStocks platform, and Bybit has announced plans to expand to 500 TradFi trading pairs in Q1 2026, including stock CFDs, forex, commodities, and indices.
The exchange has positioned this expansion as part of its 2026 vision to become "The New Financial Platform," moving beyond a pure crypto exchange into global financial infrastructure.
For crypto card users, especially those maximizing cashback rewards, the integration creates interesting possibilities. Bybit cardholders can now maintain both crypto and tokenized equity positions within the same account, potentially simplifying portfolio management and spending decisions.
Risks and Limitations
The tokenized stock model is not without caveats.
Regulatory status varies by jurisdiction. xStocks are explicitly not offered to U.S. residents, limiting availability to international users only.
Counterparty risk exists through the custody arrangement. While tokens are backed 1:1, users depend on the issuer maintaining proper reserves and custody practices.
Liquidity for individual xStocks may differ from their underlying equity markets. Thinly traded tokens could experience wider spreads or slippage compared to the original stocks.
Tax treatment of tokenized securities remains unclear in many jurisdictions. Users should consult local regulations before trading.
FAQ
What are xStocks? xStocks are tokenized assets backed 1:1 by real shares held in custody. Each token represents ownership of the underlying equity and can be traded on crypto exchanges or used in DeFi protocols.
Can U.S. residents trade xStocks on Bybit? No. The xStocks platform explicitly targets non-U.S. investors. American residents cannot access these tokenized securities through Bybit.
What is the minimum trade size? xStocks can be traded with as little as $10, enabling fractional ownership of high-priced equities.
Are dividends paid on xStocks? This depends on the specific token structure. Users should check Bybit's documentation for dividend policies on individual xStocks.
Can xStocks be used in DeFi? Yes. xStocks integrate with Solana DeFi protocols including Raydium, Jupiter, and Kamino for trading, liquidity provision, and other onchain activities.
Overview
Bybit's addition of Micron, Coherent, and Lumentum to its xStocks platform extends tokenized equity access to three of the most watched AI semiconductor plays. The listings offer non-U.S. crypto users a straightforward path to portfolio diversification, combining 24/5 trading access with Solana DeFi integration. While regulatory and counterparty considerations apply, the expansion represents continued momentum in crypto-TradFi convergence, giving exchange users access to both crypto and traditional assets through a single platform.
Recommended Reading
- Bybit EU Launches 10% Bitcoin Cashback Card
- Bybit Card Launches in Georgia
- CME Group Explores Own Coin for 24/7 Crypto Trading
