Although many projects can achieve the effect of buying stocks in the cryptocurrency circle, Bybit should be one of the first tokenized token exchanges to launch stock spot collateralization, and the focus of this sentence is on "stock spot collateralization". In fact, Bybit has previously launched products that buy stocks through MT5 price difference contracts, as well as earlier SNX synthetic assets to buy stocks. However, these methods are only derivatives that track the price of anchored stocks and do not hold stock spot, so they are not actually related to RWA. This time Bybit is a stock tokenization asset issued through a partnership with Backed @ BackedFi. Backed is a Swiss based institution that complies with the Swiss DLT Act regulatory requirements. It claims that all tokens have 1:1 corresponding assets and are managed by a third party. Backed itself has also received investment from Coinbase. This time, there are a total of 10 stocks on Bybit, including Google, Nvidia, Tesla, Circle, Robinhood, etc. After going on the chain, in addition to directly trading stocks, you can also bring stocks into many Defi gameplay.