Recently, crypto exchanges like Bybit and Bitget have started offering TradFi assets such as precious metals, forex, and stocks to attract crypto users to keep trading popular assets on their platforms. Looking into the underlying mechanism, it’s basically all CFDs (Contracts for Difference). The main feature of CFDs is that the platform essentially acts as your counterparty. What’s actually delivered to you is the net profit or loss from the price difference of your trades, rather than the actual stocks or the corresponding physical assets. Previously, Robinhood seemed to have used a similar approach when launching U.S. stock assets in Europe to comply with MiCA regulations.