Dubai, UAE – Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the launch of Bybit IPO Express , becoming one of the first centralized cryptocurrency exchanges globally to offer tokenized initial public offerings (IPOs). Leveraging xStocks technology from Payward Services , qualified retail investors worldwide can now participate in major IPOs by subscribing to tokenized digital representations of publicly listed companies’ shares, with SpaceX being the first offering available through this service.

This launch represents a vital step in the accelerating convergence of traditional capital markets and digital asset-based infrastructure, at a time when trading platforms are competing to expand their services beyond digital asset trading to offer more comprehensive and integrated financial solutions. Bybit IPO Express is designed to provide users with easier and more seamless access to initial public offering (IPO) opportunities, which have historically been largely limited to institutional investors, private banking clients, and select investment brokerage networks.

Bridging the gap in access to initial public offerings

Participation in major initial public offerings (IPOs) has always been subject to limitations related to geographic location, relationships with brokerage firms, share allocation requirements, and the dynamics of institutional demand. As a result, individual investors often find themselves unable to access these opportunities until after the shares have been listed for public trading—that is, after the initial allocation process and price discovery—thus depriving them of benefiting from the early stages of the offering.

By enabling broader investor participation, enhancing liquidity, and migrating underlying assets to the blockchain environment, xStocks ’ regulatory-compliant tokenization solutions expand access to initial public offerings (IPOs) for millions of investors worldwide through global platforms like Paybit. xStocks ’ access to tokenized IPOs complements its popular suite of tokenized equity services, which includes listed shares traded on secondary markets. Through its flexible, blockchain-neutral regulatory framework, designed to support on-chain interoperability , xStocks enables holders of listed tokenized shares to benefit from extended trading hours, integration with decentralized finance (DeFi) applications, greater flexibility, and transaction settlement in a manner consistent with the digital asset environment.

For PayBit users, this marks the first time that cryptocurrency exchange users can purchase shares at the initial public offering (IPO) price directly, rather than having to buy them later in the highly competitive secondary market. The service also allows eligible users to participate in IPOs directly through their PayBit accounts, without geographical restrictions, the need to open and manage traditional brokerage accounts, or the complexities associated with a complex, cross-border financial infrastructure. In doing so, the platform provides a more accessible and efficient pathway to accessing global IPO investment opportunities.

SpaceX (SPCX) Bybit IPO Express timeline  

SpaceX will be the first major company to offer its shares to eligible users through the Bybit IPO Express framework. The key stages of the offering are as follows:

• Registration period (June 7-11, 2026): Prior to the start of the subscription, eligible users can express their non-obligatory interest by registering via the Bybit IPO Express platform and review SpaceX 's offering details.
• Subscription period (June 7-11, 2026): Eligible users can submit subscription requests within the announced price range. Subscription amounts will be reserved until the allocation process is complete.
• Allocation phase (June 11-12, 2026): SpaceX tokens will be distributed to users' Paybit accounts, with allocations calculated using a pro rata system based on the total volume of orders. Any funds not used in the allocation process will be automatically refunded.
• Bybit Spot Listing (June 12, 2026): Tokenized SpaceX shares become available for trading on the Bybit Spot platform, allowing users to buy and sell them on the spot market.

In this context, Emily Pow, Head of Instant Trading at Paybit, said: “Paybit has always been keen to expand the boundaries of what financial platforms can offer, and as one of the first two centralized trading platforms to provide access to SpaceX’s tokenized and regulatory-compliant IPO at the initial offering price, we are marking a new milestone that embodies the ambitious new phase in our journey and reflects our vision for the future of financial services.”

She added: “For decades, the most attractive opportunities in the capital markets were the preserve of investment institutions and investors with extensive networks. Today, through our partnership with xStocks , PayBit customers around the world can invest directly in the initial public offerings of companies listed in the United States, alongside their digital assets, on an equal footing with institutional investors. This is at the heart of our vision to build a new financial platform: combining the best of traditional finance and the world of digital assets into a unified, seamless, and accessible experience for everyone.”

The launch of this service also reflects the growing momentum in the tokenized real assets sector, which is increasingly seen by both digital asset companies and traditional financial institutions as one of the most prominent long-term growth areas for adopting blockchain technologies and expanding their uses in the financial sector.

About SpaceX's IPO and access to IPOs via xStocks

xStocks' tokenized IPO framework is based on high-level corporate compliance standards. On the public listing day, the final allocation processes are completed, and the subscription shares are then converted into fully digital tokens backed 1:1 by real shares held by regulated brokers and custodians.

Terms and conditions apply. For participation rules, eligibility requirements, detailed timelines, and subscription limits, users can visit the page: Introducing SpaceX – The First IPO on Bybit IPO Express .

It should be noted that assets associated with initial public offerings (IPOs) may experience significant price volatility after listing. Therefore, users are advised to carefully assess all associated risks before participating. Listings may also be subject to modification, postponement, or cancellation depending on market conditions or regulatory requirements.

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