Bybit lets eligible global users buy over 1,000 US stocks with USDC, held in custody by Alpaca
Bybit has opened more than 1,000 US stocks and ETFs to eligible global users, payable in USDC, with Alpaca clearing and holding the shares. That sets the exchange against brokerages for USDC balances, a step past the tokenized equities it already sells.
The Investor · Invest desk
Three figures: Bybit says it serves more than 80 million users worldwide; Bybit said it would charge zero commissions on eligible stock purchases and sales; a 24/5 schedule allows at most 120 of the 168 hours in a week for trading.
| Figure | Value | Note | Claim |
|---|---|---|---|
| Users Bybit says it serves, over | 80,000,000 users | 10 | |
| Commissions, eligible stock trades | 0 commissions | as Bybit said it would charge | 4 |
| Tradable hours a week, at most | 120 of 168 hours | under a 24/5 schedule | 17 |
What happened
- Unlike synthetic products or derivatives that track stock prices, the service gives eligible customers an economic interest in the securities they buy.
- Bybit said it would charge zero commissions on eligible purchases and sales, with fractional shares available on eligible securities.
- Trading runs 24/5 across US premarket, regular and after-hours sessions, though availability may vary by security.
- Cash dividends are converted from dollars into USDC and credited to customers' Unified Trading Accounts, while stock dividends and splits show up directly in holdings.
- Bybit Stocks is provided by Infra Capital Limited, an introducing broker regulated in Mauritius, with Alpaca Securities LLC, a FINRA and SIPC member, doing the clearing.
Why it matters
- What it limits constraint Voting rights are deferred to a later phase and some corporate actions may be restricted at launch, so holders cannot yet act on the shares as a direct owner could.
- Who's exposed exposure A buyer's claim runs through three entities, Bybit, Infra Capital in Mauritius and Alpaca in the US, so recourse in a dispute depends on which one owes what.
- What's now possible capability A trader can manage US equity in the same exchange account as crypto positions, so moving between the two needs no outside brokerage.
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Bybit's earlier equity products were tokenized. It already offers tokenized equities [10], and one of its earlier products gave exposure to SpaceX through IPO Express [11]. The new service is built differently. Alpaca executes, clears and holds the shares [2], so calling it tokenized equity access would misdescribe it on the terms of the October 12 announcement shared with crypto.news [15].
The hours are the first limit a USDC holder meets. Trading runs 24/5 [5], which is at best 120 of the 168 hours in a week, about 71%, and leaves a weekend of up to 48 hours with the stock side shut [17].
Commissions are zero [4]. The announcement did not say how Bybit earns on a service with no commission across 1,000-plus securities [1]. In our view the currency conversions are the likeliest place for a fee: cash dividends move from dollars into USDC before they reach a customer's account [7], and a purchase paid in USDC has to become dollars somewhere on the way to a US clearing firm.
It could go three ways. The service could stay a convenience for existing Bybit traders who want an index fund such as the Invesco QQQ ETF in the same account [13], and compete with nobody. It could pull new accounts away from brokerages in the same jurisdictions, with the more than 80 million users Bybit cites as the funnel [10]. Or the permitted-jurisdiction and KYC requirements [14] could keep the eligible group small enough that neither happens.
We think the second is what Bybit is building for. It left custody and clearing with Alpaca [2] and kept the customer relationship, since users trade from their Bybit accounts [1]. Ben Zhou, the co-founder and CEO, described the launch in broader terms. "Financial markets have long been separated across different products and platforms, but users increasingly expect a more connected experience," Zhou said [12].
We would be wrong if stock balances stay small against the 80 million users, or if the funded accounts turn out to be almost entirely traders who already used Bybit's crypto products.
What to watch
- Any disclosure of stock trading volume or funded stock accounts set against the 80 million users Bybit cites.
- The launch of the voting-rights phase, and whether the launch-day corporate-action restrictions are lifted.
- Whether Bybit publishes a fee or spread for the USDC-to-dollar conversions, or a list of the permitted jurisdictions.
Information, not investment advice. This story is general information about companies and markets, drawn from cited reporting. It is not a recommendation to buy, sell or hold any security; check the cited sources before acting.
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Reality
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- [1]
Bybit launched trading in more than 1,000 US stocks and ETFs for eligible global users, who can buy with USDC directly from their exchange accounts.
- [2]
Alpaca handles execution, clearing and custody of the securities; orders are routed through Bybit's brokerage infrastructure and executed by Alpaca.
- [3]
Alpaca Securities LLC, operating as Alpaca Clearing, is a FINRA and SIPC member and a US self-clearing broker-dealer.
- [4]
Bybit said it would charge zero commissions on eligible stock purchases and sales, and fractional shares are available for eligible securities.
- [5]
Trading is available 24/5, covering US premarket, regular and after-hours sessions, although availability may vary by security.
- [6]
Unlike synthetic products or derivatives that track stock prices, the service gives eligible customers an economic interest in the securities they purchase.
- [7]
Cash dividends are converted from US dollars into USDC before being credited to customers' Unified Trading Accounts; stock dividends and splits are reflected directly in holdings.
- [8]
Certain corporate actions may face restrictions at launch, while shareholder voting rights are planned for a future phase.
- [9]
Bybit Stocks is provided by Infra Capital Limited, an introducing broker regulated by the Financial Services Commission of Mauritius; Alpaca Securities LLC provides US clearing, settlement and custody.
- [10]
Bybit says it serves more than 80 million users worldwide and already offers crypto spot and derivatives trading, MetaTrader 5 market access, tokenized equities and TradFi perpetual contracts.
- [11]
Bybit previously introduced tokenized equity products through its IPO Express service, including exposure to SpaceX.
- [12]
"Financial markets have long been separated across different products and platforms, but users increasingly expect a more connected experience," Zhou said.
- [13]
The service covers companies including Apple, Nvidia, Tesla and Micron Technology, along with funds such as the Invesco QQQ ETF.
- [14]
Access is limited to users in permitted jurisdictions who have completed the required Know Your Customer verification.
- [15]
The details come from an October 12 announcement shared with crypto.news.
- [16]
Users can manage their equity holdings alongside cryptocurrency positions within the exchange's ecosystem.
- [17]
At most 120 of the 168 hours in a week (about 71%) are tradable under a 24/5 schedule, leaving up to 48 hours closed.
Sources
2 independent publishers whose own reporting we read for this story.
- crypto.newsBybit launches US stock trading with access to over 1,000 stocks and ETFs
1 article · October 12, 2026
- news.bitcoin.comBybit Brings 1,000+ US Stocks and ETFs Into Crypto Trading Accounts
1 article · October 12, 2026