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Layer 2 network Mantle has announced a significant integration with Backed Finance, bringing Backed's substantial tokenized equity franchise, xStocks, onto its platform. This strategic move aims to expand Mantle's on-chain asset offerings and solidify its position as a leading hub for real-world assets (RWAs).
Key Takeaways
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Mantle integrates Backed's xStocks, featuring tokenized equities like Apple, Nvidia, and MicroStrategy.
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The partnership with Bybit facilitates direct CEX-to-chain deposits and withdrawals, enhancing liquidity and user accessibility.
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This integration marks a major step for Mantle in becoming a high-performance distribution and liquidity layer for RWAs.
Expanding On-Chain Asset Accessibility
Mantle has partnered with crypto exchange Bybit and issuance specialist Backed Finance to incorporate Backed's xStocks tokenized equity products directly into the Mantle ecosystem. This integration will make flagship tokens representing major stocks, such as Apple (AAPLx), Nvidia (NVDAx), and MicroStrategy (MSTRx), natively available on the Mantle network.
A crucial aspect of this partnership is Bybit's commitment to provide full centralized exchange (CEX) support from the outset. This enables seamless deposits and withdrawals of these tokenized assets directly to and from the Mantle chain, which is vital for improving user onboarding and ensuring robust liquidity flow.
Mantle's Vision for On-Chain Capital Markets
Mantle views this integration as a pivotal milestone in its evolution into what it describes as a "high-performance distribution and liquidity layer for real-world assets." The network's technical architecture, designed with a modular approach and leveraging zero-knowledge proofs for scaling, is built to meet the stringent security and scalability requirements of traditional finance.
Backed's xStocks platform has already facilitated over $1.6 billion in tokenized equity volume. The platform provides a regulated framework, with each tokenized share backed one-to-one by the underlying security and issued through licensed custodians in Switzerland. This regulated foundation is essential for Mantle's expansion into RWAs.
Bybit's involvement extends beyond simple listings. The exchange has previously supported Mantle's institutional-grade custody integration with Anchorage Digital and facilitated the listing of the $MNT token on Moomoo Exchange, broadening its reach to U.S. retail investors. This collaboration underscores a shared commitment to bridging traditional and digital finance.
Sources
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