Dubai-based crypto exchange Bybit said on June 7 it launched IPO Express, a product that lets eligible users subscribe to tokenized initial public offerings on the platform.

The offering will debut with a SpaceX-related token powered by xStocks from Payward Services, the parent company of Kraken.

Bybit said registration and subscriptions run from June 7 to June 11, allocations are due from June 11 to June 12, and spot trading is scheduled to begin June 12, though the listing could still be delayed, adjusted, or canceled.

Public criteria showed users must complete KYC Level 1, be VIP or PRO customers, and use main accounts, though Bybit also described access as available to eligible retail investors worldwide.

Payward said xStocks tokens are backed 1:1 by shares held in regulated broker-dealer custody, though public materials did not identify the broker-dealer or custodian.

The launch does not mean SpaceX is conducting or endorsing an IPO through Bybit.

The company remains private. Available materials said buyers get financial exposure but did not specify voting or dividend rights, and regulators have said tokenized securities still fall under existing securities laws.

🔗 Source: Bybit

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