As the core of the crypto industry, the strategic direction of crypto exchanges to a large extent represents the overall direction of the entire crypto sector. Think back for a moment: what have exchanges been “competing” on over the past few years? New listing speed, Launchpad, derivatives depth, BTC inscriptions/runes, L2 ecosystem expansion, AI narrative linkage, and so on — almost every one of these has stirred up waves across the industry.
But starting from Q4 2024, a new trend has quietly started to move into the spotlight — “Tokenized US Stocks” are becoming the new battleground among crypto exchanges.
Especially after the U.S. imposed stock trading bans on multiple countries and regions (including Mainland China, Hong Kong, Russia, Nigeria, etc.), more and more investors have been forced to look for alternative paths. Traditional “workaround” methods are cumbersome and high-risk, while the model of “buying U.S. stocks directly with USDT” has begun to spread rapidly across the industry.
As a result, on-chain U.S. stock trading zones have become a new direction for exchange deployment. From tech giants like TSLA, NVDA, and AAPL, to U.S. stock ETFs, and even potential future “on-chain index funds,” all of these are step by step appearing on crypto exchanges.
This time, it’s not just a narrative bubble — it is truly becoming a strategic priority at the exchange level. From Bybit’s stock price-tracking products, Bitget’s simulated exposure products, to SuperEx recently listing over 90 U.S. stock mapped trading pairs in one go, market competition has heated up very quickly.
On-chain U.S. stocks solve one of the biggest bottlenecks the crypto market has faced in the past decade: bringing the most solid, most certain, and most liquid assets from the real financial world directly on-chain.
This means that the product lines of crypto exchanges are no longer limited to “crypto-native assets,” but are beginning to reach into the world’s largest traditional financial market.
Why Have “On-Chain U.S. Stocks” Become the New Focus?
Why are U.S. stock trading zones suddenly becoming a key competition point among exchanges? It feels like this concept became hot almost overnight. Overall, the reasons can be summed up in three points:
1. Large-Scale Bans Have Created Strong Demand for Alternatives
From 2024–2025, U.S. regulators imposed U.S. stock trading restrictions on investors in several countries, with some regions facing outright bans. This directly caused tens of millions of users to suddenly lose access to trading tech stocks like AAPL, TSLA, NVDA on their original platforms.
What now? Naturally, they began to look for options that:
- •Do not require a U.S. brokerage account
- •Do not require USD fiat deposits
- •Are not geographically restricted
- •Do not involve complicated identity checks
On-chain U.S. stock trading zones happen to match these needs perfectly.
2. Crypto Exchanges Need New “Growth Engines”
What kind of reality are exchanges facing today? A few simple examples:
- •Spot trading has been pushed to the limit
- •Derivatives are a fierce red-ocean battleground
- •New listings are constrained by regulation
- •User growth is slowing
Meanwhile, the massive scale of traditional financial markets is the easiest and most directly convertible pool of assets for the crypto world to connect with. Tokenized U.S. stocks can effectively provide:
- •High-frequency trading potential
- •A spot-like trading experience
- •Low barriers to entry
- •Strong liquidity potential
Naturally, this becomes a new track for exchanges.
3. U.S. Blue-Chip Assets Help Investors Diversify Risk
We’ve talked about why exchanges care about U.S. stock zones. Now, from the user’s perspective, U.S. stock trading zones are also extremely attractive.
Crypto users have long been exposed to:
- •High volatility
- •High risk
- •Short project cycles
U.S. stocks are a completely different animal:
Stable, century-old companies like Apple, Microsoft, and Coca-Cola, growth-driven tech stocks with clear financial reports, and backing from the real economy — many crypto investors have always wanted to allocate into U.S. stocks; it’s just that the barriers used to be too high.
Now, the U.S. stock trading zone makes it as simple as: “You can buy U.S. stocks with USDT.”
Which Exchanges Have Already Launched or Piloted U.S. Stock Mapping Products?
To avoid brand controversy or overreach, we’ll focus on three exchanges whose information is relatively transparent and whose models are relatively mature in terms of “U.S. stock mapping products.” The list below focuses on product logic rather than ranking.
Bybit: Partial U.S. Stock Mapped Assets (Good liquidity, but limited coverage)
Bybit started experimenting with “price-mapped assets” in 2023, including:
- •TSLA
- •AAPL
- •NVDA
- •META
and other popular tech stock price index products.
Characteristics:
- •Prices track real U.S. stock movements
- •Tradable with USDT
- •Limited selection of assets
- •Not yet designed for large-scale expansion
Suitable for: Traders who only need price exposure to a few popular tech names.
Trading zone entry: Bybit official website — Tools — TradFi
Bitget: Synthetic U.S. Stock Exposure (Small product set, positioned more for speculation)
On Bitget, you can use USDC to trade these tokenized U.S. stocks on-chain, without needing a traditional brokerage account or a complicated bank setup. Trading hours follow the U.S. stock market (including pre-market, regular, and after-hours), but settlement is done via blockchain, and in some periods, trading is even offered with zero gas fees.
Bitget mainly provides synthetic tokens that simulate U.S. stock prices.
Advantages:
- •Relatively clear compliance direction (using Ondo for custody)
- •USDT-denominated trading
- •Bitget claims support for 100+ U.S. stocks and ETFs
- •Multiple trading sessions (synchronized with U.S. stock market hours)
- •Time-limited campaigns with “0 gas + 0 trading fee”
Disadvantages:
- •Actual tradable symbols are very limited — only 19 popular U.S. stocks
- •Overall feels more like RWA investment products than pure U.S. stock mapping pairs
- •Not very suitable for long-term, stable investment experience
- •More geared toward professional users; higher learning cost
Suitable for: Users who occasionally want to speculate on the short-term moves of individual U.S. stocks.
Trading zone entry: Bitget official website — Derivatives — Stock Contract Trading Pairs
SuperEx: Stock Market (90+ Trading Pairs, All with 0 Fees)
On SuperEx, “U.S. stock trading pairs” are essentially tokenized mappings of U.S. stock price action. These tokens track the real-time price fluctuations of their corresponding U.S. stocks. You can buy and sell these stock-linked assets with USDT just like you would trade any cryptocurrency.
Their nature is not the underlying stock itself, but rather a form of price exposure. What you buy with USDT is a digital asset pegged to the stock price of a company like Appl
Advantages:
- •Extensive coverage: 90+ globally recognized blue chips and popular stock assets
- •0 trading fees: Currently 0 fees; future structure TBD
- •USDT direct trading: No need for fiat or banks
- •Borderless access: Tradable globally without geographic constraints
- •Easy access: Direct entry visible on the homepage
- •Smooth UX: Trading interface is identical to regular spot crypto trading
- •NO-KYC
Trading zone entry: SuperEx official website (www.superex.com) — Stock Market
SuperEx is not the very first crypto platform to experiment with a Stock Market section, but the scale, technical architecture, and “Community-First” model behind this launch make it particularly significant.
By introducing over 90 globally well-known blue chips and popular stock assets, SuperEx is sending a clear signal to the market — the fusion of traditional finance and crypto finance is happening faster than most people expected.
This innovation not only redefines the meaning of “Borderless Finance,” but also opens up a completely new investment dimension for global users.
Are you ready to trade the world’s most famous companies the same way you trade Bitcoin?
