On-chain US stock trading is in progress! Bybit, Ostium, and MYSTONK have launched stock trading functions

Many people predict that the ultimate direction of the blockchain industry will be asset tokenization, especially financial assets. With the booming development of RWA, the government bond tokenization market has entered a white-hot competition, and asset management giants are competing to embrace blockchain technology. Today, assets such as stocks and foreign exchange are also traded in the Web3 world. Recently, whether it's the centralized exchange Bybit, the on-chain derivatives trading platform for stocks and foreign exchange Ostium, or MYSTONK, they have all announced that users can trade US stocks and foreign exchange on their platforms. This article will briefly introduce the mechanisms of these three platforms. Bybit recently announced that its gold foreign exchange trading function now supports the stock market, which means users can also trade US stocks on the Bybit platform. It is understood that Bybit's traditional financial trading function uses the MT5 foreign exchange platform, which was launched by software company MetaQuotes in 2010. Compared to the previous generation MT4, it has added Buy Stop Limit and Sell Stop Limit functions. Currently, Bybit supports 78 stocks including NVIDIA, TSM, TSLA, NVDA, AAPL, AMAZON, COIN, GOOG, MSFT, NFLX, META, MSTR, with a fee of 0.04 USD per share, and a minimum charge of 5 USD per order, currently only supporting USDT deposits. Ostium will tokenize traditional financial products for contract trading. Its investors include former a16z partner, Coinbase CTO Balaji Srinivasan, and Alliance DAO. Outside traditional financial trading hours, only limit orders are allowed, and market orders are not open. When a trader places an order on the platform, it will open a position at the oracle price, with the counterparty being the platform's liquidity buffer. If the buffer is breached, LP will take over. MYSTONK originated from a meme coin that was once retweeted by the official Nasdaq Twitter. After the developer dumped it, it was taken over by the Bruce community of Chinese Americans in the US and transformed into a decentralized exchange. The platform recently announced the launch of US stock trading services and claims to have collaborated with Fidelity, custodying $50 million in stock assets. However, its involvement in securities business raises compliance concerns. These assets cover 95 major stocks, including Apple (AAPL), Amazon (AMZN), Alphabet (GOOGL), META, Microsoft (MSFT), Netflix (NFLX), and NVIDIA (NVDA). Currently, the MYSTONK platform only offers spot trading of tokenized cryptocurrencies and some US stocks, with derivatives not yet launched. Users can purchase stock tokens using stablecoins like USDC or USDT from self-custodial crypto wallets. MyStonks will convert these stablecoins to USD and purchase corresponding stocks through Fidelity. The purchased stocks will be 1:1 mapped to ERC-20 tokens (such as AAPL.M) and minted on the Base blockchain. Users can redeem tokens for stablecoins at any time, with MyStonks burning the corresponding tokens and selling the stocks. Token prices are synchronized with the market in real-time using Chainlink oracles. According to INV analysis, the US and China recently reached a temporary tariff agreement, with the US stock market slightly rising. Many still worry about potential future trade war developments. However, the newly signed US-China agreement has led Barclays Bank to cancel its warning about a US economic recession this year. Investors are turning their attention to the upcoming consumer confidence survey, which has significantly declined in recent months due to tariff-related concerns.

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US Stock Indices Slightly Rise

US stock indices rose on Friday. As of 06:39 Eastern Time (10:39 GMT), Dow Jones futures rose 152 points, up 0.4%, S&P 500 futures rose 16 points, up 0.3%, and Nasdaq 100 futures rose 50 points, up 0.2%.

Wall Street's main indices fluctuated on Thursday, with investors still concerned that the US-China trade truce may not completely eliminate worries caused by Trump's aggressive tariff policies. Walmart stated that increased US tariffs would force them to raise prices in the coming weeks. Some analysts suggest other companies may soon follow suit in raising prices. The market is assessing a batch of new economic data showing unexpectedly cooled producer prices and weak core retail sales.

ING's Chief International Economist James Knightley wrote in a report to clients that April retail sales showed that after the spending surge in March, businesses' preemptive purchasing to cope with tariff-related price increases quickly dissipated. The Producer Price Index's low performance indicates that companies will not absorb high costs for too long.

Economists Pay Attention to University of Michigan Consumer Confidence Survey Report

Economists are focusing on the University of Michigan Consumer Confidence Survey. Experts predict that after declining in April, May's data will slightly rebound. Against the backdrop of heightened tariff concerns, the survey shows that household optimism has declined in recent months, with expectations of rising inflation pressures. Nevertheless, there is still debate about how much these "soft data" actually reflect the real economic situation.

Barclays Cancels Warning About US Economic Recession

In a report released late Thursday, Barclays Bank said that the trade agreement between Washington and Beijing has prompted the bank to upgrade its US economic growth forecast and predict that the US will not fall into a recession. The institution currently estimates that the US economy will grow by 0.5% this year and 1.6% next year, higher than the previous forecast of -0.3% and 1.5%.

The reduction in uncertainty and improvement in economic background have also prompted Barclays to upgrade its Eurozone growth expectations. Currently, Barclays predicts economic growth will remain flat this year, compared to the previous forecast of a 0.2% contraction.

Barclays still anticipates a technical recession in the Eurozone in the second half of 2025, but the economic growth contraction will be less than previously predicted. Barclays stated in a report that overall, it remains pessimistic about the Eurozone's growth prospects due to high uncertainty and the fact that reciprocal tariff negotiations between the EU and the US remain at a technical level with no signs of progress.