Dubai-based crypto exchange Bybit has launched a new platform that allows retail investors to buy into IPOs at the offer price, with SpaceX as the first listing. The service, called IPO Express, enables users to subscribe to tokenised shares before they begin trading publicly - access that is usually limited to institutional investors.

Built on the xStocks framework, the platform converts IPO allocations into blockchain-based tokens backed one-to-one by shares held in custody. Users can register interest, place subscription orders within a set price range, and receive allocations on listing day if successful. The tokens can then be traded on the exchange.

SpaceX will be the first company offered through the platform, with subscriptions open from June 7 to June 11 and trading expected to begin on June 12.

(Writing by Ahmad Mousa; editing by Seban Scaria)
Ahmad.mousa@lseg.com