Bybit Announces Onchain Product Suite
Coinbase wants its tokenized stocks to become the building blocks for a broader onchain financial system, from automated portfolios to lending and collateral.
Fiodar Yuzhyk
June 20, 2026
Onchain expansion: On Sunday, centralized exchange Bybit — the world’s second-largest by trading volume — unveiled a new suite of onchain products built on Solana.
CEX goes DEX: At the heart of the rollout is Byreal, a decentralized exchange. According to the announcement, it’s designed as an extension of Bybit’s centralized platform, allowing onchain users to tap into the same deep liquidity and pricing usually only available on Bybit’s centralized exchange.
Hybrid model: To achieve this, Byreal relies not only on traditional DEX liquidity pools, but also on Bybit’s existing network of professional market makers who will be able to fulfill orders on Byreal.
Why it matters: This allows Byreal to offer tighter spreads and better pricing than traditional DEXs that rely solely on liquidity pools. It also gives Bybit users faster access to the long tail of onchain-native assets — from memecoins to, eventually, tokenized stocks — including newly issued tokens that can be traded immediately, without waiting for centralized listings.
More onchain products: Alongside the DEX, Bybit also plans to launch Revive Vault, a product designed to provide enhanced yields for assets like Bybit’s liquid-staked SOL token, bbSOL. A third product, Reset Launch, is set to become Bybit’s native token launchpad, built to prevent token sniping and enable fairer token distribution for new projects.
Road to a super app? Embedded into Bybit’s existing platform, this suite of products enables Bybit to offer its 70 million users access to asset issuance, trading, and yield generation all through one interface.
Next steps: According to Bybit CEO Ben Zhou, Byreal is already set to go live by the end of the month, though no explicit timelines have been provided for the other products.
Bybit’s move accelerates a transition long in motion: According to The Block, the DEX/CEX ratio just hit a record high, with decentralized exchanges now capturing 28% of total trading activity.
One major reason is the surge in onchain-native asset issuance, which was significantly boosted by last year’s memecoin craze. Many of these tokens never touched a CEX — and when they did, the listing often marked the peak of speculative interest, representing a major miss in trading volume (and revenue) for centralized exchanges like Bybit.
No surprise, then, that nearly every major CEX — Binance, Coinbase, Kraken, OKX, Crypto.com, Bitpanda, and soon even players like Robinhood — now has its own DeFi playbook. The interesting part, though, is that while most opted to build their own infrastructure, such as Layer 2s, Bybit is betting solely on the app layer. It remains to be seen how this strategy will play out in comparison.