Abstract: A hybrid binary executable under both native processes and compatibility (e.g., emulated) processes. When the hybrid binary is loaded by a native process, the process executes a native code stream contained in the binary directly on a processor. When the hybrid binary is loaded by a compatibility process, the process executes an emulation-compatible (EC) code stream directly on a processor. When executing in a compatibility process, the EC code stream can interact with a foreign code stream that executes in an emulator. The foreign code stream can be included in the hybrid binary itself, or can be external to the hybrid binary. The hybrid binary format supports folding of code between the native code stream and the EC code stream. The hybrid binary comprises a set of memory transformations which are applied to image data obtained from the binary when the hybrid binary executes under the compatibility process.