Crypto exchange MEXC has broadened its tokenized equity offerings via a partnership with Ondo Finance, adding new on-chain representations of U.S. stocks that trade against Tether (USDT) on the platform.
Company announcements this week said the expansion comprises 17 newly listed tokenized stock pairs plus seven additional tokens tied to U.S. defense and energy firms. The tokens are issued as ERC‑20 assets on Ethereum and trade in USDT pairs. Underlying shares are held in regulated trust accounts, subject to quarterly third‑party audits, and the tokens are intended to represent ownership of the corresponding equities.
A March 3 announcement introduced 17 additional tokenized stock pairs spanning sectors such as technology, healthcare and finance. Trading fees for those 17 pairs will be waived for the first 30 days; the company did not disclose the individual names in that batch. A separate release on Wednesday added seven tokenized equities linked to defense and energy companies, including Lockheed Martin (LMT), RTX (RTX), ConocoPhillips (COP) and Occidental Petroleum (OXY). Withdrawals for the newly listed tokens are scheduled to begin Thursday.
This expansion builds on a series of tokenized equity listings MEXC and Ondo Finance have rolled out since MEXC launched the product in September 2025; the 17 new pairs mark the ninth expansion of the offering.
MEXC, founded in 2018, is a centralized cryptocurrency exchange that provides spot and derivatives trading for digital assets. Per CoinMarketCap data, it ranks among the top exchanges by spot trading volume. Ondo Finance is a New York–based firm focused on bringing traditional financial assets on-chain through tokenization. RWA.xyz data shows assets issued through Ondo total about $2.66 billion in tokenized value.
The move is part of a broader industry push to tokenize stocks. In June, more than 60 tokenized equities became available on exchanges including Kraken and Bybit through Backed Finance’s xStocks product, covering major names such as Apple, Amazon, Nvidia, Tesla, Meta and Netflix. Gemini has also entered the market via a partnership with Dinari, offering a growing list of tokenized U.S. stocks to EU customers, including shares tied to Exxon, Sony, BlackRock and Visa.
Tokenized equities remain largely unavailable to U.S. retail users as the industry awaits clearer regulatory guidance for blockchain‑based securities. Meanwhile, several crypto platforms are expanding into traditional equities through brokerage‑style services. In April, Kraken said it would begin offering trading in roughly 11,000 U.S.-listed stocks and exchange‑traded funds as part of a phased U.S. rollout. Coinbase and Bitpanda have likewise announced stock trading features that let users buy and sell equities alongside cryptocurrencies on the same platforms.
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