Phemex Integrates Ondo's Tokenized Securities
What happened
Cryptocurrency platform Phemex has completed the full integration of Ondo Finance's tokenized securities offerings. The move allows Phemex to offer real-world assets (RWAs) on its platform, positioning it to capitalize on the growing trend of tokenizing traditional financial instruments like stocks and bonds.
Why it matters
- The initial launch gives Phemex's 10 million users on-chain access to 14 tokenized traditional assets, including shares of NVIDIA, Tesla, Apple, and Amazon, as well as ETFs that track the Nasdaq 100 and S&P 500. - Ondo Finance, founded in 2021, specializes in creating institutional-grade tokenized products; its offerings are backed by assets from established institutions like BlackRock. - Phemex was founded in 2019 by former Morgan Stanley executives and has grown to serve over 10 million users globally, with significant year-over-year growth in both user numbers and trading volume. - The tokenized securities are backed 1:1 by the underlying assets, which are held with licensed U.S. custodial broker-dealers, ensuring each token corresponds to a real share or ETF unit. - This move taps into the rapidly growing market for Real-World Assets (RWAs), which Boston Consulting Group projects could become a $16 trillion industry by 2030. - For Ondo, this integration is part of a broader expansion strategy that includes launching over 200 tokenized assets on other blockchains like Solana and partnering with major platforms such as Blockchain.com and Binance. - The integration allows Phemex to position itself as a hybrid platform, bridging the gap between traditional finance and decentralized finance by allowing users to trade traditional market products without leaving the crypto ecosystem.
Key numbers
- - The initial launch gives Phemex's 10 million users on-chain access to 14 tokenized traditional assets, including shares of NVIDIA, Tesla, Apple, and Amazon, as well as ETFs that track the Nasdaq 100 and S&P 500.
- Ondo Finance, founded in 2021, specializes in creating institutional-grade tokenized products; its offerings are backed by assets from established institutions like BlackRock.
- Phemex was founded in 2019 by former Morgan Stanley executives and has grown to serve over 10 million users globally, with significant year-over-year growth in both user numbers and trading volume.
- The tokenized securities are backed 1:1 by the underlying assets, which are held with licensed U.S.
What happens next
- The initial launch gives Phemex's 10 million users on-chain access to 14 tokenized traditional assets, including shares of NVIDIA, Tesla, Apple, and Amazon, as well as ETFs that track the Nasdaq 100 and S&P 500.
- This move taps into the rapidly growing market for Real-World Assets (RWAs), which Boston Consulting Group projects could become a $16 trillion industry by 2030.
Quick answers
What happened in Phemex Integrates Ondo's Tokenized Securities?
Cryptocurrency platform Phemex has completed the full integration of Ondo Finance's tokenized securities offerings. The move allows Phemex to offer real-world assets (RWAs) on its platform, positioning it to capitalize on the growing trend of tokenizing traditional financial instruments like stocks and bonds.
Why does Phemex Integrates Ondo's Tokenized Securities matter?
The initial launch gives Phemex's 10 million users on-chain access to 14 tokenized traditional assets, including shares of NVIDIA, Tesla, Apple, and Amazon, as well as ETFs that track the Nasdaq 100 and S&P 500. Ondo Finance, founded in 2021, specializes in creating institutional-grade tokenized products; its offerings are backed by assets from established institutions like BlackRock. Phemex was founded in 2019 by former Morgan Stanley executives and has grown to serve over 10 million users globally, with significant year-over-year growth in both user numbers and trading volume. The tokenized securities are backed 1:1 by the underlying assets, which are held with licensed U.S. custodial broker-dealers, ensuring each token corresponds to a real share or ETF unit. This move taps into the rapidly growing market for Real-World Assets (RWAs), which Boston Consulting Group projects could become a $16 trillion industry by 2030. For Ondo, this integration is part of a broader expansion strategy that includes launching over 200 tokenized assets on other blockchains like Solana and partnering with major platforms such as Blockchain.com and Binance. The integration allows Phemex to position itself as a hybrid platform, bridging the gap between traditional finance and decentralized finance by allowing users to trade traditional market products without leaving the crypto ecosystem.
