Phemex Integrates Ondo Finance's Tokenized Assets
Cryptocurrency platform Phemex has announced the full integration of Ondo Finance's tokenized stock offerings. The move positions the exchange to offer products based on Real-World Assets (RWA), reflecting a growing trend in the crypto industry.
- The integration provides Phemex's 10 million users with access to 14 of Ondo Finance's tokenized securities. These include tokenized versions of major tech stocks like NVIDIA (NVDAon), Tesla (TSLAon), Apple (AAPLon), and Amazon (AMZNon), as well as ETFs like the SPDR S&P 500 ETF (SPYon) and the Nasdaq 100 ETF (QQQon). - Ondo Finance specializes in tokenizing real-world assets (RWAs), focusing on institutional-grade, regulated securities to bridge traditional finance (TradFi) with decentralized finance (DeFi). This approach differs from many DeFi protocols that focus on crypto-native assets. - Ondo's tokenized U.S. Treasury products, OUSG and USDY, are some of the largest in the market, with the platform holding over $2 billion in total value locked (TVL) across various blockchains as of early 2026. OUSG provides tokenized exposure to a BlackRock short-term U.S. Treasury ETF. - The underlying technology for Ondo's products involves creating ERC-20 tokens on Ethereum, with assets also available on other blockchains like Solana to leverage their high throughput and low transaction costs. This allows for 24/7 trading and faster settlement compared to traditional markets. - To address institutional needs for compliance and stable transaction fees, Ondo is also developing its own Layer 1 blockchain called Ondo Chain. This chain will use a network of permissioned, regulated financial institutions as validators to ensure compliance with financial regulations. - The tokenization process for assets like stocks involves a regulated entity acquiring and holding the actual shares in custody, followed by the 1:1 minting of tokens on a public blockchain, which are then made available for trading on platforms like Phemex. - The broader RWA market, which includes assets like tokenized government bonds, real estate, and private credit, is a rapidly growing sector, with on-chain treasury products processing over $8 billion in a single quarter in late 2025/early 2026. - Phemex, founded in 2019, offers a suite of products beyond spot and derivatives trading, including copy trading and wealth management, positioning this integration as a move to become a hybrid platform for both crypto and tokenized traditional assets.
