Phemex Integrates Ondo Finance's Tokenized Stocks
Cryptocurrency platform Phemex has completed the full integration of Ondo Finance's tokenized stock offerings. The move positions the platform to expand its involvement with Real-World Assets (RWA). This integration allows for the trading of tokenized versions of traditional financial assets on the crypto exchange.
- The integration provides Phemex's 10 million users with access to 14 of Ondo's tokenized "blue-chip" assets, including shares of NVIDIA (NVDAon), Apple (AAPLon), and Amazon (AMZNon). - Beyond individual stocks, the offering includes tokenized versions of major exchange-traded funds (ETFs) like the SPDR S&P 500 ETF (SPYon) and the Nasdaq 100 ETF (QQQon). - Ondo Finance has established itself as a leader in the tokenized securities space, surpassing $2.5 billion in total value locked (TVL) across its products and capturing over 50% of the market share for tokenized stocks. - The tokenized real-world asset (RWA) market is experiencing significant growth, with the value on the Ethereum network alone surging over 300% year-over-year to exceed $17 billion. - Ondo's tokenized assets are backed 1-to-1 by the underlying securities, which are held by regulated, U.S.-registered broker-dealers, and dividends are automatically reinvested into the tokens. - This move is part of a broader trend of institutional adoption, with Ondo partnering with financial giants like BlackRock for its tokenized U.S. Treasury fund. - Ondo has been expanding its reach across multiple blockchains, recently making over 200 of its tokenized U.S. stocks and ETFs available on the Solana network, in addition to Ethereum and BNB Chain. - The growth in tokenized RWAs has recently outpaced the broader crypto market, indicating a potential shift by investors toward digital assets that offer stable returns and are backed by tangible value.
