Phemex Crypto Exchange Integrates Ondo's Tokenized Stocks
The cryptocurrency exchange Phemex has announced the full integration of Ondo Finance's suite of tokenized stocks. This move positions the platform to participate in the growth of Real-World Asset (RWA) tokenization. The integration allows users to trade tokenized versions of traditional financial assets on the Phemex platform.
- The integration provides Phemex's 10 million users with access to 14 of Ondo's tokenized "blue-chip" assets. This includes tokenized versions of major technology stocks like NVIDIA (NVDAon), Apple (AAPLon), Tesla (TSLAon), and Amazon (AMZNon). - Beyond individual stocks, the offerings include tokenized versions of major market ETFs such as the SPDR S&P 500 ETF (SPYon) and the Nasdaq 100 ETF (QQQon). - Each token is backed 1-to-1 by the actual security, which is held by regulated broker-dealers, ensuring the token's value tracks the real-world asset. - The tokenization of real-world assets (RWAs) is a rapidly growing sector, with the market value (excluding stablecoins) increasing by 380% in 2023 to reach $24 billion. - Ondo Finance is a major entity in the RWA space; its Ondo Global Markets platform launched in September 2025 and quickly surpassed $556 million in total value locked (TVL) and $8.7 billion in trading volume. - This move is part of a broader trend for Ondo, which has been expanding its tokenized securities to other platforms and blockchains, including Solana and BNB Chain, making over 200 U.S. stocks and ETFs available. - Founded in 2019, Phemex is a global cryptocurrency exchange serving traders in over 150 countries. - The integration is aimed at non-U.S. investors, providing them with blockchain-based access to U.S. equities, which can be transferred and settled more quickly than traditional stocks.
