Phemex Integrates Ondo's Tokenized Assets
Cryptocurrency platform Phemex has announced the full integration of Ondo Finance's tokenized stock offerings. This move places the exchange more deeply into the Real-World Asset (RWA) sector. The integration allows Phemex users to access tokenized versions of traditional financial assets on the platform.
- The integration provides Phemex's 10 million users with access to 14 of Ondo Finance's tokenized "blue-chip" traditional assets. - Available tokenized assets include shares of major tech companies like NVIDIA (NVDAon), Tesla (TSLAon), Apple (AAPLon), and Amazon (AMZNon). - Users can also access tokenized versions of significant financial instruments, such as the Nasdaq 100 ETF (QQQon) and the SPDR S&P 500 ETF (SPYon). - Ondo Finance, founded in 2021, specializes in tokenizing institutional-grade real-world assets, particularly U.S. Treasuries and stocks. - Ondo's tokenized securities are fully backed 1-to-1 by the corresponding assets held at licensed U.S. custodial broker-dealers. - This partnership is part of a broader trend of bridging traditional finance (TradFi) with decentralized finance (Web3) by making real-world assets tradable on the blockchain. - The tokenization of real-world assets aims to increase liquidity, offer fractional ownership, and provide greater accessibility to a wider range of investors. - Ondo Finance has also partnered with other major players in the digital asset space, including Chainlink for data verification and Mastercard to join its Multi-Token Network.
