Exodus Partners with Ondo Finance to Debut Tokenized Stock Platform Featuring Over 200 Onchain Equities
As demand for tokenized equities accelerates, crypto wallets and exchanges compete to provide onchain trading access to traditional stocks and companies preparing for IPOs.
Through a collaboration with Ondo Finance, Exodus has introduced a dedicated marketplace for tokenized assets, giving qualified users the ability to trade over 200 tokenized stocks, ETFs and additional real-world assets built on Solana directly within the cryptocurrency wallet.
According to the company, Exodus Markets has been made available in certain markets, with users able to gain access to the platform by downloading the most recent version of the application. The announcement clarifies that tokenized assets do not constitute ownership of the actual securities and do not grant shareholder rights to holders.
Cointelegraph reached out to Exodus for clarification on which specific jurisdictions have access to Exodus Markets, but the company had not provided a response at the time this article was published.
Established in 2015, Exodus operates as a self-custody cryptocurrency wallet provider. Information from RWA.xyz reveals that tokenized Exodus shares represent over $55 million in onchain value, positioning them as one of the largest tokenized equities measured by market capitalization.
Ondo Finance ranks among the top issuers of tokenized real-world assets globally. Data from RWA.xyz indicates that the firm's tokenized products maintain approximately $2.7 billion in assets, primarily through its USDY and OUSG Treasury funds.
xStocks spearheads expansion in tokenized equities
The marketplace debut arrives during a period of explosive growth within tokenized equities. Data from RWA.xyz shows that the total value of tokenized stocks has surged to $3.5 billion, representing an increase of more than 139% during the previous 30 days, while the total number of holders has expanded by 37% to approximately 357,000.
A significant portion of this expansion has been fueled by xStocks, a tokenization platform supported by Kraken and issued through Backed Finance. Available data indicates the platform represents roughly $2.5 billion in tokenized stock value, constituting over 69% of the entire sector following growth exceeding 500% during the past month.
In recent developments, the trend has extended into pre-IPO markets, as cryptocurrency exchanges compete to provide tokenized access to SpaceX in advance of the company's stock market debut on Friday.
In the previous week, Kraken revealed that SpaceX would serve as the inaugural company offered through its xStocks IPO Access platform, enabling qualified users to trade tokenized shares that are backed 1:1 by the actual stock. Several days afterward, Bybit announced it would similarly offer SpaceX through xStocks as the first listing on its newly launched tokenized equity platform.
Binance made its market entry in May by introducing a perpetual futures contract linked to SpaceX's anticipated pre-IPO valuation, while Coinbase unveiled pre-IPO markets in June featuring a SpaceX-linked perpetual futures product available to qualified users located outside the United States.
Blockchain.com similarly introduced a SpaceX-linked perpetual contract during this month via its OTC desk as a component of a newly launched 24/7 institutional trading platform.
SpaceX shares experienced gains of approximately 22% in the hours following the commencement of trading on Friday, climbing from an initial opening price of $135 to roughly $164 by the midday session, based on data from Yahoo Finance.
