Exodus Adds 200+ Tokenized Stocks and ETFs Through Ondo

Exodus has launched a market for tokenized belongings by way of a partnership with Ondo Finance, permitting eligible customers to commerce greater than 200 tokenized shares, ETFs and different real-world belongings on Solana straight from the crypto pockets.

The corporate mentioned Exodus Markets is out there in choose markets and that customers can entry the service by updating to the newest model of the app. Tokenized belongings don’t signify possession of the underlying securities and don’t present shareholder rights, based on the announcement.

Cointelegraph contacted Exodus to find out which jurisdictions are eligible for Exodus Markets however had not acquired a response by the point of publication.

Based in 2015, Exodus is a self-custody crypto pockets supplier. RWA.xyz information reveals tokenized Exodus shares account for greater than $55 million in onchain worth, inserting them among the many largest tokenized equities by market measurement.

High tokenized equities. Supply: RWA.xyz

Ondo Finance is without doubt one of the largest issuers of tokenized real-world belongings. In line with RWA.xyz data, the corporate’s tokenized merchandise maintain about $2.7 billion in belongings, led by its USDY and OUSG Treasury funds.

Associated: TradFi advisers want stablecoins, tokenization over Bitcoin: Bitwise

xStocks leads progress in tokenized equities

The launch comes amid fast progress in tokenized equities. In line with RWA.xyz, the worth of tokenized shares has climbed to $3.5 billion, up greater than 139% over the previous 30 days, whereas the variety of holders has elevated 37% to roughly 357,000.

A lot of that progress has been pushed by xStocks, a tokenization platform backed by Kraken and issued by Backed Finance. Knowledge reveals the corporate accounts for about $2.5 billion in tokenized inventory worth, representing greater than 69% of the sector after rising greater than 500% over the previous month.

Supply: RWA.xyz

Lately, the development has expanded into pre-IPO markets, with crypto exchanges racing to supply tokenized publicity to SpaceX forward of the corporate’s inventory market debut on Friday.

Final week, Kraken introduced that SpaceX would turn out to be the primary firm obtainable by way of its xStocks IPO Access platform, permitting eligible customers to commerce tokenized shares backed 1:1 by the underlying inventory. Days later, Bybit mentioned it could additionally provide SpaceX through xStocks because the inaugural itemizing on its new tokenized fairness platform.

Binance entered the market in Could with a perpetual futures contract tied to SpaceX’s anticipated pre-IPO valuation, whereas Coinbase launched pre-IPO markets in June with a SpaceX-linked perpetual futures product for eligible customers outdoors the USA.

Blockchain.com additionally rolled out a SpaceX-linked perpetual contract this month by way of its OTC desk as a part of a brand new 24/7 institutional buying and selling platform.

SpaceX shares gained round 22% shortly after buying and selling started on Friday, rising from a gap value of $135 to about $164 by noon, based on Yahoo Finance information.

Supply: Yahoo Finance

Nonetheless, Bybit introduced on Friday that subscribers to its SpaceX IPO providing would obtain refunds after xStocks did not safe the underlying shares wanted to meet allocations.