Cryptocurrency exchange MEXC has expanded its tokenized stock offering through a partnership with Ondo Finance, listing a new on-chain representation of US stocks traded with Tether on its platform.
According to the company’s announcement this week, the expansion includes 17 newly listed tokenized stock pairs and seven additional tokens related to U.S. defense and energy companies.
The token will be issued as an ERC-20 asset on Ethereum and traded against the Tether (USDT) pair on exchanges. The underlying shares are held in a regulated trust account and are subject to quarterly third-party audits, and the tokens are designed to represent ownership of the corresponding underlying shares.
The March 3 announcement introduced an additional 17 tokenized stock pairs across sectors such as technology, healthcare, and finance.
Trading fees for the 17 newly listed tokenized stock pairs will be free for the first 30 days. The companies did not name the individual companies included in the batch.
Another release on Wednesday added seven tokenized stocks related to defense and energy companies, including Lockheed Martin (LMT). $RTX ($RTX), ConocoPhillips (COP), and Occidental Petroleum (OXY). Withdrawals for the newly listed tokens are scheduled to begin on March 5th.
This partnership builds on the series of tokenized stock listings that MEXC has introduced with Ondo Finance since its product launch in September 2025. The 17 new pairs are the ninth expansion of this service.
MEXC is a centralized cryptocurrency exchange founded in 2018 that offers spot trading of digital assets and derivatives trading. It is the 9th largest exchange by spot trading volume, according to CoinMarketCap data.
Ondo Finance is a New York-based blockchain company focused on bringing traditional financial assets on-chain through tokenization. As of this writing, assets issued through Ondo have a total tokenized value of approximately $2.66 billion, according to data from RWA.xyz.
sauce: RWA.xyz
Related: Kraken Debuts Tokenized Stock Perpetual Futures for Non-U.S. Traders
Cryptocurrency exchanges move to tokenize assets
The race among crypto exchanges to tokenize stocks is gaining momentum.
In June, more than 60 tokenized stocks became available on exchanges including Kraken and Bybit through Backed Finance’s xStocks product. The lineup included major companies such as Apple, Amazon, Nvidia, Tesla, Meta, and Netflix.
Gemini also entered this space through its partnership with Dinari. The exchange announced in July that customers in the European Union could trade a list of tokenized U.S. stocks, including stocks related to companies such as Exxon, Sony, BlackRock and Visa, on its platform.
Indeed, tokenized stocks remain largely unavailable to US users as the industry awaits clearer regulatory guidelines for blockchain-based securities.
Meanwhile, some exchanges are expanding their reach into traditional stocks through intermediary services. Kraken announced in April that it would begin offering trading in approximately 11,000 U.S.-listed stocks and exchange-traded funds as part of a phased rollout across the United States.
Over the past few months, Coinbase and Bitpanda have also announced stock trading features that allow users to buy and sell stocks along with cryptocurrencies on the same platform.
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