Crypto exchange MEXC has expanded its tokenized equities offering through its partnership with Ondo Finance, listing new onchain representations of US stocks that trade against Tether on its platform.
According to company announcements this week, the expansion includes 17 newly listed tokenized stock pairs and seven additional tokens tied to US defense and energy companies.
The tokens are issued as ERC-20 assets on Ethereum and trade against Tether (USDT) pairs on the exchange. The underlying shares are held in regulated trust accounts and subject to quarterly third-party audits, with the tokens designed to represent ownership of the corresponding underlying equities.
A March 3 announcement introduced 17 additional tokenized stock pairs spanning sectors such as technology, healthcare and finance.
Trading fees for the 17 newly listed tokenized stock pairs will be waived for the first 30 days. The companies did not disclose the names of the individual companies included in the batch.
A separate release on Wednesday added seven tokenized equities tied 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 March 5.
The partnership builds on a series of tokenized equity listings MEXC has introduced with Ondo Finance since launching the product in September 2025. The 17 new pairs are the ninth expansion of the offering.
MEXC is a centralized cryptocurrency exchange founded in 2018 and offering spot and derivatives trading for digital assets. According to CoinMarketCap data, it is the ninth-largest exchange by spot trading volume.
Ondo Finance is a New York–based blockchain company that focuses on bringing traditional financial assets onchain through tokenization. At the time of writing, assets issued through Ondo total about $2.66 billion in tokenized value, according to RWA.xyz data.
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Crypto exchanges move to tokenize assets
The race among crypto exchanges to tokenize stocks has been gaining momentum.
In June, more than 60 tokenized equities 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 has also moved into the sector through a partnership with Dinari. In July, the exchange said customers in the European Union could trade a growing list of tokenized US stocks on its platform, including shares tied to companies such as Exxon, Sony, BlackRock and Visa.
To be sure, tokenized equities remain largely unavailable to US users as the industry awaits clearer regulatory guidance for blockchain-based securities.
In the meantime, several exchanges are expanding into traditional equities through brokerage-style services. In April, Kraken said it would begin offering trading in about 11,000 US-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 equities alongside cryptocurrencies on the same platforms.
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