Crypto exchange MEXC has expanded its offering of tokenized stocks through its partnership with Ondo Finance, listing new on-chain representations of US stocks that trade against Tether on its platform.
According to the company’s announcements this week, the expansion includes 17 pairs of newly listed tokenized stocks and seven additional tokens linked to US defense and energy companies.
The tokens are issued as ERC-20 assets on Ethereum and trade for 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 shares.
A March 3 announcement introduced 17 additional tokenized stock pairs covering 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 lot.
A separate release On Wednesday, seven tokenized stocks related to defense and energy companies were added, including Lockheed Martin (LMT), RTX (RTX), ConocoPhillips (COP), and Occidental Petroleum (OXY). Withdrawals of the newly listed tokens are expected to begin on March 5.
The partnership builds on a series of tokenized stock listings that MEXC has introduced with Ondo Finance since the product launched in September 2025. The 17 new pairs constitute 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 datait is the ninth largest exchange in terms of spot trading volume.
Ondo Finance is a New York-based blockchain company focused on bringing traditional financial assets on-chain through tokenization. At the time of writing, assets issued through Ondo total approximately $2.66 billion in token value, according to RWA.xyz. data.
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Crypto exchanges are moving towards asset tokenization
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 via Backed Finance’s xStocks product. The lineup included major companies such as Apple, Amazon, Nvidia, Tesla, Meta and Netflix.
Gemini also has moved in the sector thanks to a partnership with Dinari. In July, the exchange said European Union customers would be able to trade a growing list of U.S. stocks tokenized on its platform, including stocks linked to companies such as Exxon, Sony, BlackRock and Visa.
To be sure, tokenized stocks remain largely inaccessible to US users, as the industry awaits clearer regulatory guidance for blockchain-based securities.
In the meantime, several exchanges are expanding into traditional stocks through brokerage-type services. In April, Kraken announced 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 Bit Panda also announced stock trading features that allow users to buy and sell stocks as well as cryptocurrencies on the same platforms.
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