Cryptocurrency exchange MEXC has significantly expanded its offering of tokenized U.S. stocks through its partnership with tokenization firm Ondo Finance. This expansion includes 24 new ERC-20 tokens representing equities, with 17 across various sectors and seven specifically from defense and energy companies. The tokens trade against Tether on MEXC, and for a limited time, trading fees for the 17 new pairs will be waived.
Crypto exchange MEXC has expanded its tokenized equities offering through its partnership with Ondo Finance. It listed new onchain representations of U.S. 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 U.S. 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. 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 that 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).
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. According to CoinMarketCap data, MEXC 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. According to RWA.xyz data, assets issued through Ondo total about $2.66 billion in tokenized value. 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, Gemini said customers in the European Union could trade a growing list of tokenized U.S. stocks on its platform. To be sure, tokenized equities remain largely unavailable to U.S. users as the industry awaits clearer regulatory guidance for blockchain-based securities. Several exchanges are expanding into traditional equities through brokerage-style services.
In April, Kraken said it would begin offering trading in about 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 equities alongside cryptocurrencies on the same platforms.
