Binance Revives Tokenized Stock Trading Through Ondo Finance Deal

The tokenization of real-world assets, or RWAs, is a major trend bridging traditional finance and Web3. Ondo Finance, a leading name in the sector, has long focused on tokenizing high-quality assets such as U.S. Treasuries. Because traditional securities trading depends heavily on central depositories, the ability to connect tokenized assets with established clearing systems while safeguarding legal rights has become a key dividing line for large institutional investors considering entry into the market.

Ondo Finance announced on July 15, 2026, the launch of what it called the first tokenized stocks backed by entitlements at the U.S. Depository Trust Company, initially supporting Circle shares and an S&P 500 ETF. The project connects the tokenized securities to the established depository system through U.S. broker Alpaca Markets. The compliance breakthrough sent the ONDO token up 17% within 24 hours.

Tokenized securities record interests in traditional assets on a blockchain. In January 2026, the U.S. Securities and Exchange Commission outlined a third-party custody model under which the underlying securities remain within the regulated custody chain. Ondo Finance's initiative brings a model commonly used offshore into the existing U.S. framework. Its overseas platform already holds more than $1 billion in assets spanning over 430 stocks and ETFs.

On July 2, 2026, Ondo Finance launched 1:1 tokenized interests in BlackRock's iShares Core S&P 500 ETF (IVV) and Micron Technology (MU) shares on Ethereum. SEC-registered transfer agent Oasis Pro TA handles minting, while Broadridge provides voting, disclosures and shareholder communications. The products are not currently available to U.S. investors.

Blockchain.com has partnered with Ondo Finance to offer traditional stocks and ETFs as onchain tokens, giving investors access to U.S. equities through a cryptocurrency platform. The tokenized securities market continues to grow, while the U.S. SEC's review of potentially easing some DeFi rules has drawn greater attention to the development of cross-border, round-the-clock trading.

As of July 20, 2026, Blockchain.com had added 173 tokenized stocks and ETFs, taking the total number of related assets on its platform to more than 430. The new products include a SpaceX token and investment baskets focused on themes such as AI infrastructure. The companies also expect that the SEC's repeal of certain rules would further lower barriers to trading U.S. stocks on DeFi platforms.

Exodus is a self-custody crypto wallet provider founded in 2015, while Ondo Finance specializes in real-world asset tokenization and has about $2.7 billion in assets across its products. Their move to bring traditional stocks and exchange-traded funds onto Solana reflects growing competition among wallet providers to become gateways to onchain securities. It also highlights the distinction between tokens and actual equity ownership.

The companies launched Exodus Markets on June 12, 2026. After updating to the latest version of the app, eligible users in select markets could trade more than 200 tokenized stocks, ETFs and other real-world assets directly within the wallet. Tokenized stocks had a market capitalization of about $3.5 billion at the time, up more than 139% over 30 days. The tokens, however, did not represent ownership of the underlying securities and carried no shareholder rights.

Tokenized stocks represent interests in US equities as blockchain tokens, allowing investors to gain exposure to traditional assets through cryptocurrency exchanges. MEXC and Ondo Finance began offering the products in September 2025. The tokens use Ethereum’s ERC-20 standard, while the underlying shares are held in regulated trust accounts and audited quarterly. Ondo had issued about $2.66 billion in assets at the time of reporting.

On March 3, 2026, MEXC announced its ninth batch of listings, adding 17 spot trading pairs spanning technology, healthcare and finance, with zero trading fees for the first 30 days. On March 4, it listed another seven tokenized defense and energy stocks, including Lockheed Martin, RTX, ConocoPhillips and Occidental Petroleum. Withdrawals opened on March 5.

Ondo Finance packages U.S. stocks and ETFs as equity-linked notes and puts them onchain, a form of real-world asset (RWA) tokenization that gives investors access to traditional securities through crypto platforms. Binance halted its stock token service in 2021 amid regulatory pressure in the UK and Germany. As it returns to the sector, the global tokenized stock market has surpassed $1 billion.

On February 24, 2026, Binance listed 10 Ondo tokenized stocks, ETFs and commodity-linked products on its Alpha platform, including Apple, Nvidia and Invesco QQQ. The products are not available to U.S. users. On March 3, the Financial Services Regulatory Authority of Abu Dhabi Global Market approved them for trading on Binance’s regulated market. Ondo has recorded more than $11 billion in cumulative trading volume and over $600 million in total value locked.