- Phemex added 14 tokenized stocks and ETFs through Ondo.
- The move expands Phemex into real-world asset (RWA) tokenization.
Phemex, a cryptocurrency exchange, has completed its integration with Ondo Finance, which allows its 10 million users to access 14 tokenized stocks and exchange-traded funds (ETFs) directly on the chain. The exchange says that this move is part of its strategy to expand into real-world asset tokenization.
About Phemex
Phemex was founded in 2019, and it offers spot trading, derivative trading, copy trading, and wealth management. The exchange says that it serves more than 10 million traders globally. With this latest integration, the platform is positioning itself as a hybrid platform that combines crypto and traditional finance in digital form.
The tokenized assets include major U.S. stocks and ETFs such as NVIDIA, TESLA, APPLE, AMAZON, and the Nasdaq 100 ETF. These assets are the traditional stocks and funds that have been converted into the blockchain-based token, which can be held and traded like cryptocurrencies.
The tokenized stocks are the digital version of the company shares, which are on the blockchain. With this new integration, users can hold these assets in digital form on the crypto platform. This allows faster access, on-chain trading, and continued liquidity within the crypto ecosystem.
Phemex says that the integration is part of its strategy to connect traditional finance and decentralized finance. The exchange aims to give users exposure to traditional markets without leaving the crypto environment by offering tokenized real-world assets. This move shows that the crypto platforms are expanding into tokenized equities and other financial instruments.
