Crypto exchange MEXC has expanded its tokenized stock offering through its partnership with Ondo Finance and listed new US stock representations that will trade against Tether on its platform.
According to company announcements this week, the expansion includes 17 newly registered stock pairs and seven additional tokens related to US defense and energy companies.
Tokens are issued as ERC-20 assets on Ethereum and traded against Tether (USDT) pairs on the exchange. Principal Shares are held in regulated trust accounts and are audited quarterly by third parties, and tokens are intended to represent ownership of the respective Principal Shares.
The announcement on March 3 introduced 17 additional tokenized pairs covering sectors such as technology, healthcare, and finance.
Trading fees for 17 newly registered stock pairs are waived in the first 30 days. The companies did not disclose the names of the individual companies included in this group.
A separate release on Wednesday added seven tokenized stocks related to defense and energy companies, including Lockheed Martin ( LMT ), RTX ( RTX ), ConocoPhillips ( COP ) and Occidental Petroleum ( OXY ). The withdrawal of the newly listed tokens is scheduled to begin on March 5.
The partnership is based on a series of tokenized equity listings that MEXC introduced with Ondo Finance after the launch of the product in September 2025. The 17 new pairs are the ninth expansion of the offer.
MEXC is a centralized cryptocurrency exchange founded in 2018 that offers spot and derivative trading of digital assets. According to CoinMarketCap, it is the ninth largest exchange by spot trading volume.
Ondo Finance is a New York-based blockchain company focused on bringing traditional financial assets to market through tokenization. According to RWA.xyz, at the time of writing, the assets issued through Ondo are about $2.66 billion in tokenized value.
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Crypto exchanges are moving to show assets
The race between crypto exchanges to list shares is gaining momentum.
In June, more than 60 tokenized stocks became available on exchanges, including Kraken and Bybit, through the xStocks Backed Finance product. These include major companies such as Apple, Amazon, Nvidia, Tesla, Meta and Netflix.
Gemini has also moved into this industry by partnering with Dinari. In July, the exchange said customers in the European Union could trade a growing list of US stocks on its platform, including stocks linked to companies such as Exxon, Sony, BlackRock and Visa.
Rest assured that tokenized shares will remain largely inaccessible to US users as the industry awaits clearer regulatory guidance for blockchain-based securities.
Meanwhile, several exchanges are turning to traditional stocks through brokerage-style services. In April, Kraken said it would begin trading about 11,000 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 stocks alongside cryptocurrencies on the same platforms.
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