Exodus has launched a market for tokenized property via a partnership with Ondo Finance, permitting eligible customers to commerce greater than 200 tokenized shares, ETFs and different real-world property on Solana straight from the crypto pockets.
The corporate mentioned Exodus Markets is out there in choose markets and that customers can entry the service by updating to the most recent model of the app. Tokenized property don’t characterize possession of the underlying securities and don’t present shareholder rights, in line with the announcement.
Cointelegraph contacted Exodus to find out which jurisdictions are eligible for Exodus Markets however had not acquired a response by the point of publication.
Based in 2015, Exodus is a self-custody crypto pockets supplier. RWA.xyz knowledge exhibits tokenized Exodus shares account for greater than $55 million in onchain worth, putting them among the many largest tokenized equities by market dimension.
High tokenized equities. Supply: RWA.xyz
Ondo Finance is without doubt one of the largest issuers of tokenized real-world property. Based on RWA.xyz knowledge, the corporate’s tokenized merchandise maintain about $2.7 billion in property, led by its USDY and OUSG Treasury funds.
xStocks leads development in tokenized equities
The launch comes amid speedy development in tokenized equities. Based on RWA.xyz, the worth of tokenized shares has climbed to $3.5 billion, up greater than 139% over the previous 30 days, whereas the variety of holders has elevated 37% to roughly 357,000.
A lot of that development has been pushed by xStocks, a tokenization platform backed by Kraken and issued by Backed Finance. Information exhibits the corporate accounts for about $2.5 billion in tokenized inventory worth, representing greater than 69% of the sector after rising greater than 500% over the previous month.
Supply: RWA.xyz
Not too long ago, the development has expanded into pre-IPO markets, with crypto exchanges racing to supply tokenized publicity to SpaceX forward of the corporate’s inventory market debut on Friday.
Final week, Kraken introduced that SpaceX would turn into the primary firm out there via its xStocks IPO Entry platform, permitting eligible customers to commerce tokenized shares backed 1:1 by the underlying inventory. Days later, Bybit mentioned it will additionally provide SpaceX via xStocks because the inaugural itemizing on its new tokenized fairness platform.
Binance entered the market in Could with a perpetual futures contract tied to SpaceX’s anticipated pre-IPO valuation, whereas Coinbase launched pre-IPO markets in June with a SpaceX-linked perpetual futures product for eligible customers outdoors america.
Blockchain.com additionally rolled out a SpaceX-linked perpetual contract this month via its OTC desk as a part of a brand new 24/7 institutional buying and selling platform.
SpaceX shares gained round 22% shortly after buying and selling started on Friday, rising from a gap value of $135 to about $164 by noon, in line with Yahoo Finance knowledge.
Supply: Yahoo Finance
Nonetheless, Bybit introduced on Friday that subscribers to its SpaceX IPO providing would obtain refunds after xStocks didn’t safe the underlying shares wanted to meet allocations.
Supply: Bybit
