Exodus and Ondo team up to bring 200+ tokenized stocks and ETFs to Solana
Exodus Movement has teamed up with Ondo Finance to launch Exodus Markets, a trading service that will put more than 200 tokenized stocks, ETFs and real-world assets on the Solana blockchain — accessible directly through Exodus’s self-custodial wallet app. The partnership was announced June 12 and will be available to eligible users in select jurisdictions.
What’s new
- Exodus Markets expands the Exodus wallet beyond crypto storage and transfers, adding tokenized equity and ETF trading alongside payments, rewards and other financial features.
- The assets are hosted on Solana, and customers can trade and hold tokenized shares within the same wallet interface they already use for crypto.
- Exodus also allows trading of tokenized shares of its own publicly traded company (NYSE American: EXOD), continuing its 2021 move to tokenize its stock.
Why it matters
- Tokenized equities are rapidly growing: RWA.xyz reports tokenized equities reached roughly $5.5 billion in market capitalization as of June 8 — up about 147% from $2.23 billion at the start of the year — making this one of the largest segments of the real-world asset market.
- The integration into a widely used self-custody wallet could accelerate adoption by meeting users where they manage their finances, rather than requiring them to migrate to new platforms.
Leadership and product build-out
- The rollout follows Ondo Finance’s recent hire of John Hoffman, a former Invesco executive, as managing director and head of product portfolios. Hoffman will oversee creation of tokenized investment products and portfolio baskets as Ondo scales its tokenized asset business.
- Ondo CEO Ian De Bode emphasized that integration with existing consumer finance products is key to scaling tokenized markets: “This is how tokenized markets scale, by integrating with the products people already use to manage their money,” he said.
- Exodus CEO and co-founder JP Richardson framed the offering as a step toward a unified asset experience: “For the first time, our customers can trade and hold tokenized equities with the same direct control and global access they expect from crypto,” he said. “Exodus is becoming the front door to every asset you hold, without compromising on trust and control.”
Regulatory and investor-rights considerations
- As tokenized equities gain traction, regulators are paying closer attention. South Korea’s Ministry of Economy and Finance recently said tokenized stocks should be treated as securities if they carry characteristics of traditional securities, which could subject them to existing tax and regulatory regimes.
- In the U.S., the Securities and Exchange Commission has proposed removing two Regulation NMS rules — a move some analysts believe could affect how tokenized stock trading is structured in the future.
- Exodus cautions that tokenized assets available through Exodus Markets are not the same as owning the underlying securities and do not confer shareholder rights. That caveat underscores an important unresolved issue: whether future tokenized stock products should grant the same rights and protections as conventional shares — a question currently under scrutiny by regulators in the U.S. and abroad.
Takeaway
The Exodus–Ondo partnership signals a fast-growing phase for tokenized equities, driven by product integration, institutional hires and expanding market caps. But broader adoption will depend on regulatory clarity and how platforms address the thorny issue of investor rights as digital versions of traditional securities become more mainstream.
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