Exodus Expands With Ondo to Launch Tokenized Stock Marketplace

Exodus has launched “Exodus Markets,” a new marketplace for trading tokenized real-world assets directly from its self-custody wallet. Through a partnership with Ondo Finance, eligible users can access trading for more than 200 tokenized stocks, ETFs and other real-world assets on Solana, following an app update.

In the company’s announcement, Exodus Markets is described as not granting ownership of the underlying securities and not providing shareholder rights. The firm said availability is limited to select markets, and Cointelegraph reported it had not received a response from Exodus regarding which jurisdictions are eligible by the time the article was published.

Key takeaways

• Exodus Markets brings tokenized stocks, ETFs and other real-world assets into Exodus’ wallet experience on Solana.


• Ondo Finance is the issuer partner behind the initial catalog, covering 200+ tokenized assets.


• No shareholder rights: Exodus says tokenized assets traded on the marketplace do not represent ownership of underlying securities.


• Availability is restricted: Exodus Markets is live only in select markets, though eligible jurisdictions weren’t confirmed at publication.


• Tokenized equities are accelerating, with RWA.xyz data citing rapid growth in total tokenized stock value and holder count.

Inside Exodus’ Solana tokenized asset rollout

Exodus, founded in 2015, is known for its self-custody crypto wallet software. With Exodus Markets, the company is moving beyond a traditional token trading interface by adding exposure to tokenized real-world assets—specifically tokenized equities and similar instruments—settled on Solana.

Exodus said the marketplace is accessible after users update to the latest version of the Exodus app. That matters for investors and active wallet users because it lowers friction: rather than using a separate tokenized asset venue, they can route trades through a single wallet workflow.

At the same time, Exodus’ own framing emphasizes a key legal and structural point: tokenized assets made available via Exodus Markets do not represent ownership of the underlying securities and do not confer shareholder rights. For users, this signals that the products behave more like tokenized claims/representations governed by the issuer’s structure than as direct, conventional equity ownership.

RWA growth continues—xStocks becomes the gravity well

The Exodus launch arrives as tokenized equities continue to expand quickly. According to RWA.xyz data cited by Cointelegraph, tokenized stocks have climbed to $3.5 billion, up more than 139% over the past 30 days. Over the same period, RWA.xyz reported the number of holders increased 37% to roughly 357,000.

The same data points to xStocks as a major driver. RWA.xyz shows xStocks accounts for approximately $2.5 billion in tokenized stock value—more than 69% of the sector—after growing more than 500% over the previous month.

That concentration matters for anyone evaluating tokenized equity adoption: as one platform scales faster than the rest, liquidity, product diversity, and user distribution can become increasingly path-dependent. If xStocks continues to attract issuance and listings, Exodus Markets’ ability to deliver an attractive selection may depend on how much of the tokenized equity “center of gravity” remains concentrated there.

Tokenized pre-IPO momentum—and the first friction signals

Beyond established tokenized stocks, the market has recently broadened into pre-IPO activity. Cointelegraph reported that crypto exchanges have been racing to offer tokenized exposure to SpaceX ahead of the company’s stock debut.

In that wave, Kraken said SpaceX would be the first company available via its xStocks IPO Access platform, while Bybit later announced it would also offer SpaceX through xStocks as the inaugural listing on a new tokenized equity platform. Meanwhile, Binance entered the category in May with perpetual futures tied to SpaceX’s expected pre-IPO valuation, and Coinbase launched pre-IPO markets in June with a SpaceX-linked perpetual futures product for eligible users outside the United States.

Cointelegraph also noted Blockchain.com’s roll-out of a SpaceX-linked perpetual contract through its OTC desk as part of a new 24/7 institutional trading platform.

However, the rollout wasn’t frictionless. Cointelegraph reported that Bybit announced subscribers to its SpaceX IPO offering would receive refunds after xStocks failed to secure the underlying shares needed to fulfill allocations. The episode is a reminder that tokenized pre-IPO products can be constrained by real-world supply and allocation mechanics—an issue tokenized wrappers cannot fully eliminate.

What investors should watch next

With Exodus Markets now live for eligible users, the immediate open questions are regulatory and operational: which jurisdictions are supported, how large the initial catalog becomes over time, and whether the marketplace’s tokenized equity access stays resilient during periods when underlying allocation conditions tighten—as seen in the SpaceX refund episode. Readers tracking the trend should focus on product availability by region and on ongoing issuer/venue coverage as tokenized equities keep scaling.

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