Ondo and xStocks Ignite a Multichain Race for Tokenized Stocks in the World of DeFi

Jakarta, Pintu News – As the popularity of homogenized stocks grows, their adoption is increasingly being driven by decentralized platforms, while centralized exchanges risk being left behind.

Meanwhile, two leading platforms-Ondo Global Markets and xStocks-continue to expand their reach in the multichain ecosystem in a bid to compete for users’ attention.

Tokenized Shares Now Present on Many Blockchains

Throughout 2025, Ondo (ONDO) and xStocks continue to expand the reach of their stock tokens to various blockchain networks.

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Backed Finance first launched xStocks on the Solana (SOL) network. Shortly after, xStocks also arrived on BNB Chain, Tron (TRX), and Ethereum (ETH), while integration to the TON network is currently under development.

Ondo Global Markets is not far behind. The platform debuted on Ethereum in September, then expanded to BNB Chain a month later.

Going forward, Ondo plans to bring more than 100 stocks and ETFs from the US in tokenized form to the Solana network as well as its own blockchain.

The Role of Decentralized Platforms

When centralized exchanges launch tokenized stocks, they tend to pick one blockchain network and stick with it. For example, all xStocks tokens traded on Kraken are issued on the Solana network. But more and more decentralized exchanges (DEXs) are now supporting stock tokens from Ondo and xStocks.

Whenever they launch on a new network, those stock tokens are usually quickly made available on the main DEXs of related ecosystems-such as PancakeSwap on BNB Chain or Jupiter on Solana.

However, the existence of a pool on DEX is not a guarantee that trading will always be possible.

While centralized exchanges usually work with institutional market makers to ensure adequate liquidity, on DEX, the use of automated market makers (AMMs) can cause the liquidity of homogenized stocks to become fragmented.

This is where the role of DEX aggregators becomes important.

For example, on Thursday, December 11, Bitget Wallet integrated Ondo Global Markets on the BNB Chain network, allowing users to access tokenized stocks through a single platform connected with PancakeSwap (CAKE), Uniswap (UNI), or other DEX liquidity sources.

DEX Domination Grows Stronger

In comments to CCN, Bitget Wallet’s CMO, Jamie Elkaleh, stated that decentralized and non-custodial platforms are “gaining ground” as interest in homogenized stocks grows.

According to Elkaleh, the appeal of this platform is not solely due to its ideology or technological sophistication, but rather its ease of access.

In contrast to centralized exchanges, DEXs give “users around the world direct access to tokenized stocks, without regional restrictions or custody requirements,” he explains.

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This means that users in countries or regions where official exchanges cannot list tokenized stocks can still buy and trade these assets through non-custodial interfaces.

Elkaleh also emphasized that this change in user preference is closely related to the characteristics of the tokenized asset itself.

In a decentralized environment, tokenized shares can be moved across blockchains, integrated into DeFi protocols, and remain under the direct control of their owners – an advantage that custodial platforms lack.

This flexibility and portability, he adds, are the main reasons why non-custodial platforms are increasingly being adopted. However, this does not mean that centralized exchanges have lost relevance. Elkaleh admits that their infrastructure is still very important to reach new users and institutional participants.

Even so, the long-term direction of user behavior shows a steady shift towards non-custodial options. As he puts it, “decentralized access points are becoming an increasingly preferred place for users to store and interact with tokenized shares.”

Trading US Stock Tokens on the Door

Imagine being able to buy shares of big companies like Nvidia (NVDAX), Tesla (TSLAX), and Amazon (AMZNX) in tokenized form for just a few thousand dollars. The good news is that you can now buy/sell tokenized US stocks from xStocks and Ondo at Pintu.

By leveraging blockchain technology, you can now enjoy a faster settlement process for tokenized US stocks, more affordable start-up capital, and a more global investment experience.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• CCN. Ondo and xStocks Spark a Multichain Race for Tokenized Stocks in DeFi. Accessed on December 12, 2025

*Featured Image: Bingx