Tokenized stock providers Ondo and xStocks are expanding across multiple blockchains, creating new DEX pools each time they arrive on a new chain, integrating into a multichain DeFi ecosystem. Centralized exchanges risk falling behind as decentralized platforms lead the adoption of tokenized stocks.

Ondo and xStocks have rolled out their stock tokens on various blockchains, with xStocks launching on Solana initially and expanding to BNB Chain, Tron, and Ethereum. Kraken’s acquisition of Backed Finance has further propelled xStocks’ multi-chain expansion, including a recent launch on TON.

Ondo Global Markets has followed suit, debuting on Ethereum and later moving to the BNB chain. Plans are in place to introduce over 100 tokenized equities on Solana and their proprietary blockchain. Centralized exchanges tend to stick to one chain, unlike the growing number of DEXs listing tokens from Ondo and xStocks.

As stock tokens land on different chains, they quickly appear on major DEXs like PancakeSwap and Jupiter. DEX aggregators like Bitget Wallet integrate platforms like Ondo Global Markets, offering users a single access point to various sources of DEX liquidity. Decentralized, non-custodial platforms are gaining popularity for tokenized stocks due to global accessibility and no custody restrictions.

Ondo and Kraken bridge centralized and decentralized aspects by integrating with new blockchains. The launch of xStocks on TON not only connects tokenized stocks to DEXs but also allows users of Telegram’s custodial exchange to manage assets seamlessly from fiat on-ramp to DeFi opportunities. The multichain race for tokenized stocks in DeFi continues to evolve.

Read more at Yahoo Finance: Ondo and xStocks Spark a Multichain Race for Tokenized Stocks in DeFi