MEXC, a prominent cryptocurrency exchange, announced a trading volume of over 7.1 billion USDT in perpetual futures linked to SpaceX shares following the company's public listing on June 12. This milestone reflects the growing integration between cryptocurrency platforms and traditional equity markets.
Throughout this period, users of MEXC had the opportunity to engage with SpaceX shares at various stages, starting from subscription before the company's public offering to trading futures and acquiring tokenized assets directly on the platform. MEXC successfully conducted two SPACEX(PRE) subscription rounds while SpaceX remained private, raising over 173 million USDT from more than 74,000 participants.
Integration of Traditional and Digital Assets
SpaceX's rapid transition from a private entity to a publicly traded company within a single quarter marks a significant achievement. MEXC facilitated trading at every phase of this transition, exemplifying its role as a versatile platform. The exchange partnered with RealStocks, a service launched on June 1, which allows for orders of actual US shares and ETFs to be routed through a licensed broker, providing investors with dividends instead of mere price exposure. However, details regarding the broker's identity, custody arrangements, and USDT-to-dollar conversion pricing remain undisclosed.
Over 120,000 users registered for the new service within the first month, with 52% of them funding their accounts. As of June 18, MEXC had distributed dividends on 34 different stocks and ETFs. Additionally, stock futures trading contributed significantly to the platform's overall activity. For instance, Micron's earnings report in June led to a 142% surge in trading volume for MU futures, while other major players like SanDisk and SK hynix also saw increased activity.
Vugar Usi, MEXC's new CEO, emphasized that the second quarter substantiated the exchange's potential as a gateway for investors seeking exposure to both cryptocurrencies and traditional equities.
Notably, other exchanges are also expanding their offerings in this space. Binance, for example, launched access to approximately 7,000 US stocks on the same day as RealStocks, partnering with broker-dealer Nest Trading for order placements, while Kraken has focused on tokenized equities through its xStocks brand, achieving over $25 billion in transaction volume in less than eight months. Coinbase has similarly outlined plans to enhance its platform with a multi-asset trading approach.
This material is for informational purposes only and should not be considered financial advice.
