In the past 72 hours, a pretty startling figure has emerged—over $37.3 million worth of US stock tokens have been minted on-chain.

The source of this recent surge is that a leading exchange’s in-app wallet has officially integrated Ondo Finance’s stock token service. A couple of days ago, the exchange’s co-founder, He Yi, explained in person that this feature was launched in response to strong investment demand from wallet users.

Here’s a quick breakdown of Ondo’s underlying mechanism: tokens are minted on-chain via smart contracts, while the back end connects with brokerages for real-time trade matching to ensure that the on-chain token price stays in sync with the actual NASDAQ stock price. Simply put, it wraps traditional stocks as crypto assets, allowing Web3 users to participate in the US stock market.

The RWA (Real World Asset) sector really seems to be picking up speed—almost $40 million minted in just three days clearly shows the market demand.