Ondo Finance launched Wednesday its tokenized fairness platform dubbed Ondo World Markets, providing non-U.S. buyers entry to greater than 100 U.S. shares and exchange-traded funds (ETFs) on-chain.
The tokenized equities, first introduced in February, has gone reside on Ethereum and are backed by securities held at U.S.-registered broker-dealers, the agency stated.
The providing consists of crypto token variations of Apple (AAPL), Nvidia (NVDA) and the QQQ ETF amongst others. Traders in Asia-Pacific, Europe, Africa and Latin America can mint and redeem shares across the clock throughout buying and selling days, with entry to underlying trade liquidity. The service shouldn’t be out there for U.S. customers.
The tokens are designed to maneuver freely between wallets, exchanges and decentralized finance (DeFi) protocols. The agency has additionally partnered with BitGo, Ledger, Chainlink and different infrastructure suppliers to assist the rollout.
Ondo stated it plans to increase the choice to greater than 1,000 property by the top of this yr and convey the service to Solana and BNB Chain (BNB) with LayerZero-powered interoperability.
“We noticed stablecoins export the U.S. greenback by bringing it on-chain,” stated Nathan Allman, founder and CEO of Ondo Finance. “Now, Ondo World Markets is doing the identical factor for U.S. securities.”
The rollout comes as tokenization of real-world property (RWAs) features momentum throughout crypto markets, with tasks bringing treasuries, personal credit score and now equities onto blockchains pursuing broader entry and liquidity.
An inventory of buying and selling platforms and exchanges have launched tokenized equities prior to now few months, together with by Robinhood, Gemini, Kraken and several other different crypto exchanges. Coinbase and eToro additionally shared plans to supply inventory buying and selling in token kind. Nevertheless, some choices drew backlash over potential points corresponding to restricted shareholder rights and fragmented rules.
