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Ondo Global Markets is Now Live: The Dawn of Wall Street 2.0

Ondo Global Markets is Now Live: The Dawn of Wall Street 2.0

What stablecoins have done for dollars, Ondo is doing for securities.

Today, we’re thrilled to announce that Ondo Global Markets is live—giving non-U.S. investors instant, 24/7 access to tokenized U.S. stocks, ETFs, and other securities with traditional-market liquidity and institutional-grade protections.

Non-U.S. investors can buy and sell tokenized versions of 100+ U.S. stocks and ETFs, with plans to scale to over 1,000 by year-end (subject to jurisdictional and other restrictions). This represents the largest launch of tokenized equities in history.

Ondo tokenized stocks are today available on Ethereum, coming soon to BNB Chain, Solana, Ondo Chain, and more—and are supported by many major wallets, custodians, and exchanges, including Bitget Wallet, Trust Wallet, OKX Wallet, Gate, Chainlink, Blockchain.com, MEXC, LBank, Bitget Global, 1inch, CoW Protocol, Alpaca, LayerZero, Morpho, Gauntlet, BitGo, Fireblocks, Ledger, Zodia, CoinGecko, CoinMarketCap, RWA.xyz, and more.

Key Features

Ondo Global Markets isn't tokenization for tokenization’s sake—it's about combining the best of traditional markets with the benefits of public blockchains to reimagine financial markets. Here's how:

  • Broad Asset Selection: Exposure to more than 100—soon over 1,000—NYSE and NASDAQ-listed securities, from individual equities to fixed-income ETFs.
  • Clear Asset Backing: Ondo tokenized stocks are fully backed and secured by U.S. stocks and ETFs held at one or more U.S.-registered broker-dealers and cash in transit.
  • Instant, Global Availability: Mint, redeem, and transfer instantly, 24/7/365 (transfers anytime, mints/redemptions aligned with market hours for liquidity), from anywhere outside the U.S. (subject to jurisdictional and other restrictions).
  • Inherited Liquidity: No need to recreate markets onchain—Ondo tokenized stocks and ETFs are designed to have the same liquidity as the underlying security, allowing for immediate, low-slippage buying and selling.
  • Seamless Onchain Integration: Use Ondo tokenized stocks and ETFs across DeFi protocols for lending and borrowing.
  • Institutional-Grade Protections: Daily third-party verification of reserves, a structure designed for bankruptcy remoteness, and a Security Agent holding a first-priority security interest in the underlying assets, for the benefit of tokenholders.
  • Developer-Friendly APIs: Empower builders to integrate Ondo Global Markets into wallets, exchanges, and apps, from robo-advisors to perps protocols, enabling exposure to the full suite of Ondo tokenized stocks, ETFs, and more with one integration.

How it Works: Bridging TradFi and Crypto

At a high level, when a user outside the U.S. acquires tokenized AAPL (token symbol AAPLon) via Ondo Global Markets, here’s what happens:

  • The Global Markets platform acquires AAPL through a U.S.-registered broker‑dealer.
  • The underlying AAPL shares are held with a regulated custodian.
  • The user receives a fully backed AAPLon token representing that exposure—instantly.
  • If Apple were to pay a dividend—or if any other corporate action occurred—the price of onAAPL would adjust accordingly. Ondo tokenized stocks are total return trackers, meaning they reflect the full return of owning the underlying AAPL stock, with dividends reinvested (net of applicable withholding tax) into additional shares.
  • Tokens can be minted or redeemed for stablecoins at the prevailing value of the underlying during trading hours (24/5 for applicable securities). Once issued, they can be transferred, combined with other collateral, or deployed into DeFi protocols 24/7/365, subject to applicable restrictions.

(For more detailed information, please visit the Ondo Global Markets support docs.)

How the Ondo Global Markets Model Is Different

As we stated earlier this year, our mission is clear: bring financial markets onchain. As we’ve mentioned before, not all tokenized equities are created equal. With Ondo Global Markets, we’ve spent a lot of time thinking about how best to bring real-world assets like securities onchain in a way that’s practical, secure, liquid, and scalable.

  • Highly Scalable. To bring financial markets onchain, you need a breadth of assets, and you need it quickly. To accelerate our speed to scale, Ondo Global Markets employs a wrapped tokenization model that allows it to quickly scale up the number of tokenized assets on the platform. By year end we expect over hundreds of Ondo tokenized stocks to be available, with thousands more coming soon thereafter.
  • Low Slippage. You also need to ensure that when investors buy and sell those assets at scale, they are not suffering from massive slippage. This means you need the deepest liquidity available. Where is that found? Traditional exchange venues. By designing Global Markets to inherit the liquidity of the underlying asset on traditional exchanges, it keeps slippage on Ondo tokenized stocks and ETFs as low as possible.
  • Minimal Price Dislocation. You also need to ensure that the economics of holding the tokenized asset closely matches that of holding the underlying. The way to do this is to ensure that minting and redeeming the tokenized stock is easy and fast so that arbitrageurs can keep secondary market prices in line. For example, if the price of a tokenized share of AAPLon was $100 on an exchange, but you could buy it directly from the Global Markets platform for $99 (because that was the value of AAPL stock), an arbitrageur would simply buy an AAPLon token from Ondo Global Markets (for $99) and sell it on the exchange (for $100); this additional supply on the exchange would push down the price of the AAPLon token until it was equal to $99. (It’s important to note that, because they don’t have such inherited liquidity or instant mint/redeem features, some other tokenized stock issuers have had these slippage and price dislocation issues. For example, recently we saw one tokenized version of AAPL that incurred 2% slippage at just $195 of depth, and which at one point traded for almost a 15% premium over the underlying equity price.)
  • Transferability & Usability in DeFi. As we’ve talked about previously, we believe one of the biggest benefits of tokenizing assets is making them usable in DeFi and removing them from the “walled gardens” of traditional financial institutions; in our view putting tokenized assets on a blockchain but preventing them from being transferable or usable in DeFi misses some of the primary benefits of blockchain technology. Ondo tokenized stocks don’t have these limitations. We think this is tokenization done right.
  • Institutional-Grade Investor Protections. Finally, as with all Ondo-tokenized products, Ondo Global Markets is built with top-quality investor protections. An independent third‑party Verification Agent reviews asset backing and publishes a report each business day. An independent third-party Security Agent holds a first‑priority security interest in the underlying assets for tokenholders’ benefit, empowering the Security Agent to foreclose on those assets, sell them and distribute proceeds to tokenholders in defined events of default. The underlying backing securities are never lent out without express tokenholder consent. And the list goes on. This helps ensure that investors are protected, and gives institutions the comfort they need to be willing to deploy the large amounts of capital required to truly move financial markets onchain.

Why This Matters

Earlier this year, we laid out our vision for the future of finance; what we called Wall Street 2.0. We described how public blockchains and tokenization could address the deep-seated limitations of traditional financial markets—high costs, fragmentation, limited access, and sluggish settlement—while unlocking unprecedented levels of transparency, efficiency, and inclusivity. We argued that this evolution isn't about tearing down the old system but upgrading its infrastructure, much like the internet revolutionized information flows without discarding the printing press.

At Ondo Finance, we've been at the forefront, building institutional-grade solutions like OUSG for Qualified Purchasers and USDY for broader non-U.S. access. We’ve further enhanced the usefulness of these assets by developing platforms like the Flux Finance protocol and infrastructure like Ondo Bridge and Ondo Nexus. But we knew that true transformation required going further: tokenizing a wide range of public securities to create interoperable, liquid assets that bridge TradFi and DeFi. That's what Ondo Global Markets delivers.

From the early days of Bitcoin and Ethereum, through the rise of stablecoins and yieldcoins like our own OUSG and USDY, we've seen blockchain technology progressively expand access to high-quality financial assets. Now, with Ondo Global Markets, we're extending that access to the heart of global capital markets: the equities and funds that drive wealth creation worldwide. It's Wall Street 2.0 in action—traditional finance upgraded with blockchain's superpowers.

What’s Next

Today’s launch is just the start of this vision for Wall Street 2.0. The upcoming launch of Ondo Chain, an L1 blockchain purpose-built for institutional-grade RWAs, further builds on this vision to unlock even more use cases for Ondo tokenized stocks, as follows (subject to applicable jurisdictional and other restrictions): 

  • Prime Brokerage. Ondo Global Markets will integrate institutional-grade borrowing options directly into its platform. Ondo tokenized stocks will natively be used for margin, sourced in traditional finance or DeFi. Investors will be able to borrow against their tokenized holdings via third party protocols or directly via the Ondo Global Markets platform, and cross-collateralize their positions by tokenized securities as well as crypto. This will allow investors to borrow against tokenized holdings at competitive rates typically accessible only to traditional institutional investors. Buy and sell from broker-dealers obligated to provide best execution, and receive competitive securities lending rates when you loan out your assets.
  • Staking and Collateral. Easily stake tokenized RWAs like Ondo tokenized stocks on Ondo Chain to enhance chain security and receive rewards. Post as collateral for borrowing and other uses.
  • Onchain Wealth Management. Easily build or use onchain asset management strategies, including automatic 24/7 portfolio rebalancing across crypto and tokenized stocks, bonds, and ETFs.
  • Cross-Chain Token Issuance. Issue tokens that are automatically supported on multiple chains. Set conditions that must be met for bridging to take place. Manage and administer the assets seamlessly across chains.
  • Stablecoin Distribution and Yield. Distribute stablecoins secured by tokenized securities across various supported blockchains and easily track minting and yield attribution.
  • Bootstrapping Other Networks and Protocols: Use restaked Ondo Chain RWAs to secure a new chain or protocol while the native token and network matures.

The Future of Finance Starts Today

Ondo Global Markets launches at a pivotal time, just following the passage of the historic GENIUS Act legislation in the U.S. and Ethereum’s 10th anniversary. It’s amazing how far onchain finance has come. But this is only the beginning. We’re continuing to work diligently to expand chains, assets, and integrations, foster partnerships with crypto native and traditional institutions, design and build exciting new products, and engage with global policymakers to ensure the legal and regulatory regimes exist to enable this exciting area we work in. Together, we continue to build a better financial system—one that’s fairer, faster, and more accessible to all.

Onward.

*The Tokens provide their holders with economic exposure to the value of their underlying publicly traded assets, including the value of dividends invested into the underlyings (less applicable tax withholdings). However, the Tokens are not themselves stocks or ETFs, and they do not provide their holders with rights to hold or receive their respective underlying assets.  

Nothing herein constitutes any offer to sell, or any solicitation of an offer to buy, any Tokens. Nothing herein constitutes investing advice. Acquiring Tokens involves risks. A holder of Tokens may incur losses, including total loss of their purchase price. Past performance is not an indication of future results. Neither the Token issuer, nor its members, nor any of their respective affiliates (the “Token Parties”) endorses, none of the Tokens Parties makes any representation or warranty whatsoever (express or implied, including but not limited to any warranty of merchantability, fitness for a particular purpose or non-infringement) regarding, and NONE OF THE TOKEN PARTIES SHALL HAVE ANY LIABILITY WHATSOEVER WITH RESPECT TO ANYONE'S USE OF, any third-party products, services or technologies referenced herein. Additional terms apply. See https://docs.ondo.finance/legal/terms-of-service, https://docs.ondo.finance/ondo-global-markets, https://ondo.finance/global-markets and https://app.ondo.finance for details.

This communication may contain forward-looking statements, including, but not limited to, statements regarding future financial performance, business strategies, or expectations for Ondo Finance's or Ondo Global Markets’ growth and development. These statements are based on management's current expectations, estimates, projections, and beliefs, and are subject to a number of risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated. Forward-looking statements can be identified by the use of terminology such as "may," "will," "should," "expect," "intend," "plan," "anticipate," "believe," "estimate," "predict," "potential," "continue," or the negative of these terms or other similar expressions. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include, but are not limited to, the following: economic, competitive, legal, governmental, and technological factors affecting Ondo Finance's or Ondo Global Markets’ operations, markets, products, services, and prices. Neither Ondo Finance, nor Ondo Global Markets nor any of their respective affiliates undertakes any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.