Ondo Finance announced the launch of Ondo Global Markets, a platform that lets eligible non-U.S. investors buy and sell tokenized versions of U.S. stocks and ETFs.
The company said trading is available 24/7 on-chain with mint and redeem windows aligned to traditional market hours. More than 100 stocks and ETFs are live at launch, with a plan to scale to over 1,000 by year-end, subject to restrictions. Ondo called it “the largest launch of tokenized equities in history.”
Where it runs and who can use it
Tokenized shares are available today on Ethereum. Support for BNB Chain, Solana, Ondo Chain, and other networks is “coming soon,” according to the team. The platform is not available to U.S. or U.K. retail or institutional users. Eligible investors in APAC, Europe, Africa, and Latin America can access the service, subject to local rules.
How it works
When a user acquires, for example, AAPLon (a tokenized representation of Apple stock), Ondo says its platform buys the underlying AAPL through a U.S.-registered broker-dealer and holds it with a regulated custodian.
The on-chain token is billed as a total return tracker, with dividends reflected in the token’s price and reinvested net of withholding tax. Tokens can be minted or redeemed for stablecoins at the prevailing value during trading hours and transferred peer-to-peer on-chain 24/7.
Ondo states that tokenized stocks are fully backed by U.S. securities and cash in transit, with daily third-party reserve verification. The structure includes a Security Agent with a first-priority security interest over the underlying assets for tokenholders’ benefit and is designed for bankruptcy remoteness, the firm said.
To reduce slippage, Ondo aims to inherit liquidity from the underlying stocks and ETFs on traditional exchanges. Easy mint/redeem is meant to keep token prices aligned with the spot market through arbitrage.
Integrations and tooling
At launch, support spans major wallets, exchanges, and infrastructure providers, including OKX Wallet, Trust Wallet, Bitget Wallet, Gate, BitGo, Ledger, Chainlink, LayerZero, Morpho, 1inch, and others. 1inch said it upgraded its Intent-based Swap API to enable jurisdiction-aware access to these assets. Ondo also highlighted developer APIs for exchanges, robo-advisors, and derivatives protocols.
Tokenized securities are gaining traction across the industry. Kraken and Backed have expanded xStocks to multiple chains, Robinhood is offering on-chain equities to EU users on Arbitrum, and Coinbase is exploring U.S. offerings subject to regulatory approval.
A recent industry analysis cited in the release suggests tokenized assets (excluding stablecoins) could reach $2T in market value by 2030.
