Ondo Global Markets opens US stock and ETF trading to non-US investors

Source Cryptopolitan

Tokenized real-world asset issuer Ondo Finance has launched its tokenized equity platform, Ondo Global Markets. The platform offers non-US investors access to over 100 US stocks and exchange-traded funds (ETFs) 24/7 on Ethereum.

Ondo Global Markets allows users in Asia-Pacific, Europe, Africa, and Latin America to buy and sell tokenized US stocks and ETFs 24hours, five days a week, with the same liquidity as a traditional market.  

The solution exposes the total economic return of US stocks and ETFs, backed and secured by those assets held at one or more US-registered broker-dealers and cash in transit. Besides US investors, the platform excludes retail and institutional participants from the UK. 

Solana and BNB Chain to join the platform later

The Ondo Global Markets platform was previously unveiled in February, designed to offer exposure to securities listed on the NYSE and NASDAQ, including fixed-income ETFs and individual stocks of companies such as Apple, Tesla, and NVDA, now available on Ethereum as of today.

Nathan Allman, founder and CEO of Ondo Finance, said, “We saw stablecoins export the US dollar by bringing it on-chain […]. Now, Ondo Global Markets is doing the same for US securities.”

Ondo said it would add more than 1,000 assets to the list by the end of the year. It also plans to bring the service to Solana and BNB Chain (BNB) with LayerZero-powered interoperability. The platform also offers issuers permissionless integrations to give decision-making power to stakeholders.

At launch, crypto wallets, exchanges, protocols, and infrastructure providers that will support Ondo tokenized stocks are OKX Wallet, Bitget Wallet, Trust Wallet, Gate, BitGo, Ledger, LayerZero, Morpho, and 1inch. Chainlink will be the oracle platform for trusted asset price data.

Other planned mergers ahead for Ondo

Ondo has announced its plans to merge with the startup Block Street, which calls itself a “unified liquidity layer for tokenized stocks” that doesn’t depend on the chain. Block Street wants to provide these assets with institutional-grade liquidity tracks so that “DeFi can borrow, short, and hedge on a large scale.”

According to its website, the system has “two-way markets” that let users borrow tokenized stocks with USDT and borrow USDT against their stocks, such as “AAPLon, NVDAon, and TSLAon.” A statement from the startup says it is a fairly new player, and its testnet has more than 200,000 users. It also says Citadel, Point72, and Jane Street are behind it.

Ondo also announced earlier this year that it would launch its own Layer 1 blockchain, which it calls Ondo Chain. This blockchain is meant to speed up building institutional-grade financial markets on-chain. However, the project hasn’t announced when the tokenized stocks and ETFs will be available on the network.

In July, Ondo and Pantera Capital announced they would put $250 million into real-world asset projects. The plan is meant to better connect the regular financial markets with the digital assets sector.

Several trading platforms and exchanges, including Gemini, Kraken, and a few more crypto exchanges, have added tokenized stocks in the last few months.  As reported by Cryptopolitan, Robinhood also recently expanded into on-chain equities, offering more than 200 tokenized versions of US stocks to EU users on Arbitrum. 

Coinbase and eToro also said they would offer stock trading in token form. However, some offerings drew backlash over potential issues such as limited shareholder rights and fragmented regulations.

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Disclaimer: For information purposes only. Past performance is not indicative of future results.
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