Ondo debuts over 100 tokenized US stocks and ETFs on Ethereum, with BNB Chain and Solana support to follow

Tokenized real-world asset issuer Ondo Finance and the Ondo Foundation have launched 24/7 onchain access to more than 100 U.S. stocks and ETFs.

The project’s Ondo Global Markets platform is available to eligible Asia-Pacific, European, African, and Latin American investors, with plans to scale to over 1,000 assets by year-end, according to a statement shared with The Block.

Ondo Global Markets enables users to mint and redeem tokenized U.S. stocks and ETFs, 24 hours a day, five days a week, with access to traditional exchange liquidity. The solution provides exposure to the total economic return of U.S. stocks and ETFs, backed and secured by those assets held at one or more U.S.-registered broker-dealers and cash in transit. While the platform itself excludes U.S. and UK retail and institutional participants, the tokenized stocks and ETFs are transferable peer-to-peer onchain 24/7.

“Many tokenized stock offerings today remain confined to siloed platforms with restricted transferability, or suffer from low liquidity,” the project said. “Ondo takes a different path: Global Markets is designed for accessibility, giving investors the ability to transfer tokenized equities across wallets, exchanges, and protocols, while providing seamless onchain access to robust traditional exchange liquidity across hundreds of stocks.”

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 and Tesla, now available on Ethereum as of Wednesday. Blockchain support is set to expand to BNB Chain and Solana “soon,” the project said, with interoperability powered by LayerZero.

The platform is also said to offer issuers permissionless integrations to give decision-making power to stakeholders.

“Ondo Global Markets is a breakthrough in financial access,” Ondo Finance founder and CEO Nathan Allman said. “Global investors can now access the largest selection of transferable tokenized U.S. stocks and ETFs onchain. We saw stablecoins export the U.S. dollar by bringing it onchain. Now, Ondo Global Markets is doing the same thing for U.S. securities.”

Ondo tokenized stocks are supported by leading crypto wallets, exchanges, protocols, and infrastructure providers at launch, including OKX Wallet, Bitget Wallet, Trust Wallet, Gate, BitGo, Ledger, LayerZero, Morpho, and 1inch, with Chainlink serving as the oracle platform for trusted asset price data.

1inch, for example, has upgraded its Swap API to enable access to these tokenized real-world assets through its dapp, wallet, and partner platforms in eligible jurisdictions. “By upgrading the 1inch Intent-based Swap API, we’re now enabling efficient, jurisdiction-aware access to tokenized assets through the 1inch ecosystem, helping reduce barriers and expand access where permitted,” 1inch co-founder Sergej Kunz said in a separate statement.

“The 1inch Swap API plays an important role in powering Ondo Global Markets by enabling efficient onchain execution for our tokenized assets, helping us deliver deep liquidity and competitive pricing,” Ondo Finance Chief Strategy Officer Ian De Bode said.

Expanding tokenized security solutions

According to an announcement on Wednesday, Ondo is also integrating with the startup Block Street, which calls itself a chain-agnostic “unified liquidity layer for tokenized stocks.” Block Street aims to offer institutional-grade liquidity rails for these assets, “bringing borrowing, shorting, and hedging at scale to DeFi.”

The system uses “two-way markets” that enable users to borrow tokenized stocks using USDT and borrow USDT against their stocks like “AAPLon, NVDAon, and TSLAon,” according to its website. The startup is a relatively recent player, according to its statement, with its testnet attracting more than 200,000 users. It also cites Citadel, Point72, and Jane Street as backers.

Ondo is not the only crypto project launching tokenized security solutions, with Kraken and Backed recently expanding xStocks support to BNB Chain, Tron, and Ethereum alongside Solana, including AAPLx, TSLAx, SPYx, and NVDAx. Currently, xStocks are available for trading on Kraken 24 hours a day, five days a week, extending access beyond traditional market hours, and weekend trading is planned for the future. However, when withdrawn to a self-custodied wallet, xStocks can be traded onchain at any time. Bybit and Gate have also launched support for xStocks.

Furthermore, Robinhood also recently expanded into onchain equities, offering more than 200 tokenized versions of U.S. stocks to EU users on Arbitrum. Meanwhile, Coinbase is seeking SEC approval to bring tokenized stocks stateside.

“Tokenized financial assets are moving from pilot to at-scale deployment. Adoption is not yet widespread, but financial institutions with blockchain capabilities in place will have a strategic advantage,” according to a recent McKinsey report cited by Block Street, which estimates that, even excluding stablecoins, the total tokenized market cap could reach $2 trillion by 2030.

Earlier this year, Ondo announced the launch of its own Layer 1 blockchain called Ondo Chain, which is designed to accelerate the creation of institutional-grade financial markets onchain. However, the project has not outlined any plans to launch the tokenized stocks and ETFs on the network as yet.

In July, Ondo and Pantera Capital unveiled plans to invest $250 million in real-world asset projects, hoping to bring traditional financial markets and the digital assets sector more closely together.

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