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Ondo Finance launched Wednesday its tokenized equity level dubbed Ondo Global Markets, offering non-U.S. investors entree to much than 100 U.S. stocks and exchange-traded funds (ETFs) on-chain.
The tokenized equities, archetypal announced successful February, has gone unrecorded connected Ethereum and are backed by securities held astatine U.S.-registered broker-dealers, the steadfast said.
The offering includes crypto token versions of Apple (AAPL), Nvidia (NVDA) and the QQQ ETF among others. Investors successful Asia-Pacific, Europe, Africa and Latin America tin mint and redeem shares astir the timepiece during trading days, with entree to underlying speech liquidity. The work is not disposable for U.S. users.
The tokens are designed to determination freely betwixt wallets, exchanges and decentralized concern (DeFi) protocols. The steadfast has besides partnered with BitGo, Ledger, Chainlink and different infrastructure providers to enactment the rollout.
Ondo said it plans to grow the enactment to much than 1,000 assets by the extremity of this twelvemonth and bring the work to Solana (SOL) and BNB Chain (BNB) with LayerZero-powered interoperability.
"We saw stablecoins export the U.S. dollar by bringing it on-chain," said Nathan Allman, laminitis and CEO of Ondo Finance. "Now, Ondo Global Markets is doing the aforesaid happening for U.S. securities."
The rollout comes arsenic tokenization of real-world assets (RWAs) gains momentum crossed crypto markets, with projects bringing treasuries, backstage recognition and present equities onto blockchains pursuing broader entree and liquidity.
A database of trading platforms and exchanges person introduced tokenized equities successful the past fewer months, including by Robinhood, Gemini, Kraken and respective different crypto exchanges. Coinbase and eToro besides shared plans to connection banal trading successful token form. However, immoderate offerings drew backlash implicit imaginable issues specified arsenic constricted shareholder rights and fragmented regulations.
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