Ondo Finance has announced the expansion of its tokenized securities platform, Ondo Global Markets, to BNB Chain. This platform offers non-U.S. investors continuous access to U.S. equities, facilitated by blockchain-based settlement and custody infrastructure.
Ondo Global Markets Growth and Reach
Ondo Global Markets initially launched on Ethereum in September, providing over 100 tokenized U.S. stocks and ETFs on-chain. The platform quickly surpassed $350 million in total value locked within weeks of its launch and has since generated more than $669 million in total on-chain volume.
Strategic Expansion to BNB Chain
Nathan Allman, CEO of Ondo Finance, highlighted that BNB Chain hosts one of the largest and most engaged global user bases in Web3. This expansion aims to make tokenized U.S. stocks and ETFs accessible to millions of users across Asia, Latin America, and other regions within a fast, cost-efficient, and highly interoperable environment.
Company Background and Funding
In 2022, Ondo Finance secured a $20 million Series A funding round, co-led by Peter Thiel's Founders Fund. The company further solidified its position in the tokenized real-world asset sector by conducting a $10 million public token sale later that summer.
Partnerships and Acquisitions
Earlier this year, Ondo Finance collaborated with the Trump-backed World Liberty Financial to promote the adoption of tokenized real-world assets. World Liberty Financial indicated its intention to explore the integration of Ondo's tokenized assets as treasury reserve assets within the WLFI network.
More recently, the company completed acquisitions of U.S.-regulated broker Oasis Pro and blockchain developer Strangelove. These strategic moves are designed to enhance Ondo's capabilities in regulated securities infrastructure and blockchain development.
BNB Chain's Perspective on Real-World Assets
Sarah Song, head of business development at BNB Chain, commented on the growing significance of real-world assets on the network, describing them as one of the fastest-growing segments. She views Ondo Finance's entry into the ecosystem as a strong endorsement of this momentum.
Engagement with Nasdaq's Tokenized Equity Proposal
Earlier this month, Ondo Finance raised questions regarding Nasdaq's proposal to support tokenized equities, seeking further details on settlement procedures. Nasdaq had submitted a rule change request to the SEC in September for tokenized stock versions, arguing that tokenization could be adopted while preserving core investor protections.
Currently, Ondo Finance maintains nearly $1.8 billion in total value locked across its various platforms.