Mentioned:
TSLA -6.57% META -5.57% MSFT -2.66% HOOD -6.63%
Some of the largest stocks and ETFs in North America are now being tokenized and traded on the blockchain. And Ondo Finance is behind it.
What’s happening:
- Ondo Finance has officially launched trading for more than a hundred different major stocks and ETFs on the Ethereum blockchain
Why it matters:
- This is one of the single largest launches of tokenized stocks ever in crypto
Going deeper:
- Ondo Finance has initially enabled trading for companies including Apple (NASDAQ: AAPL), Tesla (NASDAQ: TSLA), Meta (NASDAQ: META), Microsoft (NASDAQ: MSFT) as well as ETFs such as SPDR S&P 500 ETF (NYSE: SPY) and Invesco QQQ Trust (NASDAQ: QQQ)
- Ondo Finance has also publicly stated they plan to quickly roll out tokenized stocks on multiple other blockchains besides Ethereum, including Solana, Binance Smart Chain and their own blockchain Ondo Chain
- Tokenized stocks have been a major theme in the public markets lately, with Robinhood (NASDAQ: HOOD) previously launching trading of tokenized stocks in Europe for the first time ever
The intrigue:
- Galaxy Digital (NASDAQ: GLXY) also just recently made major waves on Wall Street when they became the first ever Nasdaq listed company to tokenize their stock on the Solana blockchain through a new partnership with Superstate
