Mentioned:
COIN -7.09%
There’s a new player in tokenized stocks. And they want to become a dominant force.
What’s happening:
- Ondo Finance has launched a new platform known as Ondo Global Markets focused on tokenizing American based stocks, bonds and ETFs for global investors to be able to access directly on the blockchain
By the numbers:
- Ondo Global Markets will initially launch with 1,000 tokenized stocks and 24 hour trading accessibility
- Each tokenized share will be backed on a 1:1 basis with the underlying equity, leveraging a similar approach to how stablecoins are backed
Why it matters:
- Tokenizing stocks is one of the largest potential unlocks for ushering in more global capital into North American listed companies and ETFs that are currently completely inaccessible to foreign investors
Going deeper:
- Ondo Finance has attracted some of the most well respected investors in crypto, including Peter Thiel’s Founders Fund, Dan Morehead’s Pantera Capital, Coinbase (NASDAQ: COIN) and Tiger Global
The intrigue:
- Fractional ownership and tokenization of real world assets continues to be on the rise, with publicly listed company SOL Global Investments (CSE: SOL) just recently making a strategic investment into MCQ Markets to bring luxury collectible cars onto the Solana blockchain
