TL;DR
- Ondo Finance launched Global Markets on Ethereum with over 100 tokenized stocks and ETFs, aiming to surpass 1,000 assets by year-end.
- The tokens mirror the performance of stocks like Apple and Tesla, as well as ETFs from BlackRock and Fidelity.
- The platform integrates Chainlink, LayerZero, and partners such as OKX, Ledger, and Fireblocks, and will enable certain tokens to be used as collateral on Morpho with Gauntlet managing risk.
Ondo Finance introduced Global Markets, a platform that provides access to U.S. stocks and exchange-traded funds in tokenized form.
The initiative targets investors outside the United States and launched with more than 100 assets listed on Ethereum, with the goal of exceeding 1,000 before the end of the year. The company aims to bring the liquidity and reach of traditional markets into the crypto ecosystem, while ensuring constant availability and integration with decentralized protocols.
The system allows users to buy, sell, issue, and redeem tokens that represent shares of companies such as Apple and Tesla, along with ETFs from managers like BlackRock and Fidelity. These assets are backed by securities held with regulated U.S. brokers, though the tokens do not grant direct ownership. Instead, they replicate the economic performance of the original instruments, including price changes, dividends, and corporate action adjustments.
Wall Street 2.0
Ondo highlights that the model inherits liquidity from the stock market, making it easier to trade without major price slippage. The issuance and redemption mechanism is designed to support arbitrage, keeping token values aligned with the underlying shares. Unlike other tokenized stock offerings, the system seeks to minimize the gap between market price and intrinsic value.
The platform integrates with wallets, exchanges, and DeFi protocols, leveraging Chainlink for price feeds and LayerZero for robust cross-chain interoperability. Partners already providing support include Bitget Wallet, Trust Wallet, OKX, Ledger, Fireblocks, and CoinGecko. In addition, the lending protocol Morpho will allow certain tokens to be used as collateral in a vault managed by Gauntlet.
The Next Steps for Ondo Global Markets
Ondo states that independent daily audits of reserves will be conducted and has appointed a security agent with senior claims over underlying assets in case of default. This framework is designed to meet institutional standards and increase safeguards for large-scale capital inflows.
In the near term, the company plans to expand the service to BNB Chain, Solana, and its own network, Ondo Chain. It also intends to add bonds, international equities, and new instruments. Further ahead, it envisions incorporating features such as institutional lending, onchain wallet management, and native multichain token issuance.
