Tokenized securities issuer Ondo Finance announced on Tuesday the launch of its tokenization platform, Ondo Global Markets (Ondo GM), with the aim of bringing public securities such as stocks, bonds, and exchange-traded funds (ETFs) onto the blockchain.
Ondo stated that Ondo GM is expected to address existing issues in the current securities investment environment, such as high fees, limited accessibility, transfer friction, and lack of interoperability.
According to the announcement, the newly launched tokenization platform will provide investment opportunities in securities listed on the New York Stock Exchange and Nasdaq, including fixed income ETFs and individual stocks like Apple and Tesla. Ondo stated:
Furthermore, Ondo GM reportedly allows issuers to integrate permission mechanisms within the distribution layer, thereby giving decision-making power back to stakeholders.
After the announcement, Ondo Finance’s governance token ONDO briefly rose by approximately 5% before returning to its original price. As of the time of writing, ONDO’s trading price is around $1.43. Source: [data source]