Ondo Finance Launches Tokenized U.S. Stocks and ETFs on ETH
What Ondo Global Markets Offers
Ondo Finance has launched Ondo Global Markets, a new platform offering tokenized access to U.S. stocks and ETFs. The service integrates deeply with California-based brokerage infrastructure provider Alpaca and is live on ETH, with Solana and BNB Chain integrations to follow. More than 100 tokenized assets are available today, with Ondo projecting the lineup will exceed 1,000 by year’s end.
Each token is fully backed by shares or funds held by U.S. broker-dealers and independent custodians. Tokens can be transferred peer-to-peer around the clock in eligible jurisdictions, positioning them as programmable equivalents of traditional equities.
Investor Takeaway
Why Alpaca Is Central to the Model
Alpaca, founded in 2015, provides the regulated infrastructure underpinning Ondo’s tokenized equities. A FINRA-member broker-dealer that went self-clearing in 2023, Alpaca now , OCC and FICC. Its Broker API is widely used by fintechs and neobrokers worldwide; Ondo is the first to use it for tokenization.
“The future of and decentralized markets,” said Alpaca CEO Yoshi Yokokawa. By providing direct clearing and settlement, Alpaca ensures Ondo’s tokens are fully backed and compliant while being transferable on-chain.
For Alpaca, the partnership extends its reach into decentralized finance (DeFi), a sector with unique challenges around balancing liquidity across time zones and protocols.
Why Global Investors Could Care
Ondo pitches the platform as a fix for barriers that keep investors outside the U.S. from accessing its $63 trillion securities market. Ian De Bode, Ondo’s , cited high fees, settlement frictions, and geographic restrictions as longstanding obstacles. Tokenization, he argues, offers “the speed, accessibility, and programmability of blockchain” as a answer.
The platform initially rolls out in select Asia-Pacific, African, and Latin American jurisdictions, but not in the U.S. Ondo says the tokens can be used within DeFi protocols in the identical way as stablecoins, opening opportunities for automated strategies, lending, and collateralization.
Investor Takeaway
How Ondo Differs From Earlier Attempts
Ondo enters a market where past tokenized stock programs have stumbled. Binance’s 2021 effort was shut down by regulators, and FTX’s collapsed alongside its broader platform. Ondo, however, brings institutional pedigree: founder Nathan Allman is a Goldman Sachs alum, while president Justin Schmidt is a former NYSE executive. The firm also issues OUSG and USDY, tokens backed by Treasuries and bank deposits, and worked with .
McKinsey recently estimated tokenized financial assets could reach $2 trillion by 2030, but noted adoption has been sluggisher than once projected. By focusing on compliance and working with regulated partners like Alpaca, Ondo aims to avoid earlier pitfalls while testing whether tokenization can move from niche to mainstream.
What’s Next for Tokenized Equities
Ondo Global Markets’ rollout will serve as a litmus test for whether blockchain rails can deliver true 24/7 access to U.S. equities. The key metrics will be whether spreads remain tight, redemptions function smoothly, and DeFi integrations attract liquidity. If successful, tokenized stocks could evolve from novelty products into a core component of .
For now, Ondo’s entry puts tokenization back in the spotlight, offering a regulated, scalable model that could determine whether this long-hyped innovation finally gains traction with both institutions and retail investors worldwide.
