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Why Is ONDO Price Soaring With 100+ New Assets Launching on Ethereum? Discover the Impact!
In a significant development that has caught the attention of the global investment community, Ondo Finance, a pioneering Layer 1 blockchain protocol, has unveiled its latest initiative, Ondo Global Markets. This platform is specifically structured to offer non-US investors unprecedented access to over 100 tokenized US stocks and ETFs via the Ethereum blockchain. Following this groundbreaking announcement, ONDO, the native token of Ondo Finance, experienced a sharp 6% increase, pushing its value close to $1 after a week’s start at $0.86. This rise is in sync with the broader corrections observed in the crypto market.
Ondo Global Markets: Revolutionizing Access to US Financial Markets
According to Ondo Finance’s recent press release, the new Ondo Global Markets platform is poised to become one of the largest portals for international exposure to the US financial markets, with a particular focus on serving investors from the Asia-Pacific, African, and Latin American regions. Currently operational on the Ethereum blockchain, there are plans underway to extend this service across other networks such as BNB Chain, Solana, and Ondo Chain.
For the uninitiated, the Ondo Global Markets platform allows both retail and institutional investors outside the US to mint and redeem tokenized US stocks and ETFs throughout the week. This process leverages traditional exchange liquidity, ensuring that these digital assets are fully backed by the actual securities held with US-registered broker-dealers. Thus, investors are guaranteed total economic returns that mirror those of the underlying stocks, inclusive of price movements, dividends, and corporate actions.
Strategic Expansion and Technological Synergy
Nathan Allman, the founder and CEO of Ondo Finance, has expressed his excitement over the launch, describing Ondo Global Markets as a “breakthrough in financial access.” He emphasized that the platform enables global investors to access the broadest array of transferable tokenized US stocks and ETFs, drawing a parallel to how stablecoins have facilitated the introduction of the US dollar into the digital sphere.
A spokesperson for Ondo Finance drew attention to the similarities between tokenized stocks and USD-pegged stablecoins, emphasizing that both offer similar total-return exposure as their underlying assets. Indeed, the tokenization of the US dollar has significantly enhanced its global reach and usability, mirroring the explosive adoption of tokenized Treasuries, which have seen a surge in growth of over 7,000% since 2023.
Supporting Infrastructure and Future Prospects
To support this innovative service, Ondo tokenized stocks are compatible with a broad spectrum of leading crypto wallets, exchanges, and infrastructure providers, including Bitget Wallet, Trust Wallet, OKX Wallet, and Chainlink. This extensive support network simplifies the process for investors to access and manage their tokenized equities across various on-chain applications. As of the latest updates, ONDO is trading at $0.96, marking it as one of the few tokens to record gains across all timelines. However, despite a 60% growth year-to-date, it still trades 54% below its record high of $2.
For those keen on exploring more about this innovative leap in blockchain-based financial instruments, continue reading about crypto developments here or check out the latest opportunities at Binance.
Ondo’s strategic initiatives and expansion into tokenized assets underscore a significant shift in how global investors may soon interact with traditional financial markets, promising a more interconnected and accessible financial ecosystem.
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