Ondo Stocks Surpasses $1 Billion in TVL as SEC Framework Takes Shape
The platform offers more than 260 tokenized U.S. stocks and ETFs to eligible non-U.S. users across Ethereum, Solana and BNB Chain.
Ondo Stocks has surpassed $1 billion in total value locked in less than eight months after launch, expanding the reach of tokenized U.S. stocks and ETFs as the Securities and Exchange Commission creates a temporary framework for some on-chain trading venues.
The platform, formerly known as Ondo Global Markets, offers more than 260 blockchain-based tokens linked to the economic performance of U.S. stocks and exchange-traded funds. It operates across Ethereum, Solana and BNB Chain.
Direct minting and redemption are available only to eligible non-U.S. users. The tokens are backed by corresponding securities held at U.S.-registered broker-dealers and provide total-return exposure, including dividends. They are not shares or ETFs and do not give holders direct ownership rights in the underlying securities.
The tokenized stocks can be transferred and traded peer-to-peer 24 hours a day, seven days a week. Direct minting and redemption generally operate 24 hours a day, five days a week. The tokens can also be used in decentralized-finance applications, including lending.
“Crossing $1 billion in total value locked is a validation of the thesis that global investors want access to U.S. capital markets through infrastructure that is more transparent, more accessible, and more efficient than the legacy system,” Ian De Bode, president of Ondo Finance, said.
The SEC issued temporary, conditional exemptions on Sept. 17 for certain tokenized National Market System stocks traded through permissioned automated-market-maker liquidity pools. The exemptions include limits on eligible symbols and trading volume and expire five years after publication.
The action does not broadly authorize tokenized-stock products or make Ondo Stocks available to U.S. clients. Ondo’s direct offering remains limited to eligible users outside the United States.
The broader Ondo platform had $2.954 billion in active assets and $3.711 billion in on-chain assets as of Sept. 29. Those figures include products beyond tokenized stocks, including tokenized Treasury-related assets, and do not represent the platform’s tokenized-stock TVL alone.
