what's ondo?
Ondo Finance is a blockchain-based platform specializing in the tokenization of real-world assets (RWAs), particularly U.S. Treasuries, stocks, and ETFs, to provide institutional-grade finance accessible onchain for global investors. Its key products include OUSG, a tokenized short-term U.S. Treasury fund, and USDY, a yield-bearing stablecoin backed by Treasuries and bank deposits, which together have surpassed $1.6 billion in total value locked (TVL). The platform emphasizes compliance and innovation, recently acquiring Oasis Pro to secure comprehensive SEC registrations for digital asset services, enabling broader access for U.S. investors. Ondo operates across multiple blockchains like Ethereum, Solana, and Polygon, and supports features such as instant liquidity, real-time settlement, and cross-chain transfers via protocols like Flux Finance and Ondo Bridge. As a leader in the RWA sector, Ondo has facilitated over $25 million in yield for holders and is expanding into tokenized stocks and ETFs through its Ondo Global Markets platform.
Ondo recorded +94% weekly volume growth, $3.6B TVL, and $1B tokenized stock volume on Binance.
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Achieved weekly volume growth of +94% while TVL grew +2%, with 30-day TVL change of -5% on $3.6B total value locked.
Reached over $100M in TVL for tokenized stocks on Binance.
Generated $1B in volume for tokenized stocks since listing on Binance.
RWA tokenization has grown 5x since 2023, with forecasts projecting market size to reach $4-16T by 2030.
The RWA sector, of which Ondo is part, reached a $33.5B market cap.
Experiences repeated large transfers totaling approximately 1 million ONDO tokens per batch from specific wallets (including 0x016606...4049Ee and 0xb4C792...2C2869) to CEX deposit addresses on Binance, Gate, and Coinbase, with one flagged transaction moving 6.1 million ONDO (approximately $1.65 million).
USDY token is integrated on Polytrade platform, deployed on Mantle network.
Executives from Ondo Finance and Franklin Templeton discuss the need for decentralized blockchain rails for AI agents handling commercial transactions, suggesting a shift to on-chain infrastructure.
Transferred approximately 116 million ONDO tokens (valued at $30.21 million) from Ondo Finance multisig wallets to Coinbase over a six-week period, with weekly batches of around 20 million ONDO being sent to an intermediate multisig wallet before being split into multiple transfers to Coinbase.
Binance Convert adds recurring buy functionality for Ondo tokenized securities on both app and web platforms.
Listed 10 tokenized stocks and ETFs on Binance on April 9, 2026, following 10 digital securities listed on Binance Alpha in March 2026.
Admitted tokenized securities under the Abu Dhabi Global Market (ADGM) framework.
Fee switch may activate in 2026.
Achieves 0.01% price impact for $1M GOOGL trades. Achieved 75% of Global Markets transactions with less than 2 basis points spread and 95% with less than 5 basis points spread between February and April 2026.
Whales continue selling into any strength.
A whale deposited 2 million ONDO (approximately $506,000) into OKX on 2026-04-07.
A whale received 21.71 million ONDO (approximately $5.98 million) in March 2026 and deposited 5.5 million ONDO (approximately $1.5 million) into OKX and Coinbase.
Operates automated portfolio products for Treasury and private credit tokenization.
Crypto whale executed $50M Google stock trade on Ondo Global Markets in seconds during Hong Kong sleeping hours, featured in WSJ for 24/7 tokenized trading.
Has smart contract admin keys that allow a multi-sig to upgrade contracts and potentially steal user funds.
Froze 477K USDY (worth $537K) in the Drift exploit on April 1st, 2026.
Achieved market cap of approximately $1.33B with $82M in 24-hour trading volume.
Completed snapshot for Points Program, distributing up to $500 USDC; launched USDC airdrop claims April 10, 2026 for users farming USDC with USDY.
Integrated 264 tokenized stocks and ETFs across AI, defense, quantum, gold, and crypto categories into MetaMask on Ethereum, BNB Chain, and 7 other blockchains.
Tokenizes an S&P index fund on Base in partnership with tradfi asset manager JHI Advisors, with the tokenized asset available for lending and borrowing on Morpho vaults operated by Steakhouse Financial and Euler Finance.
Integrated with Stockcoin.ai to offer Ondo tokenized stocks and ETFs on their trading platform for non-US investors.
Generates approximately 3.5% APY through Treasury bill passthrough mechanism, with yield exposure to Federal Reserve rate cuts.
Generated $15.2 million in revenue during January-February 2026, ranking first among RWA projects.
OUSG paid out $1.97M in yield over the last 30 days, ranking 9th among yield-bearing stablecoins by actual yield paid.
Integrated 260+ tokenized stocks with Talos, leveraging Gate's $20B daily volume.
Paid out $3.33M in USDY stablecoin yields over the last 30 days, ranking 6th among yield-bearing stablecoins.
Led top movers with +5% price gain on March 27, 2026.
thUSD maintains a delta-neutral structure where collateral goes long thGOLD and simultaneously shorts gold futures across multiple exchanges including CME, generating yield from the spread between spot gold and gold futures plus gold lending yield paid by retailers.
Uses Standard Chartered for custody chain operations.
Integrated 260+ tokenized stocks and ETFs into Hyperliquid through Felix Protocol, establishing the first tokenized spot markets on Felix, available outside the U.S. only.
Advances tokenization integration with Franklin Templeton, BlackRock for 60+ assets (IBIT); launched eight energy assets (Chevron, Exxon Mobil) on Ondo Global Markets, targeting March 2026 launch outside U.S. FTDA_US Head of Innovation Sandy Kaul highlighted Ondo Global Markets for driving tokenized stocks.
Filed SEC no-action request on 2026-04-13 to record 200+ tokenized U.S. stocks and ETFs on Ethereum Mainnet via Global Markets platform, confirming no enforcement action and providing non-U.S. investor exposure.
Whale wallet 0x04d8 withdrew 8.07M ONDO tokens worth $2.05M from Binance on 2026-03-23.
Integrated with Glider for automated onchain portfolio building using tokenized assets, starting on 2026-03-23.
Has a tokenized Treasuries fund with 6.28M in circulation.
Launched first Layer3 discovery experience for Ondo Global Markets tokenized equities on Solana.
Holds largest RWA value share on Sei Network, driving 168% RWA value increase over 30 days, and ranks as third fastest growing tokenized U.S. T-bill fund.
Launched Ondo Perps, perpetual futures on U.S. equities like NVDA, TSLA, and commodities like gold and oil, using tokenized stocks as collateral, offering up to 20x leverage with 24/7 trading.
Integrated three Ondo assets (U.S. Dollar Yield, Short-Term US Government Bond Fund, and U.S. Dollar Token) on Polytrade on Solana.
The SEC approved Nasdaq's proposed rule change enabling trading of tokenized securities on its exchange, a development publicly commented on by Ondo President Ian Debode as positive for tokenized securities.
Leads in tokenized stocks with 58-61% market share, TVL at $700M, and $13B trading volume. Brought over $800M in tokenized stocks onchain with xStocksFi.
Charges 0.15% management fee plus 0.15% fund expense fee on OUSG product.
Featured by Token Terminal as a top RWA 2.0 investment opportunity, tokenizing high-quality stocks alongside BlackRock BUIDL and Centrifuge; also featured in a 2026 tokenomics analysis thread for OUSG and USDY as tokenized U.S. Treasuries with institutional-grade yield.
Integrated 61 tokenized U.S. stocks and ETFs with Holdstation.
Integrated 264 new assets with 1inch Swap API routing through partnership.
Executed $3,000,000 of tokenized NVDA stock onchain through Ondo Global Markets, establishing a new record for tokenized stocks.
Issued the top 3 tokenized stocks by 30-day transfer volume: CRCLon, NVDAon, and TSLAon.
Launched tokenized U.S. equities, ETFs, and commodity-linked products on Bitget this week in Europe and Asia-Pacific regions, tradeable 24/7 outside traditional market hours.
Featured in Fortune Magazine as a leading player in tokenized stocks, with coverage highlighting instant settlement and onchain access to equity markets.
Controls 70% of the tokenized U.S. stocks and ETFs market as of April 2026, up from 58.56% in Q1 2026. Manages $3.5B TVL on Global Markets and $2.6B in tokenized treasuries, with $4.8B all-time high tokenized marketcap.
Reached $90M cumulative DEX volume.
Ondo Global Markets processed $643 million in tokenized equities volume during February 2026.
Reached $12B+ cumulative trading volume since September 2025, with monthly volume hitting $2 billion in March 2026, and holders exceeding 200,000.
Processed $14 billion in trading volume and millions of trades since launch.
Integrated with EnsoFinance for authorized minting and deterministic routing of tokenized equity assets on Euler Finance lending markets paired with PYUSD.
Generated over $163M in trading volume for tokenized stocks during a two-week trading competition on OKX Wallet ending around March 10, 2026.
Reached $114M RWA token volume on March 10, 2026, capturing 90% of total market volume. OKX DEX accounted for 90% of Ondo's single-day volume.
Combined holder count for QQQon and SPYon tokenized ETFs surpasses 4,000 across BNB Chain, Ethereum, and Solana.
CRCLon, Circle's tokenized stock on Ondo Global Markets, leads tokenized stocks by market cap and onchain transfer volume, with $1.07 billion in volume year-to-date and a $104 million market cap.
Leading in tokenized equities category alongside xStocksFi, with integration into lending markets such as Kamino where tokenized stocks serve as collateral.
Holds one of the largest single-token positions in the RWA sector among Smart Money wallets, valued at $86M.
Transferred 10 million ONDO tokens (valued at $2.58 million) from its multisig wallet to Coinbase on March 12, 2026, following a previous transfer of 24.475 million ONDO ($6.12 million) approximately two weeks earlier.
Holds $1.1B-$1.17B TVL in tokenized Treasuries for USDY, representing 17% market share and ranking second to BlackRock/Securitize's BUIDL, increasing 201.1% over the past month on Ethereum.
Reached a market cap exceeding $10 billion for tokenized U.S. Treasuries as one of the leading issuers alongside Securitize, Circle, Franklin Templeton, Superstate, and WisdomTree.
Added 60 new U.S. tokenized stocks and ETFs on BNB Chain via Uglycash partnership, totaling over 250, including TSLA.on, NVDA.on, AAPL.on, SPY.on, QQQ.on.
Exceeded 200,000 total tokenized stock holders, including 6,000 on Solana for tokenized stocks and ETFs, which grew 100% month-over-month. Reached 8,800 total holders in March 2026, a 50% year-over-year increase, with 7,300 on Solana.
Saw tokenized stock holdings drop from $602M to $517M during the week ending March 10, 2026.
The top 10 user PnLs on Ondo Global Markets all exceeded $1,000,000 in profit, with the highest reaching $2.67M (+31.29%), based on a 180-day rolling window beginning early September 2025.
Launched new tokenized equity products, trading through market maker RFQ on CoW Protocol with better rates during market hours.
Counts over 40,000 onchain holders for tokenized stocks and ETF products on BNB Chain.
Reached $2.919B TVL, a new all-time high, by tokenizing $2B+ in U.S. Treasuries and credit products across 12 chains.
Integrated BlackRock BUIDL to hold OUSG assets for tokenized US Treasuries and institutional yield products.
Tokenized over $2.5 billion in assets since 2024.
Backed by Founders Fund and Pantera Capital.
Processed 1.3 million transactions for tokenized stocks on 1inch over a six-month period.
Surpassed $2.5 billion in RWA token trading volume on 1inch since September 2025, with BNB Chain leading.
Binance removes Seed Tag on March 6, 2026, and listed among top daily gainers.
A wallet linked to Jez San moved 8.08M ONDO (valued at $2.02M) to a new wallet on 2026-03-03.
Listed 10 additional tokenized securities (MUon, IAUon, SLVon, INTCon, PLTRon, COINon, BABAon, ORCLon, MSTRon, HOODon) on Binance Alpha on March 4, 2026, bringing the total to 20 tokenized securities available on the platform.
Listed among top gainers in the crypto market on March 4, 2026.
Reached $1 billion TVL for tokenized stocks on Ondo Global Markets.
Received ADGM approval for tokenized stocks including Apple, Nvidia, and Tesla, with ten Ondo digital securities from Ondo Global Markets becoming the first digital securities admitted for trading under the ADGM framework on Binance Alpha's Multilateral Trading Facility.
Launched a trading competition on OKX DEX for Ondo RWA tokens with 240,000 USD worth of rewards.
Generated $15.2M in revenue during January-February 2026, ranking first among RWA projects by revenue.
Holds over 200 tokenized US stocks and ETFs across 30+ sectors.
Launched over 60 tokenized stocks and enabled private credit loans to trade across Ethereum, Solana, and BNB Chain via Ondo Global Markets, expanding total assets to over 250. Maintains $604.5M TVL.
MyEtherWallet integrates support for Ondo Global Markets tokenized stocks and ETFs on Ethereum and BNB Chain.
Completed full integration with Phemex, enabling users to access global equities onchain through Ondo's tokenized equity suite.
Partners with Immunefi as a Magnus early access customer to use their unified security dashboard for managing on-chain security.
RWA tokens available for trading on OKX DEX with zero trading fees through 2026-03-10.
Listed NVDAon, TSLAon, GOOGLon, and 10 U.S. tokenized securities on Binance Alpha, Wallet, and Convert with 0% fees on Solana/Ethereum mainnet for non-U.S. investors since February 24, 2026. Runs a $500K competition from March 9 to March 23, 2026.
Achieved +11.5% growth in capital deployed over a 30-day period.
Launched over 60 new tokenized stocks and ETFs on March 19, 2026, on Solana, bringing total to over 250, including BlackRock's IBIT, Galaxy Digital, and Solana ETFs. Integrates with NYSE and Nasdaq for real-time pricing across Ethereum, Solana, and BNB Chain via Ondo Global Markets.
Integrated with Chainlink to enable DeFi collateral functionality for tokenized stocks in February 2026.
Recorded 441,746 observations across tokenized stocks (AAPLon, NVDAon, TSLAon) in December, achieving under 0.16% slippage on $50K buys.