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 received EU approval for tokenized assets, filed SEC registration, and partnered with Mastercard.
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Generated $15.2M in revenue during January-February 2026, ranking first among RWA projects by revenue.
Ondo Global Markets reached approximately $350 million TVL within weeks of launch.
Holds over 200 tokenized equity tokens as the largest tokenized equities provider.
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 10 tokenized U.S. securities (AAPL, GOOGL, TSLA, NVDA, QQQ, CRCL, META, AMZN, SPY, MSFT) on Binance Alpha and Binance Wallet with 0% trading fees on February 24, 2026, with a perpetuals market. Service unavailable in the U.S.
Achieved +11.5% growth in capital deployed over a 30-day period.
Integrates with NYSE and Nasdaq for tokenized stock trading, scaling to over 200 assets using a real-time pricing model, plans to expand offerings to over 1,000 assets.
Partnered with Chainlink to power the DeFi adoption of tokenized stocks.
Recorded 441,746 observations across tokenized stocks (AAPLon, NVDAon, TSLAon) in December, achieving under 0.16% slippage on $50K buys.
Reached $179M in USDY value on Solana as of Q1 2026, contributing to the network's $1.1B total RWA value.
Integrated Fidelity Center for Applied Technology's Decentralized Verification Network (DVN) on LayerZero for the Ondo Bridge, providing institutional-grade verification for cross-chain transfers.
Reached $1.6 billion TVL across 204 tokenized stock and ETF assets on Ethereum.
Token increased 185% in 2025.
Token fell 20% in January 2026 during broader market correction.
Is spinning up an RWA-focused Layer 1 blockchain.
Unlocks 1.94B ONDO tokens (134.21% of circulating supply) on February 18, 2026.
Holds 60% market share of the $1 billion tokenized stocks market with $944M total value, achieved in under 6 months.
TSMon market cap grew by 157% over the 30-day period ending February 13, 2026.
AMDon market cap grew by 216% over the 30-day period ending February 13, 2026.
MUon market cap grew by 336% over the 30-day period ending February 13, 2026.
USDY market cap grew 1,397% over the 30-day period ending February 13, 2026, with RWA treasury product expansion on Ethereum.
INTCon market cap grew by 149% over the 30-day period ending February 13, 2026.
USDY is supported as a tokenized asset on Infinit Labs' Prompt-to-DeFi platform, enabling integration with DeFi strategies and lending pools.
Bitget reports holding 89.1% market share of Ondo's tokenized stock tokens as of January 2026.
Achieved approximately $6 billion in daily trading volume on Bitget in January 2026.
Integrated tokenized equities $SPYon and $QQQon (SPY, QQQ ETFs) as collateral on Morpho, Kamino, and Euler, with liquidity from Gauntlet-curated RWA USDC vaults.
Is part of the tokenized funds sector that reached a $17B+ market cap.
Partners with xStocksFi to power onchain securities lending, turning tokenized equities into yield-bearing collateral.
Integrated tokenized U.S. stocks (SPYon, TSLAon, QQQon) and ETFs, including Invesco's QQQ asset on Ethereum, BNB Chain, and Solana, with Euler Finance as collateral for stablecoin loans and PYUSD borrowing.
Accounts for 65% of tokenized equities trading volume, holds 40% global equity token market share on Bitget, down from a peak 80% share.
Holds $2.03B TVL in tokenized treasuries, offering structured yield products.
Deployed USDY, a tokenized U.S. Treasury-backed product, on Sei Network, enabling holders to swap, lend, or use it as collateral across DeFi.
Contributed to $7.7M in 24-hour trading volume for tokenized stocks on Solana as one of four issuers marking 260 tokens.
Leads tokenized US Treasuries market, which crossed $10B in January 2026, alongside BlackRock, Franklin Templeton, and Circle.
Became available to New York residents on Coinbase.com and Coinbase iOS and Android apps.
TVL decreased by 8% over a 7-day period
Reached $556M+ TVL and $8.7B+ in cumulative volume through Ondo Global Markets.
Launched OndoPerps perpetuals trading platform on February 10, 2026, with institutional-grade infrastructure.
Filed with the SEC for regulatory approval or compliance.
Reached $429.85 million market cap for OUSG token with 9.0% of supply in DeFi protocols.
Received EU regulatory approval to list tokenized stocks and ETFs across 30 markets in the EU and EEA, with November approval by the Financial Market Authority Liechtenstein.
Down 87% from its peak price in December 2025.
Trading at a price below its Coinbase listing price as of February 4, 2026.
Confidentially filed a registration statement with the SEC for Ondo Global Markets, subject to SEC approval.
Partnered with BlackRock, Mastercard, JPMorgan, Franklin Templeton, Wellington Management, WisdomTree, Google Cloud, Morgan Stanley, BNY Mellon, and DTCC.
Integrated with MetaMask, enabling trading of 200+ tokenized US stocks and ETFs across Ethereum, Solana, and BNB Chain.
21Shares filed Form S-1 with the SEC for an ONDO ETF, a first-ever spot ETF filing.
received funding from Pantera with specific milestones attached to the investment
TVL reached approximately $1.5 billion in new deposits over the past year on Ethereum, representing approximately 400% year-over-year growth.
Reached $2.63 billion TVL as of February 2026, with $2.3B capital deployed as an RWA issuer, increasing 3.7% over the 30-day period ending 2026-02-25.
Appointed Min Lin as Managing Director of Global Business Development, who previously served as Chief Business Officer at Bitget and held senior roles at Binance and Goldman Sachs.
Ranked fifth among RWA projects by social activity with 700K engagements.
Integrated tokenized stocks and ETFs with Felix Protocol, enabling brokerage-style trading and borrowing against Ondo assets on the Hyperliquid ecosystem.
deployed USDY (treasury-backed yield token) on Aptos blockchain
Reached 175,420 token holders.
Unlocking 1.9 billion tokens in January 2026, valued at approximately $860 million at the time of announcement.
Scheduled token unlock of $733.58M worth of ONDO tokens on January 17, 2025.
Introduced a promotional fortune wheel program on Ourbit where users can earn free spins for 1 QQQON and tokenized equities by trading futures and using the DEX.
Expanded USDY to $2B TVL via BlackRock partnership.
Nominated for Defi Excellence Award by The Rollup, with winner announcement scheduled for 2025-12-30.
Participated as a speaker at Sovereign Day conference in Buenos Aires on December 22, 2025, discussing the future of global finance on-chain.
Launched bridge with LayerZero for tokenized assets across Ethereum, Solana, and BNB Chain.
Integrated Chainlink price feeds for tokenized US stocks and ETFs (SPYon, QQQon, TSLAon) on Ethereum, Solana, BNB Chain, Polygon, and Robinhood Chain.
Solana expansion in early 2026 includes nearly $2B worth of tokenized stocks, ETFs, and bonds.
U.S. SEC investigation from 2024 closes, and total trading volume surpasses $2B with over $1B in the past month alone.
Launched tokenized U.S. stocks and ETFs on Solana in 2026, including CRCLon and MUon, enabling 24/7 global fractional access.
Ondo Summit 2026 event announced with confirmed attendance from 21 major financial institutions including BlackRock, J.P. Morgan, Goldman Sachs, Citi, BNY, Fidelity, State Street, Swift, DTCC, and Franklin Templeton.
Oasis Pro acquisition closed, adding U.S. broker-dealer, ATS, and transfer agent infrastructure, while European expansion advances with BX Digital trading venue initiatives and steps toward EEA-wide passporting via Liechtenstein prospectus route.
State Street, Galaxy and Ondo launch tokenized liquidity fund with $200M seed capital to create 24/7 onchain liquidity for accredited investors.
Tokenized stocks market cap hit $800M all-time high with 30x year-to-date growth, controlling over 50% of the market. Listed among leading issuers alongside Robinhood, Backed, and Dinari.
Galaxy joins State Street as partner in SWEEP tokenized liquidity fund, OUSG TVL reaches $770M+, and early 2026 Solana launch timeline confirmed.
Trading volume for tokenized stocks and ETFs reaches $2 billion total, with over $1 billion occurring in the past month alone.
Ondo Finance to launch a tokenized liquidity fund on Solana.
The SEC closes its two-year investigation without taking any action, removing regulatory uncertainty.
30-day revenue reaches $3.7M with +260% YTD growth, ranking 4th among RWA projects by revenue based on December 2025 metrics.
OUSG serves as lead anchor investor in SWEEP and holds a diversified portfolio of tokenized Treasury funds from BlackRock (BUIDL), Fidelity (FDIT), Franklin Templeton (BENJI), WisdomTree (WTGXX), Wellington Management/FundBridge Capital (ULTRA), with State Street's SWEEP to be added upon launch.
StateStreet (4th largest asset manager with $5T AUM) and Galaxy Digital partner to launch tokenized liquidity fund SWEEP on Solana in early 2026, with Ondo Finance providing $200M seed capital and PYUSD handling onchain subscriptions and redemptions.
OUSG ranks #5 and USDY ranks #7 among the largest tokenized funds by market cap.
Trading available on okutrade platform with 11 different routers competing for order flow, including CoW swap router capable of executing $100k purchases.
Liquidity on Ethereum for RWA products improves dramatically, enabling purchases of $100k worth of stocks with essentially no slippage on CoW protocol.
Tokenized asset ecosystem reaches $1.81B in total value, with $772.7M in Short-Term US Gov Bond Fund and $702.3M in U.S. Dollar Yield as the largest allocations.
The SEC concludes its investigation into Ondo Finance with no charges filed.
Joins the Blockchain Association, the leading group driving pro-innovation U.S. digital-asset policy.
Ondo tokenized stocks generate $88M trading volume on Bitget in first week of December with 73% market share.
Integrated USDY into Sei Network's DeFi ecosystem, went live on Yei Finance for lending. Tokenizes Circle onchain with CRCLon.
Gate opens spot trading for 12 stock token pairs from Ondo Finance, including IAUON/USDT, SLVON/USDT, TLTON/USDT and 9 additional pairs.
Ondo Finance ranks among the 6 largest tokenized fund issuers, with 5 out of 6 of these largest deployments on Ethereum.
Price rises 5% on the SEC investigation closure news, with CNBC describing it as an important milestone for the entire tokenization ecosystem.
Ondo Summit scheduled for February 3, 2026 in New York will reveal roadmap updates and bring together regulators, policymakers, and traditional finance executives.
The SEC closed its two-year investigation into Ondo Finance last month, clearing the path for U.S. expansion in tokenized assets.
SEC Chair Paul Atkins and Commissioner Hester Peirce publicly outline views on how the SEC should evaluate tokenization across direct, intermediated, and wrapped models in separate remarks this week. BlackRock CEO Larry Fink and Coinbase CEO Brian Armstrong describe tokenization as the future of finance at the NYT DealBook Summit, highlighting real-time settlement, reduced counterparty risk, and operational efficiency.
iShares Silver Trust ETF tokenized by Ondo Finance is the fastest growing stablecoin/tokenized fund on Ethereum.
A whale purchases an additional $13.9M across 10 altcoins including ONDO, adding to existing positions beyond the previously reported $13.9M acquisition.
Ondo Global Markets exceeds $350M in TVL, operating as the largest tokenized stock and ETF platform. A whale identified as "0xBC64" purchases $242K worth of ONDO tokens as part of a $13.9M diversified acquisition across 10 assets during the market dip.
Submitted a formal roadmap to the SEC today proposing regulatory clarity for tokenized securities across multiple ownership models and blockchain types, including enabling broader tokenization of securities held in DTC.
1inch Swap API now supports routing into Ondo Global Markets assets on BNB Chain, enabling swaps from any token into 100+ tokenized U.S. stocks and ETFs with intent-based execution and solver-driven pricing. NVDA tokenized stock market cap increased by approximately 100% in the past week.
Official ONDO Summit announced for February 3, 2026 in NYC featuring DTCC's Global Head of Digital Assets Nadine Chakar and Franklin Templeton's Sandy Kaul as speakers, with total assets under management reaching $1.8B onchain.