Ondo Finance is revolutionizing the traditional financial landscape with its innovative tokenization platform, Ondo Global Markets. By harnessing the power of blockchain technology, Ondo Finance is bridging the gap between traditional finance and decentralized finance (DeFi).
With its new initiative, the platform intends to provide unparalleled accessibility, efficiency, and transparency. As part of this development, Ondo Finance has also announced strategic partnerships with major industry players, sparking optimism.
However, this impressive list of Ondo Finance’s partnerships didn’t translate to price gains for the ONDO token. The cryptocurrency is currently lagging behind, marked by significant losses. This article explains Ondo Finance’s recent collaborations and their impact on the ONDO price.
Ondo Global Markets
In the latest development, Ondo Finance launched Ondo Global Markets, a tokenized equity platform that provides non-US investors access to over 100 US stocks and exchange-traded funds (ETFs) on the Ethereum blockchain. CEO Nathan Allman said,
“We saw stablecoins export the U.S. dollar by bringing it on-chain. Now, Ondo Global Markets is doing the same thing for U.S. securities.”
These tokenized assets are backed by securities held in custody at registered US broker-dealers, offering a secure and transparent way to invest in traditional financial markets. They are built to be highly interoperable, allowing seamless transfers between wallets, exchanges, and DeFi protocols. However, the service is not available for US users.
The platform aims to broaden its offerings to over 1,000 assets by year-end and extend its services to major blockchain firms like Solana and BNB Chain, leveraging LayerZero’s interoperability technology.
Significantly, this launch coincides with the growing trend of tokenizing real-world assets (RWAs), as projects increasingly bring treasuries, private credit, and equities on-chain to enhance accessibility and liquidity.
Chainlink Partnership
Earlier today, Chainlink and Ondo Finance announced a strategic partnership, leveraging the former’s Proof pf Reserve technology to enhance the reliability, security, and efficiency of Ondo Global Markets. This platform offers non-US investors access to over 100 tokenized US stocks and ETFs.
The integration of Chainlink’s high-quality tamper-resistant price feeds will enable Ondo Finance to provide stable and secure tokenized products, giving customers greater confidence in the potential for stable passive returns from diversified, automated, and decentralized portfolios.
1Inch Collaboration
1Inch has also joined hands with Ondo Finance to integrate tokenized real-world assets into its Swap API, allowing users to trade RWAs alongside native cryptocurrencies in a streamlined process. This update is now available across 1Inch’s dApp, wallets, and partner integrations, aiming to tackle the liquidity challenges that have previously limited RWA adoption in DeFi.
With this integration, tokenized assets become transferable and compatible with DeFi protocols, broadening their ecosystem reach. Co-founder Sergej Kunz stated,
Tokenization of real-world assets is tomorrow’s tech being adopted today. This reflects the company’s forward-thinking vision of bringing traditional assets into the decentralized world. The upgrade is part of 1inch’s broader mission to democratize finance.
Block Street, Ondo Team Up
Block Street and Ondo Finance are bridging the gap between TradFi and DeFi by introducing sophisticated stock lending strategies to the crypto space, enabling advanced trading opportunities. This move has the potential to unlock a new market for on-chain stock-based derivatives, enabling more complex financial interactions.
“Our mission has always been to make stock trading as free and global as the Internet,” said Block Street co-founder Hedy Wang. “Integrating with Ondo supercharges this vision…Together, we’re turning tokenized stocks from static wrappers into financial primitives.”
Ondo Price Dips
Despite the launch of Ondo Global Markets and these strategic collaborations, the ONDO price is experiencing a downward trend. At press time, the ONDO token is valued at $0.9180, down by a notable 6.3% in a day. Although the cryptocurrency saw a marginal hike of 0.5% over the past month, it dipped by 2.5% over the week.
This bearish momentum is spread across the market, which is underscored by the traders’ negative sentiment. The 24-hour trading volume is down by 30%, reaching $169 million.
