To bring US securities, such as stocks, bonds, and exchange-traded funds (ETFs), onchain, Ondo Finance has launched a new company.
Ondo Finance, a platform for tokenizing real-world assets (RWAs), has launched a new venture to bring US securities, such as stocks, bonds, and exchange-traded funds (ETFs), onchain.
To bring financial markets onchain and improve their efficiency and accessibility, Ondo Finance has introduced Ondo Global Markets (Ondo GM), a blockchain-based solution. The company claimed in a blog post that the new venture would address issues facing the conventional securities market:
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Ondo Finance contrasted the new platform’s prospects with stablecoins’ effects on US dollar accessibility.
Ondo Finance Is Putting Financial Markets on the Blockchain
According to Ondo Finance, blockchain technology answers the conventional securities markets.
It stated, “We can bring institutional-grade financial markets onchain by utilizing blockchain technology, making them more efficient, transparent, and accessible.”
According to Ondo Finance, it held discussions with developers, its conventional financial partners, and government representatives. It discovered that the community was prepared to unleash the potential of blockchain technology for financial markets.
Using stablecoins as a model, Ondo GM will make it easier to create transferable tokens linked to stocks, bonds, and exchange-traded funds (ETFs).
According to Ondo, the platform will expose users to more than 1,000 securities listed on the NYSE and Nasdaq, including individual stocks of businesses like Apple, Tesla, and Uber, as well as equity and fixed-income exchange-traded funds (ETFs). According to Ondo, “Each token is backed 1:1 by the security it tracks.”
Ondo said that asset trading would be accessible 24/7 from any location.
Conventional exchanges will increase trading hours
Traditional exchanges are adapting to remain competitive in the face of onchain trading.
One of the biggest stock exchanges, Cboe Global Markets, declared plans to implement 24-hour weekday trading on February 3. According to the exchange, the move is intended to satisfy the demand from customers around the world for greater access to US stocks.
The shift also coincides with the growing availability of RWA tokenization platforms as a constant substitute for conventional markets.
