ITN Integration

Alpaca’s Instant Tokenization Network (ITN) allows authorized participants to convert supported underlying securities into Ondo Stocks and redeem Ondo Stocks for the underlying securities.

ITN is available only in Ondo’s staging environment with Alpaca’s sandbox. It supports only Ethereum and BNB Chain. Every Ondo API URL on this page uses https://api.gm-staging.ondo.finance/v1. Every Alpaca API URL uses https://broker-api.sandbox.alpaca.markets.

For the complete ITN workflow and API details, see Alpaca’s Tokenization Guide for Authorized Participants.

Prerequisites

Complete these steps before submitting an ITN request:

Set up an Alpaca sandbox account.
Complete the Ondo Stocks onboarding and KYC process to establish your Ondo account.
Request access to the Ondo staging API and obtain a staging API key.
Provide the Alpaca team with the email address associated with your Ondo account and your corresponding Alpaca account number. The account number is different from the Alpaca account ID used in API paths.
Wait for Alpaca to link the accounts.
Provide the Ondo team with the wallet address that you plan to use with ITN.
Wait for Ondo to enable ITN access for the wallet.

Mint requests will fail if the Alpaca and Ondo accounts are not linked or if the destination wallet has not been enabled for ITN.

Supported assets and rate limits

ITN supports the following assets in staging on Ethereum and BNB Chain only. Each amount is the asset-level USD notional limit for one market session. Mint and redemption activity is measured against separate limits of the listed amount.

Underlying symbol	Pre-market	Regular	Post-market	Overnight	Off-Hours
`AAPL`	$1,000,000	$2,000,000	$1,000,000	$500,000	$250,000
`NVDA`	$1,000,000	$2,000,000	$1,000,000	$500,000	$250,000
`TSLA`	$1,000,000	$2,000,000	$1,000,000	$500,000	$250,000
`MSFT`	$1,000,000	$2,000,000	$1,000,000	$500,000	$250,000
`AMZN`	$1,000,000	$2,000,000	$1,000,000	$500,000	$250,000

Fees

Ondo does not charge fees for minting or redeeming Ondo Stocks through ITN. Ondo processes in-kind transfers between the underlying securities and Ondo Stocks at no additional cost.

Alpaca may charge its own fees for mint and redemption requests. The response from Alpaca’s List Tokenization Requests endpoint includes any fees associated with each request. See Alpaca’s Tokenization Guide for Authorized Participants for its current fee schedule.

Check asset availability

Before minting or redeeming, use Get Current Market Status and Get Asset Statuses to check for market-wide and asset-specific pauses. All GM API requests require an API key in the x-api-key header. The staging base URL is https://api.gm-staging.ondo.finance/v1.

curl --request GET \
  "https://api.gm-staging.ondo.finance/v1/status/market" \
  --header "x-api-key: ${GM_API_KEY}"

curl --request GET \
  "https://api.gm-staging.ondo.finance/v1/status/assets" \
  --header "x-api-key: ${GM_API_KEY}"

Ondo does not continue redemption settlement while a relevant MARKET_PAUSED or ASSET_PAUSED status is active. ASSET_LIMITED does not pause ITN. These endpoints do not expose every ITN-specific or chain-specific pause. If no active pause is reported and a request remains pending, contact support@ondo.finance.

Mint Ondo Stocks

To mint Ondo Stocks, submit a request through Alpaca’s Mint Request endpoint. Set issuer to ondo. The only supported network values are ethereum for Ethereum and binance for BNB Chain.

curl --request POST \
  "https://broker-api.sandbox.alpaca.markets/v1/accounts/${ALPACA_ACCOUNT_ID}/tokenization/mint" \
  --user "${ALPACA_BROKER_KEY}:${ALPACA_BROKER_SECRET}" \
  --header "Content-Type: application/json" \
  --data '{
    "underlying_symbol": "AAPL",
    "qty": "1",
    "issuer": "ondo",
    "network": "ethereum",
    "wallet_address": "0xYOUR_ENABLED_WALLET"
  }'

The qty field is the number of underlying shares to tokenize and may contain up to nine decimal places. Ondo calculates the corresponding Ondo Stock token amount and delivers it to the enabled wallet after the underlying shares settle. To mint on BNB Chain, change network to binance. Use your Alpaca sandbox credentials for all ITN requests.

Check request status

Use Alpaca’s List Tokenization Requests endpoint to monitor your mint and redemption requests:

curl \
  "https://broker-api.sandbox.alpaca.markets/v1/accounts/${ALPACA_ACCOUNT_ID}/tokenization/requests" \
  --user "${ALPACA_BROKER_KEY}:${ALPACA_BROKER_SECRET}"

Each request has a status of pending, completed, or rejected. The response also includes identifiers, quantities, network information, transaction hashes, and any fees associated with the requests.

Redeem Ondo Stocks

Redemptions begin on-chain. From the wallet enabled during onboarding, first approve the ITN issuer contract to spend the Ondo Stocks you want to redeem. Then call redeem(address,uint256) on the issuer contract. A successful redemption burns the tokens. Ondo detects the burn and works with Alpaca to transfer the corresponding underlying shares to your linked Alpaca account. See Alpaca’s Redeem Workflow for more information.

Find the token contract address

Use Get Contract Addresses for an Asset with the Ondo Stock symbol:

curl --request GET \
  "https://api.gm-staging.ondo.finance/v1/assets/${TOKEN_SYMBOL}/addresses" \
  --header "x-api-key: ${GM_API_KEY}"

Select the address whose networkChainId is ethereum-1 or bsc-56. Use the returned decimals value when converting a human-readable token amount into the integer passed to the contract.

Submit the redemption

The flow is the same on Ethereum and BNB Chain. Use an RPC endpoint for your selected network and the corresponding ITN issuer contract:

Network	Mainnet issuer contract for the sandbox flow
Ethereum	`0x46c65333cea9a3c6357c4f075e9f67aaef0639df`
BNB Chain	`0x194e4db0a165c4108db08534564196d915eadcf3`

Although ITN uses Alpaca’s sandbox, these contracts are deployed on Ethereum and BNB Chain mainnet. Tokens minted through this sandbox flow have no monetary value, but transactions require real ETH or BNB for gas. The approval and redemption transactions must both be sent from the wallet that Ondo enabled for ITN.

The example below uses Foundry’s cast command. Ondo Stocks use 18 decimal places, so convert the human-readable token amount before submitting it. This amount represents the Ondo Stocks being redeemed, not the number of underlying shares.

TOKEN_ADDRESS="0xTOKEN_ADDRESS"
ISSUER_ADDRESS="0xITN_ISSUER_ADDRESS"
TOKEN_AMOUNT="1.5"
AMOUNT_WEI="$(cast to-wei "${TOKEN_AMOUNT}")"
RPC_URL="https://YOUR_NETWORK_RPC_URL"

# Approve the ITN issuer contract to spend the tokens being redeemed.
cast send "${TOKEN_ADDRESS}" \
  "approve(address,uint256)" "${ISSUER_ADDRESS}" "${AMOUNT_WEI}" \
  --rpc-url "${RPC_URL}" \
  --private-key "${PRIVATE_KEY}"

# Transfer and burn the tokens to begin settlement through Alpaca.
cast send "${ISSUER_ADDRESS}" \
  "redeem(address,uint256)" "${TOKEN_ADDRESS}" "${AMOUNT_WEI}" \
  --rpc-url "${RPC_URL}" \
  --private-key "${PRIVATE_KEY}"

After the redemption transaction is confirmed, use the request status endpoint to follow settlement. It may take time for a newly observed redemption to appear in Alpaca. Do not resubmit a successful on-chain redemption while it is being processed. The request remains pending until Alpaca transfers the underlying shares and the redemption completes.

Home

REST API

Streaming API

References

Prerequisites

Supported assets and rate limits

Fees

Check asset availability

Mint Ondo Stocks

Check request status

Redeem Ondo Stocks

Find the token contract address

Submit the redemption

​Prerequisites

​Supported assets and rate limits

​Fees

​Check asset availability

​Mint Ondo Stocks

​Check request status

​Redeem Ondo Stocks

​Find the token contract address

​Submit the redemption

Prerequisites

Supported assets and rate limits

Fees

Check asset availability

Mint Ondo Stocks

Check request status

Redeem Ondo Stocks

Find the token contract address

Submit the redemption