Overview

What is Ondo Global Markets?

Ondo Global Markets (Ondo GM) is a tokenization platform designed to provide onchain exposure to publicly traded securities. The platform will enable investors outside the US to gain exposure to thousands of US publicly traded securities, including stocks and ETFs. By providing tokenized exposure to these assets, Ondo Global Markets brings the transparency, efficiency, and accessibility enabled by blockchain technology to institutional-grade finance. Through its APIs and SDKs, the platform also empowers third-party developers to build innovative financial applications, making it a cornerstone for the next generation of financial services.

What are Ondo tokenized stocks?

Ondo tokenized stocks (when we say ‘stocks’ we are also referring to ETFs and other publicly traded securities, for convenience) are tokens issued by the Ondo Global Markets platform. They are designed to give holders the same economic exposure as they would receive if they owned the underlying asset and invested dividends back into the stock (net of withholding tax). They are designated by the on suffix. For example, the stock ticker for Tesla is TSLA, therefore the corresponding Ondo tokenized stock is called TSLAon . You can think of the on suffix as standing for onchain or Ondo—whichever you prefer.

What are the most important things I should know?

• Ondo tokenized stocks are designed differently than many other tokenized stocks. They are designed to be as liquid as the underlying assets, minimizing slippage and price deviation from the underlying assets they represent. Learn more.
• One token does not necessarily represent the value of one share, and the price of one token will not always match the price of the underlying asset. Ondo tokenized stocks are fully backed with the underlying asset (together with any cash in transit), but they are what is known as total return trackers; they are meant to provide tokenholders with the same economics as holding the underlying asset and investing any dividends back into the stock (net of withholding taxes). Therefore, over time, a given token may provide economic exposure to more than one share, and the price of the token and the underlying stock are likely to diverge. Learn more
• They generally trade 24/5, but there are exceptions. There can be short pauses in trading between trading sessions, during corporate actions (like dividends and stock splits), if certain platform risk limits are hit, etc. You can always see the latest status at status.ondo.finance (opens in a new tab). Learn More
• There are no mint or burn fees. When you buy or sell an Ondo tokenized stock, the quoted price is the price you will pay (or receive), though this may differ slightly from the price at which we buy (or sell) the underlying. Learn more
• Minting and burning are instant. When you buy or sell Ondo tokenized stocks, you get your tokens or stablecoins in a single atomic transaction. Learn more
• You can buy fractional tokens. You do not need to purchase full tokens.
• They are currently available on Ethereum, but will be available on other chains soon. BNB Chain, Solana, and others are coming soon.
• There are currently 100+ assets available, but more are coming soon. The Ondo Global Markets platform is designed to be highly scalable. In the coming months expect many more assets to come online. Learn More
• They are designed to give you economic exposure to the underlying asset, not direct title to them. While you can redeem your Tokens for cash or stablecoins for the then-value of the underlying assets, you do not receive shareholder voting rights, statutory information rights or other shareholder rights from the issuer of those securities. Learn more
• They are generally available to non-US investors. Subject to certain jurisdictional and other restrictions. Learn more
• They are transferrable and DeFi compatible. Ondo tokenized stocks are designed to be usable in DeFi protocols that support them. For example, they could be used as collateral for lending or in perps protocols.
• They are being launched with an ecosystem of partners. Ondo tokenized stocks are being launched in partnership with many participants of the Ondo Ecosystem, including Bitget, Trust Wallet, OKX, HTX Global, 1inch, CoW Protocol, Ledger, BitGo, CoinGecko, Morpho, Gauntlet, Alpaca Markets, and others.
• To buy or sell them directly from the platform, you must complete the Ondo Global Markets know-your-customer (KYC) onboarding process. Currently, onboarding is only open to institutional participants; onboarding for retail users and individuals is coming soon. Learn more
• They are designed with best-in-class investor protections. Ondo tokenized stocks offer a bankruptcy-remote legal structure using a special purpose vehicle with at least one independent director, full asset backing with overcollateralization, a first-priority security interest held by a third-party security agent, daily attestations of assets held at regulated US entities, rigorously audited smart contracts, and transparent reporting via daily updates, monthly reconciliations, and annual audits. Learn more