Trust & Transparency
How do I know my funds and assets are protected?
Bankruptcy-Remote Legal Structure
Ondo tokenized stocks are issued using battle-tested practices designed to maximize bankruptcy remoteness. This includes issuance from a special purpose vehicle managed by a distinct Board of Directors with an independent director, as well as segregation of assets, books and accounts from Ondo Finance Inc. and the Ondo Foundation group. These measures help ensure that the tokens' backing assets remain protected, even in the unlikely event of a bankruptcy or insolvency.
Full Asset Backing and Security Interest
Ondo tokenized stocks are all fully backed by their underlying stocks and ETFs (together with cash in transit). Further, the issuer of Ondo tokenized stocks is required to ensure that there is additional collateral available—above and beyond this full backing—at all times to overcollateralize its obligations to tokenholders.
Tokenholder interests are further supported via an independent third-party security agent, Ankura Trust Company, which holds a first-priority, perfected security interest in this collateral, and is authorized and empowered to take possession of this collateral, exchange it for cash, and distribute the proceeds to tokenholders in specified events of issuer default. For example, if for some reason the issuer were unable to adequately service token redemption requests, or were unable to adequately maintain the full backing of the tokens, the requisite tokenholders could direct the security agent to take possession of this collateral, exchange it for cash, and distribute the proceeds to tokenholders as described above.
Transparent Holdings with Regulated Custodians
Ondo Global Markets provides daily attestations of Ondo tokenized stocks holdings, conducted by an independent third-party verification agent, Ankura Trust Company. The daily attestations can be viewed online beginning October 1, 2025. All Ondo Global Markets holdings are held with one or more U.S.-registered custodial broker-dealers.
Smart Contract Security
Ondo tokenized stock smart contracts have been rigorously tested and have undergone independent audits by Spearbit and Cyfrin to ensure code integrity and protocol safety. More details can be found here.
Contractually Obligated Insurance Fund
In addition to the above, the Ondo Foundation (via Flux Finance, Inc., a wholly owned subsidiary of the Ondo Foundation, which is the majority owner of the issuer of Ondo tokenized stocks) has guaranteed funds to further collateralize Ondo Global Markets' obligations to tokenholders.
What kind of reporting will you provide?
Transparency is central to Global Markets:
- Daily Reports: We will publish daily updates on the holdings and net asset value (NAV) of the Global Markets product. These reports are independently reviewed by Ankura Trust for accuracy and completeness. Reports will begin being available within 60 days and can be found in the Token Holder Protections section of any Global Markets Asset Product Detail page, i.e. https://app.ondo.finance/assets/nvdaon (opens in a new tab)
- Monthly Reconciliation: Detailed reconciliation reports will be made public by the 20th of the following month, offering line-item clarity on holdings, fund flows, and account balances.
- Annual Audits: Full financial audits will be conducted annually by an independent audit firm and made available to investors.
What happens if Ondo Finance files for bankruptcy?
Ondo Finance, Inc. serves as the technology and service provider to the Global Markets issuer but is structurally and legally separate from the issuer entity. In the unlikely event that Ondo Finance enters bankruptcy, Global Markets’ structure is designed to prevent the issuer’s assets from being affected. The issuer is bankruptcy-remote, with independent governance, separate accounts, and third-party oversight to protect investors.
What is the legal structure behind Global Markets?
Ondo Global Markets (BVI) Limited is a dedicated special purpose vehicle (SPV), a wholly separate legal entity from Ondo Finance Inc. and the Ondo Foundation group. This SPV:
- Is governed by a Board of Directors that includes an independent director.
- Maintains full segregation of assets, accounting, and operations from Ondo Finance and the Ondo Foundation group.
- Has engaged Ondo Finance solely as a service provider for tokenization and general and administrative operations.
Who is the Ankura Trust Company?
Ankura Trust Company serves as the Verification Agent and Security Agent for Global Markets. In these roles, Ankura:
- Reviews and verifies the existence and amounts of the underlying securities daily.
- Confirms reconciliation of investor liabilities and fund reserves.
- Holds a first-priority security interest in the underlying securities that serve as collateral for Ondo Global Markets' obligations to its tokenholders.
- Has legal authority to protect investor interests in the event of operational failure or insolvency, as defined by the governing control agreements.