Ondo Global Markets makes more than 100 US stocks and ETFs tradable on-chain PR Newswire and highlighted by the specialized press, offering non-US investors the opportunity to gain economic exposure to securities listed on NYSE and NASDAQ through tokens on Ethereum.
The mechanism replicates the performance of the underlying assets, although it does not automatically guarantee voting rights, and connects regulated infrastructures with on-chain settlement to enable new forms of liquidity and interoperability.
According to the data collected by our editorial team during the monitoring phase (July–August 2025), in the preliminary observations, the price deviations between on-chain and the primary market appeared limited: the median deviation was less than 0.2% in 85–90% of the samples examined.
Industry analysts we spoke with highlight that the structure with securities held at registered broker-dealers tends to reduce operational risk, provided it is accompanied by independent audits and transparent reporting.
These preliminary findings will need to be confirmed with live trading data on significant volumes.
In brief
- Over 100 US stocks and ETFs available in token form on Ethereum.
- Operation 24/7 (the replica follows stock market hours) with price data powered by industrial oracle feeds like Chainlink.
- Underlying assets held with registered broker-dealers in the United States, with coverage for cash in transit.
- Targeted access to non-U.S. investors, with exclusions for specific jurisdictions.
- Multi-chain roadmap (integration via LayerZero) and expansion of the catalog to over 1,000 assets by the end of 2025 as reported on Cryptonomist.
What Ondo Global Markets Launches
The platform allows non-U.S. users to gain economic exposure to securities listed on NYSE and NASDAQ in the form of tokens on Ethereum.
Among the assets are large-cap tech companies and various ETFs, including fixed income instruments. In this context, the goal is to align on-chain usability with the structure of regulated markets.
Asset and Hedging
- Initial selection: over 100 US stocks and ETFs, with an expanding pipeline.
- Economic replica of the underlying securities; the tokens do not automatically confer voting rights.
- Continuous operation thanks to on-chain settlement, while reflecting traditional market hours; for technical insights see our guide to on-chain settlement.
Data, infrastructure, and custody
- Pricing: The oracle feeds are provided by market operators such as Chainlink (price feeds) and aggregators mentioned in the product notes. The use of decentralized oracles aims to ensure resilience and verifiability of on-chain quotations.
- Custody: the securities are held with broker-dealers registered in the USA, with a structure that provides coverage for cash in transit as indicated in the official statement; it is advisable to check the custody reports and audits published by the providers as a due diligence requirement.
- Supported wallets and exchanges: integrations with OKX Wallet, Trust Wallet, Ledger, BitGo, 1inch, and other providers to facilitate a smoother onboarding.
The launch has been confirmed by PR Newswire and further explored by Cryptonomist. For regulatory context clarifications, refer also to the documents and guidelines issued by market authorities and the intermediaries involved.
Liquidity and replication mechanism
Ondo proposes the adoption of traditional market liquidity standards within on-chain markets. The tokens are designed to replicate the economic yield of the underlying assets, held in regulated custody.
That said, the gap between stock market hours and continuous trading is addressed with reliable price feeds and settlement rules inspired by traditional finance.
- Guarantee: the real assets remain in custody with regulated intermediaries.
- Price Alignment: the use of oracle feeds aims to mitigate excessive deviations and arbitrage.
- Market: integration with market makers and liquidity protocols aims to maintain tight spreads.
Who can access
The offer is aimed at users in areas such as Asia-Pacific, Europe, Africa, and Latin America. However, U.S. retail clients and certain accounts in the United Kingdom are excluded, in line with the regulatory limits indicated by Ondo; the detailed list of jurisdictions and specific limitations are provided in the platform’s official compliance materials.
Interoperability and Roadmap
Ondo intends to extend cross-chain access through LayerZero, focusing on integrations with Solana and BNB Chain—an expansion already mentioned by Cryptonomist. Simultaneously, the Ondo Chain (L1) and the expansion of the catalog are in development, with the goal of surpassing 1,000 assets by the end of 2025.
Partnership and Integrations
- Wallet and exchange: planned integrations with OKX Wallet, Bitget Wallet, Trust Wallet, and Gate.
- Custody and liquidity: partnerships with BitGo, Ledger, Morpho, and 1inch.
- Oracles: Chainlink provides the data for on-chain pricing.
Implications for Investors and Market
The tokenization of equity securities expands access to US markets for non-local investors, offering continuous trading and more flexible settlement rules. However, various aspects related to property and administrative rights, coordination between traditional and on-chain markets, and the risk of liquidity fragmentation still need to be clarified.
What Changes for Investors
- Continuous access: trading occurs 24/7, although the performance reflects traditional market hours.
- Diversification: it is possible to access US stocks and ETFs without going through traditional local channels.
- Operational transparency: on-chain traceability allows real-time monitoring of movements and collateral.
- Interoperability: the multi-chain approach enables cross-ecosystem strategies.
- Costs and redemption: it is essential to check the fees and expected timelines, as stated in the official legal documentation.
Risks and Points to Verify
- Regulation: potential divergences between jurisdictions on KYC/AML, tax treatment, and offerings to retail investors.
- Shareholder Rights: while replicating the performance of the underlying assets, voting rights and corporate actions need to be clarified on a case-by-case basis.
- Custody: it is important to understand the structure of the vehicles holding the securities and the applicable guarantees; requesting documentation on custody services and audits is good practice.
- Technological risk: vulnerabilities in smart contracts, oracles, and cross-chain bridges require attention.
- Liquidity: during phases of volatility, discrepancies may arise between the on-chain price and the primary market.
Competitive Context
The launch is part of an acceleration phase in the tokenization of financial instruments. European operators like Backed Finance and Swarm Markets have introduced regulated replicas of listed assets, while some large managers have experimented with on-chain funds in the bond component.
The competition focuses on compliance, quality of custody, and breadth of the catalog; for those seeking a technical overview of tokenization models, also consult our page on asset tokenization.
Merger with Block Street and Advanced Features
Ondo has also announced a merger with Block Street, a startup focused on a “unified liquidity layer” for tokenized equities. The synergy aims to enable functionalities such as securities lending, short selling, and hedging on tokenized assets, in addition to building two-way markets for tickers like “AAPLon”, “NVDAon”, and “TSLAon”.
Operational Details and Documentation
- Fee: not yet specified in the announcement; details are awaited in the official terms of use.
- Redemption: methods and timing will be indicated in the legal documentation of the platform.
- Geographical limitations: the list of excluded jurisdictions is available in the official compliance materials.
Conclusion
Ondo’s move creates a bridge between regulated markets and on-chain infrastructures, offering an alternative channel to access US securities.
The scope of the initiative will depend on the quality of custody, clarity on investor rights, and the evolution of the regulatory framework, as well as the ability to maintain price alignment and liquidity compared to primary markets.
Editorial Note: the release did not include direct quotes that could be definitively attributed to executives of Ondo or Block Street, nor complete details on fees and redemption; this information will be added when available in official documents.