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Ondo Global Markets, the tokenized securities platform by the blockchain technology company Ondo Finance, has hit a record total value locked (TVL) of more than $240 million on Sep. 18.
This is a remarkable achievement for the newly launched platform that was launched barely a fortnight ago on Sep. 3.
In fact, Ondo Global Markets became the world's largest tokenized securities platform by TVL barely within 48 hours of its launch as the figure far surpassed that of its competitors.
Related: What is tokenization? Explained
Ondo Global Markets is a new platform that offers investors outside the U.S. access to more than 100 tokenized U.S. stocks and exchange-traded funds (ETFs).
Tokenization is the process of using blockchain technology to turn assets like stocks, funds, etc. into digital tokens. Besides digitizing and globalizing traditional market assets, tokenization enables 24/7 on-chain trading and makes assets more affordable due to fractional offerings.
Related: What are tokenized stocks? Explained
Currently available in Asia-Pacific, Europe, and Latin America, Ondo Global Markets lets investors trade tokenized U.S. securities easily. Each token is fully backed by the corresponding stock or ETF.
Ondo says investors can transfer tokenized assets they own across wallets, exchanges, and protocols.
Ondo brings over 100 tokenized U.S. stocks and ETFs on-chain
Ondo partners with Block Street to unlock global liquidity for tokenized assets and ETFs
BlackRock plans to tokenize ETFs following its blockbuster Bitcoin ETF
Global investors have been eyeing the U.S. securities market for a long time, but limited access and nationality have proven to be hurdles so far. Ondo addresses this challenge by offering tokenized securities to non-U.S. investors across the globe.
The market first went live on the Ethereum platform and is soon expected to expand to BNB Chain, Solana, and Ondo Chain.
Traders can access Ondo’s tokenized securities outside its platform also as leading wallets like BitGet Wallet, Trust Wallet, and OKX Wallet and crypto exchanges like Gate, Blockchain.com, and MEXC are offering the products.
As per the on-chain intelligence platform DeFiLlama, the TVL on Ondo Global Markets has hit $242.42 million as of Sep. 18.
Kraken’s xStocks with $59.3 million in TVL and Dinari’s dShares with $45.42 million in TVL lag far behind Ondo Global Markets. The platform’s TVL is greater than all others platform combined.
The TVL across all such platforms stood at $365 million at the time of writing.
Though investors have shown equal demand for tokenized stocks and ETFs on Ondo Global Markets, nine of the top ten assets by value locked are ETFs.
Among Ondo' most popular tokenized securities are:
SPDR S&P 500 ETF ($SPY)
iShares Core S&P 500 ETF ($IVV)
iShares 20+ Year Treasury Bond ETF ($TLT)
iShares Core MSCI EAFE ETF ($IEFA)
Invesco QQQ ($QQQ) – the only stock among the top 10 holdings
Ondo Finance is among the world's leading tokenization platforms and its other products have collectively attracted over $1.5 billion in assets under management (AUM).
