The introduction of the Ondo Global Markets platform has been a significant catalyst for this growth, amassing over $160 million in assets within a mere few days. This platform empowers investors to engage with tokenized versions of more than 100 stocks and ETFs, encompassing major companies like Tesla, Nvidia, and Google.

Ondo Finance: A Leader in RWA Tokenization

By integrating Wall Street assets onto the blockchain, Ondo Finance is positioning itself as a frontrunner in the expansive $26 billion RWA tokenization market. Analysts suggest that this strategic move could revolutionize global investment, particularly benefiting international users who have traditionally faced obstacles in accessing the stock market.

Explosive Growth in Ondo Finance’s Ecosystem

Beyond its equities platform, Ondo Finance has witnessed extraordinary expansion across its entire ecosystem. The TVL on its DeFi protocols has skyrocketed from $563 million earlier this year to over $1.57 billion today. This surge is mainly attributed to Ondo’s yield-bearing products, including:

• Ondo US Dollar Yield (USDY): Over $500 million in assets
• Ondo Short-Term U.S. Treasuries Fund (OUSG): $724 million locked

Furthermore, Ondo’s lending division, known as Flux, has grown rapidly, managing $42 million in assets, a significant increase from just $4 million last November. Flux offers users the opportunity to borrow stablecoins against tokenized U.S. Treasuries, thus creating new pathways for liquidity.

Ondo Finance’s Strategic Blockchain Launch

In addition to these accomplishments, Ondo Finance has initiated its own blockchain tailored specifically for tokenization, further securing its position in a sector anticipated to reach trillions in value.

ONDO Price Outlook: Will Bulls Push Past $1.145?

Technically, Ondo has charted an inverse head-and-shoulders pattern, signaling a potential bullish reversal. The token recently surpassed the $1.05 resistance and is now aiming for a breakout above $1.145, a level last reached in July. Successfully crossing this threshold could pave the way to $1.18 and potentially $1.26 in the near term.

Nevertheless, traders should be mindful of profit-taking risks, as ONDO’s relative strength index (RSI) indicates overbought conditions. However, with financial giants like BlackRock hinting at blockchain-based ETFs and anticipated Fed rate cuts likely to spark a broader risk rally, momentum may continue to favor Ondo.

Should this upward trend persist, Ondo Finance not only solidifies its status as a DeFi leader but also significantly boosts the rapidly growing demand for tokenized real-world assets.

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Chase Herro, a co-founder of World Liberty Financial, which is tied to the Trump family, reportedly revealed at the summit that the crypto platform will establish a “strategic reserve” using the tokens it has, including the Ondo (ONDO) token.

The development of Ondo Chain will be guided by Ondo’s current members such as BlackRock, PayPal, and Morgan Stanley, and new members including Franklin Templeton, WisdomTree, Google Cloud, ABN Amro, Aon, and McKinsey.

The primary objective of Ondo’s layer-1 is to facilitate numerous institutional use cases, including prime brokerage with a cross-collateralized margin for RWAs, staking tokenized RWAs, and wealth management. However, the exact launch date for layer-1 hasn’t been disclosed.

Ondo Finance mentioned that Ondo Chain validators could stake RWAs to safeguard the network. However, it will operate on a permissioned model to avoid MEV and front-running. This strategy will enhance investor protections and make Ondo Chain suitable for institutions seeking best execution guarantees. However, the platform will be open for anyone to issue tokens, develop apps, and participate.

The announcement comes as World Liberty Financial plans to create a strategic reserve with the tokens it owns. This reserve is likely to include the $470,000 worth of ONDO tokens it purchased recently, according to data from Arkham Intelligence. The platform bought $270,000 worth of ONDO tokens on Dec. 15 during a flurry of token purchases amounting to nearly $45 million, which also included Ether (ETH) and Coinbase Wrapped BTC (cbBTC). Currently, the crypto platform of the Trump family holds $35.4 million worth of different cryptocurrencies.

The post Ondo Finance Announces Layer-1 Blockchain for Institutional Real World Asset Tokenization appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

As stated in the company’s recent announcement, “Ondo Global Markets is set to revolutionize securities in the same way stablecoins transformed dollars. Through the application of blockchain technology, we aim to migrate institutional-grade financial markets onchain, making them more accessible, transparent, and efficient.”

Ondo GM is designed to address prevalent challenges in the securities investment landscape, such as high fees, limited access, transfer friction, and lack of interoperability.

Offering exposure to over a thousand securities listed on the NYSE and NASDAQ, the newly launched platform will include fixed-income ETFs and individual stocks from companies like Apple and Tesla.

Ondo explained, “Tokens issued on the Ondo GM platform will have a 1:1 backing by an underlying asset, such as a public stock, and will be freely transferable outside the US, similar to stablecoins.”

The platform also promises to offer issuers integrated permissioning within the distribution layer, thereby empowering stakeholders with decision-making capabilities.

Not only does this platform offer benefits to individual investors and issuers, but also serves as a new distribution channel for asset managers to reach a global pool of investors, according to Ondo.

At present, Ondo Finance boasts a total value locked of over $650 million, as per DefiLlama data.

Disclaimer: The Block is an independent media outlet offering news, research, and data. Foresight Ventures, a majority investor of The Block as of November 2023, invests in various companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. Despite these affiliations, The Block continues to operate independently, delivering objective and timely crypto industry insights. Our current financial disclosures are available upon request. © 2024 The Block. All Rights Reserved. This article is for informational purposes and not intended to be used as legal, tax, investment, financial, or other advice.

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