What is Ondo Stocks?

Ondo Stocks (formerly Ondo Global Markets) is a platform for tokenizing real-world assets: US stocks, ETFs, commodities, treasuries, and private credit. Also known as RWAs, Ondo tokens are issued on blockchain networks, and backed 1:1 by the underlying asset they represent. As of July 2026, over 470 Ondo tokenized assets are supported on 3 networks: Ethereum, BNB Chain, and Solana. Holders get economic exposure to an asset's price and total return, including reinvested dividends, not legal ownership. Ondo Stocks tokenized assets are available to buy or sell 24/5 and trade peer-to-peer 24/7. Despite the current name, as mentioned Ondo Stocks spans more than equities. and is part of the broader Ondo Finance collective.

This guide covers the Ondo Stocks platform specifically: its history, structure, scale, and who can use it. For a broader explanation about how tokenized assets work, explore a guide to the fundamentals of RWAs.

Disclaimer: This article is for educational purposes only. It is not financial advice, not a solicitation, and not for UK audiences. Tokenized real-world assets are risky and not suitable for all users.

From Ondo Global Markets to Ondo Stocks

Ondo Finance launched tokenized real-world assets on Ethereum in 2023, starting with US Treasuries and bonds. On September 3, 2025, Ondo formally launched Ondo Global Markets, and expanded tokenized asset offerings to include over 100 US stocks and ETFs.

Ondo's catalog and infrastructure expanded quickly across assets, and two additional blockchain networks: Solana, and BNB Chain. On May 11, 2026, Ondo announced the platform had surpassed $1 billion in TVL—a threshold it called the fastest any tokenized asset class had reached, versus roughly three years for stablecoins and about two years for tokenized Treasuries. On July 13, 2026, Ondo renamed the platform from Ondo Global Markets to Ondo Stocks, by which point TVL had surpassed $1 billion and the catalog exceeded 438 listings. The underlying legal and settlement structure behind Ondo tokenization didn't change with the rebrand, only the consumer-facing name did. Some coverage still uses the old name, which is why this guide notes both.

How Ondo Stocks tokenization works

Ondo Stocks runs on a mint-and-redeem model. When a token is issued, Ondo, through its broker-dealer partner, buys and holds the corresponding underlying asset. Eligible, verified users deposit funds to mint tokens for a chosen stock, ETF, commodity, or treasury. These tokens can then be traded and held across Ethereum, Solana, and BNB Chain. Because each token is a total-return instrument, meaning it captures both price changes and dividends, the dividends are reinvested into the token's value, net of any applicable withholding tax, rather than paid out separately.

Ondo works with Alpaca Markets, a self-clearing, regulated, US-registered broker-dealer, to acquire and custody the underlying assets, with independent verification via Ankura Trust, who reviews Ondo's backing on an ongoing basis. On July 2, 2026, Ondo partnered with Broadridge to launch its first custodial tokenized US securities on Ethereum, alongside governance infrastructure including proxy voting, issuer communications, and regulatory disclosures for holders of participating assets. Proxy voting through Broadridge is a governance add-on for participating assets rather than a change to a token's default legal status: it lets holders submit voting preferences that guide how Ondo votes the underlying shares, without turning the token into a share with inherent voting rights.

Trading and settlement windows have widened over time. At launch, minting and redemption followed a 24/5 schedule tied to US market hours. Ondo introduced 24/7 instant minting and redemption for its most-traded tokens on June 25, 2026, letting qualified purchasers create or redeem tokens on weekends and holidays, with a minimum investment of $1 and minting and redemption fees waived. Because the underlying US equities market still only settles during standard traditional financial trading hours, Ondo's internal reserve and settlement system has to bridge the gap between round-the-clock token liquidity and the still-limited settlement windows of the real securities.

What real-world assets does Ondo Stocks tokenize?

Ondo Stocks lists tokenized US stocks and ETFs across a growing set of sectors, from large-cap tech and broad-market index trackers to newer thematic categories such as AI infrastructure, robotics, quantum computing, and semiconductors, following a June 2026 catalog expansion that added names like the Global X Robotics and AI ETF, IonQ, SK Hynix, and Micron. By Ondo Stocks' July 2026 rebrand, over 470 tokenized stocks, commodities, ETFs, and treasuries were available.

Where can Ondo Stocks tokenized assets be traded?

Ondo tokenized assets are supported on three blockchain networks, reaching users through wallets, exchanges, and apps that integrate the underlying protocol:

Once minted, Ondo tokenized assets behave like any other digital token and can be held, or traded peer-to-peer, in self-custodial wallets, such as MetaMask, or custodial accounts.

Ondo Stocks: key data and trading volume

Who can use Ondo Stocks?

Ondo Stocks uses a two-tier access model. Minting and redeeming tokens directly through Ondo is permissioned: it requires identity verification (KYC) and is limited to eligible users outside the US. Once minted, the tokens can move on secondary markets—decentralized exchanges, centralized exchanges, and other protocols—without a further per-user KYC check from Ondo. That isn't unrestricted access, though: the venues where the tokens trade apply their own geoblocking, and US users generally can't trade these tokenized assets even on secondary markets.

Access has widened through regulatory approvals. In November 2025, Ondo secured approval—via the Liechtenstein Financial Market Authority's MiCA passporting regime—to offer tokenized stocks and ETFs across 30 EU and EEA countries, a footprint it said covers more than 500 million potential investors. Its tokenized securities were also among the first admitted for trading in Abu Dhabi Global Market through a regulated trading venue, and Ondo has filed a registration statement with the SEC that could affect US availability if approved.

Why Ondo Stocks exists

Ondo Stocks exists to bring traditional financial assets onchain as digital tokens, so real-world assets like US stocks, ETFs, commodities, and treasuries can be held, traded, and used across blockchain networks the way any other token can. Conventional access to these assets is limited to standard exchange hours, gated behind brokerage account-opening requirements, and hard to combine with onchain apps. Tokenizing them changes that: holders gain price and dividend exposure from a self-custodial wallet, can trade outside standard hours via 24/7 minting, and can use that exposure as collateral in onchain products—while accepting a different set of risks than direct shareholding. Access is currently geo-restricted and, for the main mint-and-redeem platform, limited mainly to eligible non-US users. For how tokenized equities compare with the real thing, see tokenized RWAs vs traditional securities.

Benefits and considerations of Ondo Stocks

Ondo Perps, in context

Ondo's tokenized-stock infrastructure has also become collateral for other products. In July 2026, Ondo launched Ondo Perps, a perpetual futures venue where tokenized shares can serve as margin, offering up to 20x leverage across roughly two dozen markets. It is a separate product built on top of the tokenized-stock base layer, rather than a feature of Ondo Stocks itself—noted here only for context on how the underlying tokens are used.