Ondo Finance Launches Global Markets Alliance with Solana Foundation and Bitget Wallet
Ondo Finance has formed the Global Markets Alliance, a strategic partnership with eight leading cryptocurrency entities, including the Solana Foundation and Bitget Wallet. This collaboration aims to accelerate the adoption of tokenized assets by establishing interoperability standards for tokenized stocks and bringing capital markets onchain.
The Growing Ecosystem of Ondo Finance
Specializing in real-world asset tokenization, Ondo Finance recently introduced a layer-1 blockchain tailored for institutional onchain assets. The platform’s tokenized treasury products, backed by US government debt, have attracted nearly $1.4 billion in user commitments. Over the past year, the total value locked (TVL) in the Ondo ecosystem has more than doubled, reaching $1.4 billion by June.
Expansion of the Tokenized RWA Market
The tokenized real-world assets (RWA) market has grown by 260% this year, driven by favorable US regulations and global demand for US financial products. Excluding stablecoins, the RWA market was valued at $23 billion in June, with tokenized private credit and US Treasury bonds leading this expansion.
Industry Leaders Enter the RWA Space
Major crypto companies are entering the RWA market to onchain traditional financial assets. Alchemy Pay partnered with Backed to offer 55 tokenized US exchange-traded funds, while Robinhood is developing tokenized stock offerings for European investors, with plans to include private credit tokenization.
Key Developments
- Ondo Finance’s alliance includes eight major crypto entities
- The initiative focuses on creating tokenized stock standards
- Ondo’s TVL surpassed $1.4 billion in June
- Tokenized RWA market grew 260% this year
- Alchemy Pay and Robinhood are expanding into RWAs
