At the start of the year we highlighted the $867 trillion in traditional financial assets that can benefit from tokenization and that “now is the time to bring a broader array of institutional-grade RWAs onchain.” That’s exactly what we did.
In 2025, Ondo has successfully brought over 100 U.S. stocks and ETFs onchain and collaborated with premier Wall Street institutions like BlackRock, Fidelity, and Kinexys by J.P. Morgan. We have significantly expanded the RWA stack as part of “the largest shift in infrastructure since electronic trading,” and cleared the way for regulated tokenized assets across the U.S. and EU.
This recap highlights Ondo’s major 2025 milestones that are shaping not only the next phase of tokenization, but the next era of global finance.
Ondo Stocks Launches and Quickly Becomes Largest Tokenized Stocks Platform
Ondo Stocks brings U.S. stocks and ETFs onchain, issuing tokens that are freely transferable and usable across DeFi, fully backed 1:1 by offchain securities, and inherit the liquidity of major exchanges like Nasdaq and NYSE.
Key Ondo Stocks highlights:
- Ondo Stocks launches on Ethereum, giving investors 24/7 access to 100+ tokenized stocks and ETFs.
- 3.4 million daily active users on BNB Chain, one of the most widely used blockchain networks globally, gained access to Ondo tokenized securities.
- Ondo Bridge launches as the largest bridge for tokenized securities, connecting Ondo Stocks assets on Ethereum and BNB Chain, with more chains to come.
- Solana is on track to get access to hundreds of tokenized stocks and ETFs in early 2026.
- Ondo established itself as the largest tokenized stock platform with more market share than all other platforms and the most RWAs available.
- $2 billion in total volume and $370 million in TVL for Ondo Stocks achieved, with over $1 billion traded in a single month.
- ~$10m of NVDAon redemptions were processed in minutes and with near-zero slippage, demonstrating how tapping into Nasdaq and NYSE liquidity enables institutional-grade execution onchain.
“Ondo is set to bring trillions of RWAs onchain and usher in the institutional era of blockchain, ultimately democratizing access to the world’s most in-demand capital markets.” — Ondo President Ian De Bode
Ondo Clears The Way For Tokenization Across U.S. and EU
Ondo Finance is actively helping shape the tokenization policy landscape in the U.S. as it develops compliant solutions for the U.S., EU, and globally.
2025 policy takeaways:
- Ondo gains the most comprehensive set of SEC registrations to provide digital asset services in the United States with its acquisition of Oasis Pro, including its SEC-registered digital assets broker-dealer, alternative trading system (ATS), and transfer agent (TA) licenses. This provides Ondo with the infrastructure necessary to develop compliant and regulated tokenized securities markets in the U.S.
- 500+ million investors in 30 European countries can soon access regulated exposure to U.S. markets directly onchain, with Ondo receiving regulatory approval to bring tokenized stocks and ETFs to investors across the European Union (EU) and the broader European Economic Area (EEA).
- SEC ends Biden-era investigation into Ondo without charges. Ondo remained steadfast in its conviction that regulated, transparent tokenization models like Ondo’s are not only compatible with investor-protection principles, but can strengthen them. The path is now clearer than ever for tokenized Treasuries and tokenized equities to become core components of U.S. capital markets.
- Ondo submitted multiple open letters to the SEC, calling for transparency, submitting a roadmap for tokenized securities, and withdrawing a previous objection given the SEC helped address key issues we had previously raised.
- Ondo steps up its leadership in D.C., joining the Blockchain Association, the leading group driving pro-innovation U.S. digital-asset policy.
"We now have the most comprehensive suite of licenses and infrastructure necessary to develop compliant and regulated tokenized securities markets in the U.S. This acquisition makes Ondo's offering one of the strongest commitments to building a transparent, accessible, and compliant financial system onchain." — Nathan Allman, CEO & Founder of Ondo Finance
Wall Street’s Premier Institutions Partner With Ondo
As the industry leader for tokenized RWAs, Ondo is working with the world’s largest institutions to bring traditional assets onchain.
Key collaborations with leading institutions:
- Fidelity’s new tokenized fund was anchored by OUSG, Ondo Finance’s tokenized U.S. treasury fund. OUSG’s portfolio also now spans funds from the world’s most trusted asset managers, including BlackRock, Fidelity, Franklin Templeton, State Street, WisdomTree, and Wellington Management.
- State Street Investment Management, Galaxy Digital, and Ondo plan to launch a tokenized money market fund. OUSG, Ondo’s flagship tokenized fund, plans to serve as the lead anchor investor when it launches in early 2026.
- Kinexys by J.P. Morgan and Ondo achieve major RWA milestone together with Chainlink. The successful completion demonstrates a scalable approach to cross-chain, atomic settlement of tokenized assets.
- PayPal’s stablecoin, PYUSD, and Ondo’s OUSG fund can now be converted onchain 24/7. The $25 million facility makes it one of the largest such facilities for stablecoins and tokenized money market funds.
- BX Digital, part of the Boerse Stuttgart Group, Europe's sixth-largest exchange group with €90 billion in annual trading volume, and Ondo partner to launch regulated trading of Ondo tokenized stocks and ETFs in Europe.
- Mastercard to onboard Ondo to its Multi-Token Network, one of the first live instances of direct connectivity between a private payments network and public blockchain networks.
- Franklin Templeton, Wellington Management, WisdomTree, Google Cloud, ABN Amro, Aon, and McKinsey, became design advisors for Ondo Chain, joining other notable industry leaders such as BlackRock, PayPal and Morgan Stanley already in the Ondo ecosystem.
- Ondo Nexus is introduced, leveraging assets from BlackRock, Franklin Templeton, Wellington Management, and WisdomTree to deliver instant liquidity for third-party tokenized treasuries.
“The demonstrated cross-chain solution is a testament to what can be achieved through strong collaboration across diverse segments of the Web3 ecosystem, and we are pleased to have worked with Ondo.” — Nelli Zaltsman, Head of Platform Settlement Solutions, Kinexys Digital Payments at Kinexys by J.P. Morgan.
Unparalleled Ondo Expansion Across RWA Stack
Ondo is rapidly expanding across the tokenization stack to provide end-users and partners with the best assets and infrastructure available.
Key Ondo expansions include:
- $250 million Ondo Catalyst initiative focused on developing the next generation of tokenization launches with support from Pantera Capital.
- Ondo Chain was announced, a layer 1 blockchain purpose-built for institutional-grade RWAs.
- Ondo acquires Strangelove to accelerate our full-stack RWA platform development. This significantly strengthened our position as the only full-stack tokenized asset platform with omnichain asset issuance, protocol design and blockchain development capabilities.
- USDY adoption continues across Stellar, Sei, Alchemy Pay, ICRYPEX, Zodia, TruBit, and more, while OUSG is deployed on Ripple’s XRP Ledger.
"Tokenization of traditional financial assets is the largest shift in infrastructure since electronic trading, and Ondo is at the forefront of it with the right traction and partners." — Paul Veradittakit, Managing Partner, Pantera Capital
The Future of RWAs Will Be Defined at Ondo Summit
2025 was a transformative year for tokenization, with Ondo taking RWA tokenization from a promising niche to the most important sector of the blockchain economy. With the groundwork laid and rapidly accelerating adoption, tokenization is emerging as the default infrastructure for the next generation of global finance. That future will be defined at Ondo Summit, **the first major blockchain conference of 2026. **
Ondo Summit brings traditional finance, blockchain, and policy leaders together on February 3 in NYC to lay out the roadmap for the future of tokenization. BlackRock, WisdomTree, Pantera Capital, DTCC, Fidelity, Franklin Templeton, BNY, State Street Investment Management, Stocktwits, Bitget, and many other leading institutions will join Ondo on stage to outline the future of financial markets.
RSVP now to join us in person or watch the live stream.
