The Global Standard for
Tokenized Stocks

Ondo Stocks is a tokenization platform that supports onchain exposure to publicly traded securities. Eligible investors outside the U.S. can gain exposure to hundreds of U.S. publicly traded securities, including stocks and ETFs, including certain ETFs based on commodities. By providing tokenized exposure to these assets, Ondo Stocks brings the transparency, efficiency, and accessibility enabled by blockchain technology to the world’s most in-demand securities.

Ondo Stocks are designated by the “on” suffix at the end of the stock ticker. For example, the stock ticker for Tesla is TSLA, therefore the corresponding Ondo tokenized stock is called TSLAon. You can think of the “on” suffix as standing for Ondo.

All Ondo Stocks are fully backed by underlying shares (together with cash in transit), provide institutional-grade investor protections, and provide users with best-in-class liquidity through the just-in-time liquidity model Ondo Stocks pioneered.

Tokenized stocks and ETFs are blockchain-based tokens that track the value of publicly traded securities, giving holders exposure to traditional equity markets onchain. They are also known as tokenized equities and are a category of real-world assets (RWAs).

They work because each token provides exposure to the economic value of an underlying security. When you hold a tokenized stock, you receive the same economic exposure as owning the underlying stock with dividends reinvested (net of applicable withholding tax). Tokens can be minted and redeemed onchain and transferred or traded like any other crypto asset, bringing the economic exposure of traditional securities, the global access, efficiency, and programmability of crypto infrastructure.

Some of the most popular tokenized stocks are tokenized Nvidia (NVDAon), tokenized Tesla (TSLAon), tokenized Alphabet (GOOGLon), tokenized SpaceX (SPCXon), and tokenized Circle (CRCLon). Popular tokenized ETFs include SPDR S&P 500 ETF (SPYon) and Invesco QQQ (QQQon).

Ondo Stocks offers tokenized economic exposure to the performance of hundreds of US-listed stocks and ETFs across a range of categories. Examples include:

• ETFs: SPDR S&P 500 ETF (SPYon), Invesco QQQ (QQQon), and ProShares UltraPro QQQ (TQQQon)
• Technology stocks: Intel (INTCon), SK Hynix (SKHYon), and Nokia (NOKon)
• Consumer stocks: Amazon (AMZNon), Nike (NKEon), and Ford (Fon)
• Financial stocks: SoFi (SOFIon), Robinhood (HOODon), and Bank of America (BACon)
• Large cap stocks: NVIDIA (NVDAon), Alphabet (GOOGLon), and Oracle (ORCLon)
• Growth stocks: Tesla (TSLAon), Circle Internet Group (CRCLon), and Micron (MUon)
• Value stocks: AT&T (Ton), Verizon (VZon), and American Airlines (AALon)

New assets are added regularly. Browse the full list at app.ondo.finance.

Eligible investors outside the U.S. can buy tokenized stocks directly on the Ondo Stocks platform, previously known as Ondo Global Markets.

Buying tokenized stocks on Ondo Stocks takes three steps:

1. Connect your wallet at app.ondo.finance
2. Complete the onboarding process
3. Buy Ondo Stocks directly from your wallet

Ondo tokenized stocks can also be acquired 24/7 through various third-party exchanges, wallets, and DeFi protocols on BNB Chain, Solana and Ethereum.

In addition to buying tokenized stocks directly on the Ondo Stocks platform, eligible investors outside the U.S. can trade Ondo Stocks across a global network of third-party wallets, centralized exchanges (CEXs), decentralized exchanges (DEXs), DEX aggregators, and more.

Ondo Stocks are available across platforms including:

• 1inch Fusion
• UniswapX
• Ledger
• MyEtherWallet
• MetaMask
• PancakeSwapX
• Gate
• Trust Wallet
• Binance Wallet
• Bitget Wallet
• Blockchain.com
• KuCoin
• MEXC

Only eligible users who have successfully completed onboarding can mint or redeem Ondo Stocks directly on the Ondo Stocks platform.

Ondo Stocks are offered only outside the United States and only to eligible non-U.S. persons. Before you can mint or redeem directly on the platform, you must complete our onboarding process. Onboarding confirms that you are eligible, including that you are not a U.S. person, that you are not located in or a resident of a restricted jurisdiction, and that you are not a sanctioned or otherwise prohibited person. It also includes standard identity verification (KYC) and anti-money-laundering (AML) checks. Once you have successfully onboarded and been confirmed as eligible, you can mint and redeem directly from your connected wallet, subject to availability and the applicable terms.

Because Ondo Stocks are freely transferable onchain (subject to certain jurisdictional and other restrictions), it is possible to hold tokens without having onboarded, for example if you acquire them on a third-party exchange, wallet, or DeFi protocol. Holding tokens does not by itself make you eligible to mint or redeem on the platform. Redemptions are processed only for eligible tokenholders who have successfully completed onboarding. If you have not successfully completed onboarding, or you are not eligible, your tokens will not be redeemed on the platform, and your options are to continue holding them or to transfer or sell them on a secondary market where permitted.

For the full, current eligibility criteria, including restricted jurisdictions, see our Eligibility page.

Yes. Ondo tokenized stocks can be transferred and traded peer-to-peer 24/7, including on applicable exchanges and DeFi protocols (subject to the operation of those platforms). Minting and redeeming directly from the Ondo Stocks platform is available 24/5 (Sunday 8:00 pm ET to Friday 7:59 pm ET) for all assets, and 24/7 for six of the most actively traded assets (NVDAon, SPYon, CRCLon, TSLAon, QQQon, and GOOGLon), with more to follow (outside of scheduled downtimes), subject to certain exceptions including, but not limited to, special closures in underlying markets, scheduled system downtimes, and downtimes or extraordinary events.

In addition, please note that minting and redemption may be temporarily halted due to certain corporate actions (e.g. dividends, stock splits), market conditions (e.g. excessive volatility), or system risk controls. You can track halts at status.ondo.finance.

Yes. Ondo tokenized stocks are designed to be total-return trackers of their underlying securities. This means they provide exposure to both price movements and reinvested dividends and/or interest (net of applicable withholding tax), giving users exposure to the economic performance of the underlying equity over time, not just the price appreciation.

Dividends are automatically reinvested into the underlying stock (net of applicable withholding taxes), so each token reflects exposure to the total return of the security and holders don’t need to claim anything. Other corporate actions, such as stock splits, are reflected in the token so that holders keep the same economic exposure. Minting and redemption may be paused briefly around certain corporate actions. You can track this at status.ondo.finance.

Yes. Ondo tokenized stocks are freely transferable onchain outside the US (subject to certain jurisdictional and other restrictions) across Ethereum, BNB Chain, and Solana, and can be used in DeFi protocols that support them. For example, they are currently used as collateral for lending and borrowing on Morpho and for perps trading on Ondo Perps.

Ondo Stocks delivers best-in-class liquidity for minimal execution costs due to the just-in-time liquidity model it pioneered. Instead of relying on pre-funded liquidity pools of tokenized stocks like other platforms, Ondo Stocks enables instant, low-cost minting and redemption that taps directly into the far deeper liquidity of traditional markets like Nasdaq and NYSE.

The effect has been dramatic. At launch, some competing platforms showed roughly 200 basis points of price impact on a $200,000 tokenized SPY trade. Ondo Stocks reduced that to around 2 basis points, a hundredfold improvement, by connecting directly to liquidity that already existed. Ondo Stocks has since grown to more than $1 billion in TVL and continues to scale.

Ondo Stocks is built with institutional-grade investor protections:

• An independent third-party Verification Agent reviews asset backing and publishes a report each business day.
• An independent third-party Security Agent holds a first-priority security interest in the underlying assets for the tokenholders’ benefit, empowering the Security Agent to foreclose on those assets, sell them, and distribute proceeds to tokenholders in specified events of default.
• The underlying backing securities are never lent out without express consent of the tokenholder whose tokens are backed by those securities.

This helps ensure that investors are protected, and gives institutions the comfort they need to be willing to deploy the large amounts of capital required to truly move financial markets onchain.

Ondo Stocks empowers third-party protocols and developers to build innovative financial applications such as lending markets, structured products, and index vaults through its APIs and SDKs, making it a cornerstone for the next generation of financial services.