Ondo Finance Acquired, Expands Offerings
RWA protocol Ondo Finance has been acquired by World Liberty Financial, signaling major consolidation in the tokenized asset space. Simultaneously, Ondo expanded its partnership with MEXC to offer 17 new tokenized U.S. stocks and ETFs, including Apple, Nvidia, and SPY, with zero-fee trading.
The acquisition consolidates a dominant player in the real-world asset (RWA) space. As of early 2026, Ondo Finance commanded a 60% market share of all tokenized securities and surpassed $2.5 billion in total value locked (TVL), making it the largest provider of both tokenized U.S. Treasuries and stocks. Acquirer World Liberty Financial (WLFI) is a DeFi protocol founded in 2024 with deep ties to the Trump family, aiming to merge traditional banking with decentralized finance. On-chain data shows WLFI had been accumulating ONDO tokens since at least December 2024, signaling a long-standing strategic interest before the full acquisition. The expanded MEXC deal is the ninth phase of a partnership initiated in September 2025. The collaboration has progressively scaled, now offering over 100 tokenized stock spot pairs to MEXC's 40 million users, using aggressive zero-fee trading promotions to drive adoption. Unlike earlier synthetic models, Ondo's tokenized stocks are backed 1:1 by the underlying securities, held with licensed U.S. custodial broker-dealers. This structure provides a compliant and institution-friendly gateway for on-chain exposure to traditional equities, with dividends automatically reinvested. This move follows the launch of Ondo Chain, a purpose-built Layer 1 blockchain for institutional-grade RWAs. The chain's design advisors include major TradFi institutions like Franklin Templeton, Wellington Management, and WisdomTree, underscoring Ondo's focus on building infrastructure for regulated financial players. The expansion also comes as Ondo secures key regulatory approvals, including a green light for trading tokenized securities in the Abu Dhabi Global Market. This progress toward regulatory clarity is a critical step for attracting institutional capital into the RWA sector.
