OndoFinance tops $1B TVL

Ondo Finance said on May 11 that its Ondo Global Markets platform had surpassed $1 billion in total value locked, becoming the first tokenized stocks and ETFs venue to reach that level in less than eight months, according to the company. Ondo said the platform now offers more than 260 tokenized U.S. stocks and ETFs and is available across Solana, Ethereum and BNB Chain. The company’s website on May 18 showed Global Markets TVL at about $1.03 billion and roughly 49,200 unique holders. ### How fast did Ondo Global Markets get to $1 billion? Ondo said the platform reached the $1 billion mark in under eight months after launch. Third-party coverage published on May 12 also described the milestone as having been reached less than eight months after launch, matching the company’s timeline. The company said cumulative trading volume on the platform has exceeded $18 billion. (ondo.finance) Ondo also said it accounts for more than 70% of the tokenized equity issuer market, citing RWA.xyz data in its announcement. ### What exactly is Ondo selling onchain? Ondo Global Markets describes itself as a platform for tokenized stocks, ETFs and ADRs. (ondo.finance) Ondo says those tokens are freely transferable and usable in decentralized finance, while the Global Markets eligibility page says the products have not been registered under the U.S. Securities Act and may not be offered or sold in the United States or to U.S. persons unless an exemption applies. The company’s homepage on May 18 listed more than 260 assets on the platform. An earlier Ondo post about its Broadridge partnership said holders of more than 250 tokenized stocks and ETFs would be able to submit voting preferences and review prospectuses and regulatory filings through Broadridge’s infrastructure. ### Why are custody and investor rights getting attention? (ondo.finance) Ondo has said each tokenized stock or ETF is backed by the underlying security held in custody. That structure has been central to the company’s pitch that tokenized securities can mirror features of traditional market products while remaining transferable onchain. (ondo.finance) On April 27, Ondo said it had partnered with Broadridge Financial Solutions to let holders indicate voting preferences for underlying shares. Broadridge said the integration would connect a Web3-enabled platform with the governance and disclosure standards used in public markets, while Ondo’s Matthieu de Vergnes said the goal was to give holders of onchain wrapper stocks access to voting capabilities associated with traditional offchain shares. (ethnews.com) ### Which institutions have shown up around the platform? Ondo said in April that it was tokenizing five Franklin Templeton ETFs on Global Markets, marking the first time Franklin Templeton-managed ETFs were made available onchain through the platform. Ondo described Franklin Templeton as one of the world’s largest asset managers, with more than $1.7 trillion in assets under management. (ondo.finance) On May 6, Ondo also said it completed a near real-time cross-border, cross-bank redemption of a tokenized U.S. Treasury fund in a pilot with Kinexys by J.P. Morgan, Mastercard and Ripple. That transaction involved Treasuries rather than tokenized equities, but it added to the list of large financial and payments companies Ondo has named as partners in its tokenized asset business. (ondo.finance) ### What comes next for the tokenized stock platform? Ondo said on April 27 that Broadridge’s voting integration would continue to expand as the rollout progresses. Ondo also said on May 11 that eligible users can move 35 tokenized stocks and ETFs to Hyperliquid’s HyperEVM through the Ondo Bridge, extending the assets into another trading venue. (ondo.finance) As of May 18, Ondo’s Global Markets page still showed the service as unavailable in the United States. The same page listed current TVL at about $1.03 billion, 260-plus assets and roughly 49,200 unique holders, which are the figures to watch for the platform’s next update. (ondo.finance 1) (ondo.finance 2)