Tokenized securities issuer Ondo Finance announced on Tuesday the launch of its tokenization platform, Ondo Global Markets (Ondo GM), with the aim of bringing public securities such as stocks, bonds, and exchange-traded funds (ETFs) onto the blockchain.
Ondo stated that Ondo GM hopes to address existing issues in the current securities investment environment, such as high transaction fees, limited accessibility, transfer frictions, and lack of interoperability.
According to the announcement, this newly launched tokenization platform will provide investment opportunities in securities listed on the New York Stock Exchange and Nasdaq, including fixed-income ETFs and individual stocks like Apple and Tesla. Ondo stated:
Furthermore, Ondo GM reportedly allows issuers to integrate permissioned mechanisms within the distribution layer, thereby giving decision-making power back to stakeholders.
Following the release of the announcement, the governance token of Ondo Finance, ONDO, experienced a short-term increase of approximately 5% before returning to its original price. As of the time of writing, the trading price of ONDO is around $1.43. Source: [Data source]
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