Track market-moving stories before they get noisy

ONDO, the native token of Ondo Finance, is attracting renewed market attention as the project continues to clarify its role in the expanding tokenization sector. Recent price movement points to cautious optimism among traders, as the focus shifts to ONDO’s technical signals and derivatives market activity.

Technical overview: ONDO maintains key levelsONDO is currently trading at $0.3791, reflecting a 1.22% decrease over the past 24 hours. Despite this minor dip, the token remains above multiple significant exponential moving averages (EMAs). As of the latest data, ONDO trades above its 20-day EMA at $0.3643, 50-day EMA at $0.3600, and 100-day EMA at $0.3547.

The price also sits higher than the 200-day EMA, which hovers at $0.3718, suggesting a generally constructive technical setup. The Relative Strength Index (RSI) stands at 56.23 and is above its moving average of 51.40, indicating ongoing buying interest without signaling overbought conditions.

Recent daily candlesticks show the token consolidating in the $0.38–$0.40 range. Analysts consider this zone particularly important, as a decisive move outside these boundaries could provide clues to the next major trend.

EMA PeriodLevel ($)20-day EMA0.364350-day EMA0.3600100-day EMA0.3547200-day EMA0.3718Mini dictionary: Ondo Finance, a decentralized finance (DeFi) protocol focused on real-world asset tokenization and bridging traditional finance with blockchain networks.

Market participation climbs as open interest risesData from CoinGlass reveals that ONDO’s open interest in the derivatives market is approaching $250 million, coinciding with the recent price reaching around $0.39. This growth typically signals increased trader participation, though it does not clarify the direction of these positions.

Trading volume has also surged intermittently following ONDO’s recent volatility. If the token breaks out of the current consolidation zone, this heightened activity could amplify market moves, introducing greater volatility in either direction.

Increased open interest and trading volume show broader participation in ONDO, but traders remain focused on whether a breakout above $0.40 will confirm sustained bullish momentum.

Support and resistance zones to watchONDO’s immediate support levels span $0.3718 to $0.3643, while resistance stands between $0.39 and $0.40. Sustained trading above $0.40—especially if reinforced by higher volume—could bolster the outlook for continued gains. Conversely, a move below clustered EMAs may indicate further consolidation is needed before another rally attempt.

Observers continue to monitor whether the token’s growing prominence in tokenization can translate into additional price momentum. The next clear move will depend on how buyers and sellers respond as ONDO navigates these key technical and psychological levels.

Both narrative interest around Ondo Finance and tangible trading participation are present, leaving the next direction for ONDO dependent on a decisive move out of consolidation.

THE STREET: Ondo makes major change to USDY on Aptos and Noble

Uniswap founder Hayden Adams compared Robinhood's and Ondo's stock tokens to early stablecoins on Friday, hours after Dinari co-founder Gabriel Otte called the same instruments "indisputably worse for the end investors than even common stocks." Three models are competing for $2.91 billion of tokenized equities, and the SEC has already sorted them into separate legal boxes.

The public fight between AMC Entertainment Chief Executive Adam Aron and Robinhood over tokenized AMC shares spilled on Friday into a dispute among the companies that build the instruments, over which of three incompatible designs should become the standard.

The models differ in what the holder actually owns. Robinhood's stock tokens are debt securities issued by an unregulated Jersey entity, sold only to non-US persons, that pay economic exposure and confer no claim on the referenced company. Ondo, xStocks and Dinari hold the underlying shares through regulated intermediaries and pass the economics through, with Dinari the only one of the three selling to US investors. Securitize and Superstate put a company's own registered shares onchain, with the issuer and its transfer agent inside the transaction. The SEC's Division of Corporation Finance mapped the three categories in a statement on Jan. 28, and the model determines which securities laws apply and what a holder can claim in a bankruptcy.

Tokenized stocks hold $2.91 billion, up 14.4% in 30 days across 2.67 million holders, rwa.xyz data shows. Ondo leads with $869.6 million, followed by bStocks at $659.4 million, xStocks at $633.7 million, Securitize at $274.1 million, Bitget at $170.5 million, Robinhood at $133.2 million, Figure at $84.7 million, Superstate at $46.4 million and Dinari at $11.2 million.

Robinhood's book is a sixth the size of Ondo's and its trading business is the largest of the group. Robinhood Chain turned over $1.56 billion of DEX volume in 24 hours, more than double the level a week earlier, according to DefiLlama, and passed Solana in tokenized stock volume in late July on the strength of memecoin pairs.

Snake Juice And StablecoinsGabriel Otte, co-founder of Dinari, which sells 1:1 custodial tokenized stocks to US investors through an SEC-registered broker-dealer, opened the argument at 12:18 p.m. ET Friday under Robinhood Chief Executive Vlad Tenev's defense of the product, "We stand behind Stock Tokens."

"Many took shortcuts to make 'tokenized stocks' that are synthetic and indisputably worse for the end investor than stocks," Otte wrote. "It's time for the industry to follow @DinariGlobal's lead and adopt the custodial model that protects investor rights."

Six minutes later he named both companies and set aside the securities-law question Aron had raised. "To be clear, it's not about legality, it's just that synthetic tokens like @RobinhoodApp stock tokens and @Ondo are just indisputably worse for the end investors than even common stocks," he wrote.

Hayden Adams, the founder of Uniswap, whose AMM is the largest DEX on Robinhood Chain and the venue where the memecoin pools have been pricing the stock tokens, answered at 6:08 p.m. ET. "They're not worse if you want programmability, or to trade at night/weekend/holidays, live outside the US, don't have a bank account, want to use them in DeFi apps/hold them in a crypto wallets," he wrote. "End of the day, tokenized stocks are pretty similar to early stablecoins - are they exactly the same as dollars? No. But they are meeting a user demand in a way that nothing else is."

Otte replied that the same demand could be met "without it being synthetic and being an inferior product with price dislocation."

Dinari amplified the version of the objection put by Anna Wroblewska, its chief business officer, the same morning: "The main problem here isn't tokenization. It's the marketing of a discretionary debt instrument, which functions essentially as an onchain CFD, as an investment in the US stock market."

Carlos Domingo, chief executive of Securitize, took Aron's side on Thursday night. "I would also not want people creating offshore derivatives of our stock that trade all over the place," he wrote. "This is why we tokenized our own stock natively and in the US, in a fully compliant way."

Linked Securities At The SECThe Corp Fin statement gives each model a different legal shape. Issuer-sponsored tokens are the security itself, with the issuer or its agent keeping the master securityholder file onchain. Third-party custodial tokens represent "the holder's indirect interest in the underlying security via the security entitlement." The third category, which the staff calls linked securities, covers a token "issued by the third party itself that provides synthetic exposure to a referenced security, but it is not an obligation of the issuer of the referenced security and confers no rights or benefits from the issuer of the referenced security."

Robinhood's own developer documentation describes stock tokens as "tokenised debt securities issued by Robinhood Assets (Jersey) Limited" that grant no "legal or beneficial rights in, or against the issuer of, those underlying securities." Dividends run through an onchain multiplier rather than a payment. Only one firm, BBVI, can create or redeem them.

Dinari's dShares are held with FINRA-member broker-dealer Alpaca Securities in segregated custodial accounts, pay cash dividends in stablecoins and can be burned for redemption at market value. Ondo and Broadridge added proxy voting to more than 250 Ondo tokenized stocks and ETFs in April, through Ondo Global Markets, which is not available in the US.

The staff also flagged the counterparty question the AMC episode raised: holders "may be exposed to risks with respect to the third party, such as bankruptcy, to which a holder of the underlying security would not necessarily be exposed."

Issuers In The RoomSecuritize runs five regulated affiliates: a broker-dealer that operates an SEC-regulated alternative trading system, an SEC-registered transfer agent, an exempt reporting adviser, a fund administrator and an EU investment firm authorized under the DLT Pilot Regime, according to the company. That stack is what lets it act as the record-keeper for a tokenized security rather than a counterparty to it, and it is how BlackRock's BUIDL and funds from Apollo, Hamilton Lane, KKR and VanEck came onchain. Securitize says it has tokenized more than $4 billion of assets.

The company took its own shares public on the NYSE as SECZ on July 2 after merging with Cantor Equity Partners II, and tokenized them on day one. SECZ is the largest single tokenized equity tracked by rwa.xyz.

Superstate runs the same idea for companies that are already listed. Its Opening Bell program appoints Superstate as a company's digital transfer agent and issues the company's registered shares directly onto Ethereum and Solana. "Tokenized shares are not derivatives, wrappers, or new share classes," the product page states; the tokens are recorded in the investor's name and carry the same economic and governance rights as the shares on the exchange.

Galaxy Digital and Forward Industries have shares onchain through it, and Forward Industries accounts for nearly all of Superstate's $46.4 million on rwa.xyz. Founder and Chief Executive Robert Leshner, who also founded Compound, called SharpLink the first public company to tokenize its shares on Ethereum through the program in September 2025.

Best Execution Versus SlippageBrian Huang, co-founder of onchain portfolio manager Glider and a former XTX Markets equities trader, argued on The Defiant's livestream Friday that the venue matters more than the wrapper. "AMMs do not guarantee best execution for consumers," he said. "In the US, we have protections around what's called the national best bid offer or best execution rules, where whether you're trading on Robinhood, Coinbase or any of the major apps or brokers in the US, you are guaranteed to get best execution. Now, that is not true via AMMs."

Huang called the rights objections false. "You do get the voting rights through particular issuers," he said. "Ondo has worked on this with Broadridge." He said Ondo's request-for-quote design, in which a market maker sources the share off-chain and the token is minted against it, is the structure the market will converge on, and that the dislocations end when 24/7 creation and redemption exists on both sides. "You will not see these dislocations a year from now."

He made the same case at RWA Summit on Wednesday, calling the arguments from Dinari, Securitize and the NYSE "propaganda." The Defiant reported his exchange with Adams over AMMs and correlated pairs on Aug. 18.

Programmable Demand, No SupplyBinji Pande, a founding member of Ethereum R&D lab Ethlabs, argued on the same stream that the blowouts are a supply problem rather than a design flaw. "We kind of figured out how to program demand before we figured out how to program supply, and you kind of need both," he said. He did not defend the price gaps, calling a six-dollar tokenized AMC print "bad market structure" and saying it was not good "for any market."

Pande's framing after tokenized AMC and Hims & Hers broke against their reference prices over the Aug. 29 weekend was that issuers have lost control over how their assets are used, the same way publishers lost control over how information traveled. A memecoin called BONER had by then cornered about half the tokenized Hims & Hers float. On Wednesday he predicted the pattern spreads to penny stocks.

Huang's objection to the memecoin pairings is mechanical. "When you put in a meme coin with the stock, they're not really correlated assets. You're exposing people to a lot of impermanent loss in those situations."

Transfer Agents Want A LineThe firms that keep shareholder records have asked the SEC to draw the distinction in rules. Continental Stock Transfer & Trust told the agency's crypto task force on July 21 that third-party tokens "do not establish a legal relationship between the token holder and the issuer" and can "confuse investors, impair issuer governance, create disclosure and market-integrity risks, and bypass the shareholder-record and corporate-action infrastructure." It asked the SEC to exclude them from regulatory relief absent safeguards. Computershare asked a week later for neutral treatment across all book-entry forms instead.

Ariel Givner, a corporate and intellectual property lawyer in fintech and the founder of Givner Law, posted the investor-side version of the argument on Friday morning, drawing 109,000 views. "You bought economic exposure from an offshore affiliate that slapped someone else's ticker on a derivative," she wrote. "That is NOT tokenization."

AMC has filed nothing with the SEC on the dispute. Robinhood's chief legal officer Dan Gallagher, an SEC commissioner from 2011 to 2015, told Aron to "send your lawyers and we'll educate them," as The Defiant reported on Friday.

ONDO traded at $0.3689, up 5.1% over 24 hours and 5.2% over seven days, according to CoinGecko.

Figures via rwa.xyz, DefiLlama and CoinGecko on Sept. 5.

@Ondo has added STRCon to its growing roster of tokenized assets with round-the-clock minting and redemption, giving eligible investors continuous on-chain access to @Strategy's variable-rate Stretch preferred stock, $STRC.

What STRCon Offers

Always-On Infrastructure Keeps Expanding

Most of the platform's catalog, however, remains on weekday-only minting hours, with the always-on set covering a select group of assets.

Sources:
Ondo Finance: Real 24/7 Trading for Tokenized Stocks (Official Blog)
Crypto.news: Saturn Adds Ondo Tokenized Stocks to STRC Products
The Defiant: Ondo Finance Launches 24/7 Minting and Redemption for Tokenized US Stocks and ETFs

A Year That Redefined Tokenized Equities@Ondo is marking the first anniversary of Ondo Stocks, the protocol it launched in September 2025 to give non-US investors around-the-clock access to US equities on-chain. Twelve months on, the platform has moved well beyond proof-of-concept territory and established itself as the dominant force in a market that barely existed a year ago.

According to Crypto Briefing, The protocol built institutional-grade settlement rails across @Solana, @Ethereum, and @BNBChain, enabling continuous equity exposure outside traditional market hours.

From $100M Market to Nearly $3BThe broader tokenized stock market has expanded sharply since Ondo entered it. The original copy notes the market has grown nearly 23x, from around $100M to close to $3B, as institutional and retail demand for on-chain equity exposure accelerates.

Ondo has led that charge.

The first $1B milestone arrived in May 2026.

Regulatory progress has accompanied the growth. using BlackRock's IVV ETF and Micron shares as the initial securities.

The wider RWA landscape is expanding in parallel. suggesting that on-chain equities are becoming the primary entry point for new participants in the asset class. With Ondo holding the category lead on TVL, volume, and market share, its first anniversary arrives at a moment when the infrastructure it built is starting to look less like a niche experiment and more like a foundational layer for global equity access.

Sources:
Crypto Briefing: Ondo Finance leads tokenized stock market with 34% share
CoinDesk: Ondo Finance debuts SEC-aligned tokenized stock model
CEX.IO: 3 in 4 New RWA Wallets in 2026 Belong to Tokenized Stocks

@Ondo has submitted three formal comment letters to the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), calling for a modernized regulatory framework that addresses perpetual futures, portfolio margining, and market data reporting for on-chain markets.

Outcomes Over Familiarity Central to Ondo's argument is the view that the existing legal regime can already accommodate on-chain markets, provided regulators shift their focus toward functional outcomes rather than defaulting to a "familiarity" approach that maps new technology onto legacy structures. The firm argues that forcing on-chain products into frameworks designed for traditional venues can create unnecessary friction without delivering meaningful investor protection.

On the market data front, Ondo points to on-chain verification as a structural alternative to after-the-fact reporting requirements. Because transactions are recorded on a public ledger in real time, the firm contends that mandatory post-trade reporting, as it exists for conventional venues, becomes largely redundant.

Perps Platform Already Live The comment letters arrive with a live product as supporting evidence. Ondo Perps launched in July 2026 and lets non-U.S. traders use tokenized assets, rather than stablecoins, as margin. Ian De Bode, President at Ondo Finance, described it as "the first time a permissionless equity perps platform has been built with the infrastructure required to unlock liquidity, speed, and capital efficiency comparable to traditional derivatives markets." The platform offers up to 20x leverage on stocks, indices, and commodities, including tokenized versions of major names such as NVDA, TSLA, and AAPL.

The platform accepts tokenized real-world assets as collateral alongside stablecoins, meaning traders who already hold tokenized equities can post them directly as margin rather than sourcing a separate pool of stablecoins. Spot holdings and perp positions are managed on the same platform, allowing traders to hedge without moving capital across multiple venues.

By citing the ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3 Perps in its regulatory submissions, Ondo is making a practical case: on-chain infrastructure can meet regulatory objectives through transparency and programmable settlement, rather than through compliance mechanisms borrowed from traditional finance.

The submissions land at a pivotal moment for crypto derivatives policy. The CFTC established the first affirmative U.S. regulatory framework for crypto asset perpetual futures contracts through three coordinated actions taken on May 29, 2026. Historically, perpetual contracts have been offered primarily on offshore venues, in part due to regulatory uncertainty in the United States, and the CFTC's recent actions reflect an effort to bring these products onshore while clarifying their regulatory classification.

Ondo's letters represent one of the more detailed industry-led efforts to shape how that framework develops, using a functioning on-chain platform to argue that regulators need not choose between innovation and oversight.

Sources:
Ondo Finance: Introducing Ondo Perps
PR Newswire: Ondo Perps Launches First Equity Perpetuals Platform
Akin Gump: CFTC Advances Framework for Perpetual Contracts and 24/7 Markets

Ondo Finance is urging US regulators to bring perpetual futures tied to individual stocks onshore, arguing that the products can already operate under the country’s existing security futures framework without new rules.

In three Aug. 24 comment letters to the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC), Ondo argued that existing rules can accommodate perpetual stock futures while also accounting for modern margining practices and onchain market data.

Ondo said its Panama-based affiliate already offers stablecoin-settled perpetual futures on individual US-listed stocks outside the United States, with the platform recording $8 billion in cumulative trading volume as of Aug. 14, around six weeks after its launch.

Ondo ranks fourth among tokenized RWA managers by distributed value. Source: RWA.xyz

The company argued that scheduled funding payments can keep perpetual contracts aligned with the price of their underlying stocks, performing a similar function to expiration in traditional futures.

“Nothing in the statutory definition of a security futures product requires a fixed expiration date,” Ondo said in its product-classification letter.

Ondo also noted that many of the stocks underlying offshore perpetuals are principally traded on US exchanges. “Bringing that activity back to the U.S. should not be an open question; it’s something both agencies should actively pursue,” the company said.

Ondo is among the largest managers of tokenized real-world assets, ranking fourth with about $2.6 billion in distributed value as of Wednesday, according to RWA.xyz data.

US regulators look to modernize market rulesOndo’s proposal comes as US regulators reconsider how existing market rules apply to onchain products, including perpetual futures and tokenized securities.

President Donald Trump said in August that CFTC Chair Michael Selig was working to bring Hyperliquid into the United States in a “fully compliant and legal fashion.” Hyperliquid is best known for its onchain perpetual futures market, though neither the CFTC nor Hyperliquid has publicly detailed how US access would work.

HYPE, the native token of Hyperliquid, jumped more than 20% following Trump’s comments and has gained nearly 49% over the past month to trade around $81 on Wednesday, according to CoinGecko data.

HYPE has gained nearly 49% over the past month. Source: CoinGecko

The SEC, which oversees securities markets, and the CFTC, which regulates US derivatives markets, have also stepped up coordination this year, signing a memorandum of understanding in March to harmonize oversight in areas where their jurisdictions overlap.

On Tuesday, the SEC proposed overhauling its decades-old transfer agent framework, citing growing demand for blockchain-native recordkeeping and tokenized securities in US markets as the agency reexamines rules built for older market infrastructure.

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Ondo Finance has asked US regulators to bring perpetual futures tied to individual stocks onshore after its offshore platform recorded $8 billion in cumulative trading volume within roughly six weeks.

Summary

Ondo says existing US security futures rules can cover perpetual contracts tied to individual stocks. Its Panama-based affiliate had processed $8 billion in cumulative volume by Aug. 14. Recurring funding payments keep the contracts close to the prices of their underlying shares. The SEC and CFTC are reviewing rules for onchain derivatives and tokenized securities. Ondo Finance, in three Aug. 24 comment letters to the Securities and Exchange Commission and Commodity Futures Trading Commission, said the agencies could accommodate stock perpetual futures through the existing security futures framework.

The company’s proposal covers product classification, margin requirements and the use of onchain market data. Instead of asking Congress or federal agencies to create a separate regulatory category, Ondo wants the SEC and CFTC to apply rules already used for futures tied to individual securities.

According to its product-classification letter, the lack of a fixed expiration date does not prevent a perpetual contract from qualifying as a security futures product.

“Nothing in the statutory definition of a security futures product requires a fixed expiration date,” Ondo said.

Ondo says funding payments can replace expiration Traditional futures expire on a set date, when the contract settles against the value of its underlying asset. Perpetual futures have no scheduled expiry and use recurring funding payments to keep their market prices close to the assets they track.

When a perpetual trades above its reference price, traders holding long positions generally pay traders holding short positions. Payments move in the opposite direction when the contract trades below the reference price, creating an incentive for both prices to converge.

Ondo told regulators that the funding mechanism performs a function similar to expiration in a dated futures contract. Under its interpretation, the economic structure of the product matters more than whether the contract ends on a predetermined date.

The filing also addresses updated margin systems and blockchain-based pricing data. Ondo argued that regulators could account for such features within current law, although the SEC and CFTC would still need to decide how individual products satisfy listing, trading, and investor-protection requirements.

A similar request reached both agencies on Aug. 24, when the Hyperliquid Policy Center proposed treating equity perpetuals with futures-like characteristics as security futures. The group said Hyperliquid’s HIP-3 markets had processed more than $480 billion in cumulative notional volume during their first 10 months.

Under that proposal, regulators would first examine how a contract is structured and traded before considering the asset it tracks. A futures-style contract tied to an individual stock would then fall under the security futures system jointly administered by the SEC and CFTC.

Security futures combine features of securities and futures law. A CFTC-regulated designated contract market can list them after notice-registering with the SEC, while a national securities exchange can use a parallel registration route with the CFTC.

Offshore stock perpetuals have processed $8B Through a Panama-based affiliate, Ondo already offers stablecoin-settled perpetual futures referencing individual US-listed stocks to eligible users outside the United States.

The platform had generated $8 billion in cumulative trading volume by Aug. 14, according to the company’s SEC submission. Ondo said the total was reached about six weeks after the product launched.

Many referenced shares principally trade on US exchanges, even though American users cannot access the offshore contracts. The arrangement allows eligible non-US traders to gain price exposure to individual stocks while settling their positions with stablecoins instead of using a conventional brokerage account.

“Bringing that activity back to the U.S. should not be an open question; it’s something both agencies should actively pursue,” the company said.

Ondo’s request would not automatically authorize every stock perpetual. Exchanges, brokers, and clearing organizations would still need to comply with the registration, listing, margin, and customer-protection requirements that apply to security futures.

The proposal could nonetheless give US investors a regulated route to products that are already available through offshore venues. American access would depend on the agencies accepting Ondo’s classification and determining how current security futures standards apply to perpetual contracts.

Former SEC counsel Ashley Ebersole recently told crypto.news that creating a US regulatory pathway for onchain perpetuals could take 10 to 12 months if the agencies pursue rulemaking, public comments and implementation. Ebersole said the process could move faster if regulators rely heavily on existing authority or exemptions.

Ondo expands its tokenized securities business Alongside its derivatives proposal, Ondo operates one of the largest tokenized real-world asset businesses. RWA.xyz ranked the company fourth among RWA managers, with approximately $2.6 billion in distributed asset value as of Wednesday.

Ondo Stocks listed more than 440 tokenized stocks and exchange-traded funds across Ethereum, BNB Chain and Solana as of Aug. 13. The platform reported around $1.02 billion in asset value at the time, according to earlier Ondo coverage.

The company says each tokenized security is backed by the related stock, ETF, or cash held with US-registered broker-dealers. An independent verification agent checks the asset backing, while a security agent holds an interest in the collateral.

Ondo’s disclosures state that buyers receive economic exposure to price movements and reinvested dividends after applicable tax withholding. Holders do not own the referenced stock or ETF directly and do not receive the same rights as registered shareholders.

Late in July, Ondo secured FINRA authorization connected to its US tokenized-equity operations. The company said at the time that its tokenized products had exceeded $2.5 billion in total value locked, while Ondo Stocks had processed more than $7 billion in cumulative volume.

Such tokenized products differ from the perpetual futures covered by the latest letters. Stock tokens provide an indirect economic interest backed by securities or cash, while perpetuals are derivative contracts designed to track the price of a referenced share without transferring ownership.

SEC and CFTC coordination could shape access Ondo submitted its letters while federal agencies were reconsidering how securities and derivatives rules should apply to blockchain-based markets.

In March, the SEC and CFTC signed a memorandum of understanding to coordinate work in areas where their authority overlaps. The agreement created a formal process for sharing information, developing policy, and resolving questions involving products that may fall under both securities and commodities law.

Security futures require such coordination because the SEC oversees securities markets and the CFTC regulates US futures and derivatives venues. A perpetual tied to an individual stock could therefore require approval or supervision from both agencies.

Political attention has also turned toward bringing offshore perpetual markets into the country. President Donald Trump said in August that CFTC Chair Michael Selig was working to bring Hyperliquid to the United States in a “fully compliant and legal fashion.”

Neither the CFTC nor Hyperliquid has publicly explained how access would operate. Hyperliquid is best known for onchain perpetual futures, while its HYPE token climbed more than 20% after Trump’s comments and gained nearly 49% over the following month to trade around $81 on Wednesday, according to CoinGecko.

Regulators are separately examining the infrastructure needed to support tokenized securities. On Tuesday, the SEC proposed updating transfer-agent rules covering registration, recordkeeping, transfer processing, cybersecurity, and the protection of securities and customer funds.

Most existing transfer-agent requirements date from the late 1970s and early 1980s, when paper certificates and manual ownership records remained common. Under the proposed rules, onchain transfer agents would need controls protecting digital records from unauthorized changes, deletion, and operational failures.

The SEC said the amendments would remain technology-neutral and would not require companies to use blockchain systems. Public comments will remain open for 60 days after the proposal appears in the Federal Register, after which SEC staff may revise the text before commissioners consider a final rule.

Record Holder Counts and Billions in Volume@Ondo is recording some of its strongest growth figures to date on @BNBChain, as the network celebrates its sixth anniversary. The protocol's unique holder count for its yield-bearing products, including the token at ethereum:0xfaba6f8e4a5e8ab82f62fe7c39859fa577269be3, has surpassed 173,000, reflecting broad uptake from both retail and institutional clients seeking on-chain exposure to real-world assets (RWAs).

The growth in holders mirrors a wider trend across the RWA sector. Ondo sits at the center of that shift, with its tokenized stock and treasury products accumulating hundreds of millions in TVL on BNB Chain alone.

The figures underline why BNB Chain has become a primary venue for Ondo's institutional ambitions.

BNB Chain as an RWA PowerhouseBNB Chain's infrastructure has proven well-suited for tokenized assets. That momentum has made it one of the most active destinations for institutions moving fixed-income and equity exposure on-chain.

That kind of performance gives institutional participants the speed and reliability they require when trading tokenized securities around the clock.

The breadth of that product lineup, combined with BNB Chain's low fees and fast finality, positions the pairing as one of the more credible on-ramps for mainstream adoption of tokenized finance.

Sources:
Ondo Finance 2025 Recap: Wall Street 2.0 Goes Global
BNB Chain H2 2026 Tech Roadmap
BNB Chain Latest Updates, CoinMarketCap

Singapore, Singapore, August 31st, 2026, Chainwire

LBank, a leading global cryptocurrency exchange, today announced an expansion of its collaboration with Ondo Finance, broadening its tokenized real-world asset offering with USDY and Ondo Intelligent Portfolios (OIPs). The expanded integration gives LBank users broader access to traditional financial market exposure through a crypto-native trading environment, further strengthening the exchange’s growing multi-asset TradFi ecosystem.

The expansion comes as interest in U.S. equities and thematic investment products continues to grow around major market trends shaping the global economy. Through Ondo Intelligent Portfolios, LBank users can gain diversified exposure to tokenized assets across high-demand themes, including artificial intelligence, leading technology companies, semiconductors, and other technology-driven sectors, while USDY provides an additional yield-bearing real-world asset within the same ecosystem. By bringing these offerings together, LBank and Ondo Finance are broadening the ways users can access and navigate traditional financial markets through blockchain-based infrastructure.

Through the expanded integration, LBank users can access these market opportunities within the same trading environment and account, without having to navigate multiple platforms or brokerage relationships. Ondo Intelligent Portfolios are designed to provide diversified exposure to a selection of tokenized US Stocks, bringing multiple market themes together through a blockchain-native structure. This gives LBank users a more streamlined way to respond to market movements, explore sector trends, and diversify across different types of financial assets from within their existing LBank account, while USDY adds a yield-bearing real-world asset to the mix.

“Traditional finance and digital assets are moving closer together, and users increasingly expect access to a broader range of financial opportunities from the platforms they already use,” said Eric He, Community Angel Officer and Risk Control Advisor at LBank. “The significance of our collaboration with Ondo Finance goes beyond adding new products to the platform; it is about building a more connected financial environment where users can access different forms of market exposure through the infrastructure they already use. By bringing together tokenized assets, diversified portfolio solutions, and yield-bearing real-world assets, we are building a more comprehensive TradFi ecosystem that gives users greater flexibility to navigate different market cycles, sectors, and investment strategies.”

The expanded collaboration builds on LBank’s broader development of its TradFi ecosystem, which already spans precious metals, stocks, Pre-IPO assets, commodities, and global indices. LBank has continued to expand its tokenized asset infrastructure through partnerships with Ondo Finance, xStocks, and bStocks, creating multiple pathways for users to access traditional market exposure alongside digital assets. With the addition of USDY and Ondo Intelligent Portfolios, LBank is further expanding beyond individual asset categories toward a more connected, multi-asset trading environment, giving users greater flexibility to explore opportunities across different markets, sectors, and financial products within one platform.

Looking ahead, LBank will continue expanding its coverage of stocks, thematic market opportunities, diversified portfolio solutions, and other tokenized financial assets, while strengthening its partnerships across the tokenized real-world asset ecosystem. By bringing a broader range of traditional market opportunities into a crypto-native environment, LBank aims to simplify access to global markets, enhance multi-asset trading flexibility, and further advance the convergence of traditional finance and crypto assets.

About LBank

Founded in 2015, LBank is a leading global cryptocurrency exchange serving over 25 million registered users in 160 countries and regions. With a daily trading volume exceeding $23.81 billion and 10 years of safety with zero security incidents, LBank is dedicated to providing a comprehensive and user-friendly trading experience. Through innovative trading solutions, the platform has enabled users to achieve average returns of over 130% on newly listed assets.

LBank has listed over 300 mainstream coins and more than 50 high-potential gems. Ranked No. 1 in 100x Gems, Highest Gains, and Meme Share, LBank leads the market with the fastest altcoin listings, unmatched liquidity, and industry-first trading guarantees, making it the go-to platform for crypto investors worldwide.

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THE STREET: Ondo Finance brings USDY and tokenized portfolios to LBank

Aggregated liquidity for tokenized US equities, available through one API.

August 26, 2026

Tokenized equities are starting to show up in onchain liquidity the same way any other asset does: traded on DEXs and AMMs once they're listed. 0x now surfaces that liquidity for Ondo Stocks through 0x Swap API and Cross-Chain API, giving any integrator a single API to quote and route trades in tokenized US stocks, without a direct integration into each individual venue.

How the integration works0x Swap API aggregates Ondo Stocks liquidity from the DEXs and AMMs already connected to Swap API on Ethereum and BSC, and routes each trade to the best price across them. This is the same aggregation model Swap API uses for any other asset, with no separate infrastructure to learn and no new integration pattern for your team.

Coverage tracks whichever Ondo Stocks tickers are actually listed on those connected venues at a given time, rather than a fixed set. As more tickers reach onchain liquidity, they become tradable through the same integration without any changes on your end.

Two ways to plug inSwap API and Cross-Chain API cover different parts of the same problem, and both work exactly as they do for any other asset.

If your users are already on Ethereum or BSC, Swap API quotes and executes the trade directly against aggregated liquidity, with no changes to how you call the API today.

If they're not, Cross-Chain API allows a user’s assets to move to a supported network first. Solana is supported on the destination side through bridge providers, so users starting there can still reach Ondo Stocks liquidity and move back out, without a separate application in the flow.

Why this matters beyond the integration itselfEvery new asset class a product supports touches more than the API layer: it's a decision about user activation, liquidity access, and compliance posture all at once. Aggregating Ondo Stocks the same way Swap API aggregates everything else means your team doesn't need a new pattern to support them: the same quoting, routing, and settlement flow you already use just picks up a new asset class.

Ondo is one of the largest issuers of tokenized US-listed stocks, and as more of that liquidity comes onchain through standard DEXs and AMMs, it becomes reachable through the same aggregation infrastructure 0x already runs.

"The promise of tokenized stocks starts with access. By aggregating Ondo Stocks liquidity through the same API hundreds thousands of teams already use, 0x turns onchain access to US equities from a one-off integration into a built-in default. That's exactly the kind of distribution this asset class needs to scale to billions of users." — Katie Wheeler, Managing Director of Global Partnerships at Ondo Finance

Get startedAccess to Ondo Stocks requires opt-in. To get started or evaluate broader RWA support, reach out to the 0x team.
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Disclaimer: Ondo Stocks are not available in the United States or to U.S. persons. Certain geo-restrictions may apply. Tokenized securities are issued by a separate third party, and ZeroEx is not a broker, dealer, exchange, or a registered financial institution. Any content or information presented or otherwise made available to you is on an "as is" basis and for general informational and educational purposes only, without representation or warranty of any kind. This publication is not: (a) an offer, or solicitation for an offer, to buy or sell, any interest or shares, or to participate in any investment or trading strategy; (b) intended to provide investment, financial, legal, or other professional advice; or (c) an official statement by ZeroEx or any of our affiliates. Please refer to our Terms of Service for more information.

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Three firms now sit atop the tokenized real-world asset market. Sky, Securitize, and Ondo Finance have collectively issued around $12.3 billion in tokenized assets, carving out a combined 27% share of the $44.5 billion RWA market.

That market has grown by more than 1,800% over recent years. Most of that explosive expansion traces back to a single asset class: US Treasuries.

Who’s leading and why it matters Sky, the rebranded MakerDAO ecosystem, holds the top spot with $4.5 billion in tokenized assets. The protocol has pivoted into real-world collateral, using RWAs to back its USDS stablecoin.

Securitize trails closely at $4.3 billion, a figure turbocharged by its role as transfer agent for BlackRock’s tokenized Treasury fund.

Ondo Finance rounds out the trio at $3.5 billion, focusing on yield-bearing equities and tokenized Treasuries through products like OUSG, its money market fund wrapper.

Securitize’s public market debut On July 2, 2026, Securitize began trading on the NYSE under the ticker SECZ. The company completed a SPAC merger that raised approximately $400 million, making it one of the first pure-play tokenization platforms to list on a major US exchange.

The Treasuries engine Tokenized US Treasuries have become the single largest driver of RWA market growth. Sky’s entire collateral strategy for USDS leans into this approach, replacing volatile crypto assets with government-backed securities.

Ondo’s OUSG product wraps short-duration Treasury exposure into an on-chain token, giving holders yield exposure without requiring a brokerage account or dealing with settlement delays measured in days rather than seconds.

Sky’s evolution from DeFi to hybrid finance MakerDAO launched in 2017 as a decentralized credit protocol. The rebrand to Sky accompanied a strategic pivot toward RWA integration that now defines the protocol. Its USDS stablecoin is backed by a mix of crypto assets and real-world collateral, with the RWA component growing steadily as a share of total backing.

What the concentration means for the market Three issuers controlling more than a quarter of a $44.5 billion market carries concentration risk. If one of these three platforms experienced a smart contract exploit, a regulatory action, or a key partnership dissolution, roughly $4 billion or more in tokenized assets could face redemption pressure simultaneously.

Franklin Templeton, WisdomTree, and other traditional asset managers have already launched tokenized fund products.

The combined $12.3 billion in tokenized assets held by Sky, Securitize, and Ondo represents the clearest evidence yet that blockchain rails are becoming serious infrastructure for traditional finance.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Ondo Finance, a project focused on tokenized stocks within decentralized finance, is experiencing renewed buying activity as market analysts point to potential gains for its ONDO token. The project, which specializes in bridging traditional financial assets such as stocks to the DeFi space, has seen increased attention following recent integrations with 0x and Matcha.

ONDO price outlook and technical analysisAt the current moment, ONDO trades at $0.3616, with a 24-hour trading volume reaching $95.42 million. The project’s market capitalization stands at $1.76 billion, ranking it among the more prominent DeFi tokens by total value. Despite a loss of 2.58% in the last 24 hours, analysts from MCO Global noted a pattern of renewed interest, though they described the current market recovery as technically conservative.

MCO Global indicated that ONDO completed three upside waves, which often reflects a corrective phase rather than an aggressive upward move. Analysts mentioned that bullish patterns are being formed, but mainly in diagonal structures, suggesting more confirmation is needed before ONDO can reach a sustained uptrend. Resistance is noted at $0.436. A breakout above this level may enable ONDO to reach targets in the $0.585 to $0.598 range.

Following the analysis, the ONDO price structure and continued network growth have signaled a possible bullish reversal. However, confirmation from buyers overcoming the resistance zone at $0.436 remains essential before a larger rally can be anticipated.

If ONDO remains above $0.436, analysts say it could build a stronger base to challenge the next levels. Otherwise, investors are expected to exercise caution until clear bullish signals emerge.

MetricValueCurrent price$0.361624h trading volume$95.42 millionMarket capitalization$1.76 billionShort-term resistance$0.436Upside targets (if breakout)$0.585–$0.598Expansion of tokenized stocks ecosystemOndo Finance is currently broadening its reach in the decentralized finance sector by integrating with 0x, an open-source protocol for decentralized exchanges, and Matcha, a decentralized trading platform. These partnerships are designed to improve trading access and liquidity for tokenized equity products built on Ondo’s infrastructure.

The 0x protocol connects Ondo’s tokenized stocks to a network of more than 130 liquidity sources, utilizing the 0x Swap API for streamlined integration. Matcha facilitates secondary market trading, further enhancing user access and liquidity for Ondo’s products.

This development is aimed at embedding tokenized equities into the core of decentralized finance, making them more accessible for crypto-native users. If the partnerships succeed in improving liquidity, ONDO may receive more demand as DeFi users can efficiently trade and invest in tokenized stocks.

Mini dictionary: 0x is an open protocol for decentralized exchanges on Ethereum, enabling peer-to-peer asset exchange. Matcha is a decentralized trading aggregator designed to find the best prices and liquidity across decentralized exchanges by routing trades through multiple protocols.

The eventual price trajectory for ONDO will largely depend on buyers’ ability to overcome the resistance at $0.436. A strong move above this threshold may align with a further rise towards the $0.585–$0.598 zone, especially as DeFi integrations deepen Ondo’s liquidity network.

The success of Ondo’s integration with 0x and Matcha would strengthen the supporting infrastructure for tokenized stocks in DeFi, reinforcing their role as native financial assets within decentralized markets.

Retail Access to U.S. Markets via BlockchainOndo Finance has partnered with @KUBChain's KUB Wallet to extend retail access to tokenized U.S. stocks and ETFs across Thailand, the latest move in a broader push to connect traditional capital markets with on-chain investors in Southeast Asia.

Through the deal, KUB Wallet holders will be able to hold on-chain representations of some of the world's most liquid equities through custodial wallets, removing the need for international brokerage accounts or complex cross-border settlement processes.

KUBChain,

Ondo Widens Its Distribution NetworkThe Thailand deal is consistent with Ondo Finance's wider strategy of partnering with wallet providers and exchanges to distribute its tokenized asset products.

Similar integrations have been announced with other wallet and exchange platforms in recent months. The KUBChain partnership follows the same model, using Ondo's infrastructure as a bridge between conventional financial markets and retail crypto users.

reflecting sustained momentum in the real-world asset sector. The Ondo and KUBChain tie-up positions both parties to capture a share of that growth in one of Southeast Asia's more blockchain-active markets.

Sources:
Ondo Finance: Ondo Global Markets
KUBChain Official Website
Coincub: Ondo Finance and the Future of RWA

Two decades of financial policy leadership, from the U.S. Senate to the Bank of England to the world's largest capital markets trade association, now focused on shaping the regulatory foundation for onchain capital markets.

Ondo Finance today announced the appointment of Allison Parent as Chief Policy Officer. Parent has spent her career at the intersection of financial markets and global policy, advising governments, market regulators, central bankers, as well as global financial institutions on some of the most consequential regulatory frameworks of the past two decades.

Parent joins from the Global Financial Markets Association (GFMA), where she served as Executive Director since 2017, representing the world's largest financial and capital markets firms on cross-border regulatory and market structure issues. Before GFMA, she was Head of Global Policy and Strategy at Barclays in London. She previously served as Senior Policy Advisor and Counsel for Markets at the Bank of England, and as Director for Government Policy and Finance with Barclays in Washington, DC. Earlier in her career, Parent was General Counsel to the U.S. Senate Committee on the Budget, where she advised on key financial services legislation, including the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Emergency Economic Stabilization Act (aka TARP).

Allison has also served on a number of public sector advisory roles, including as member of the Financial Stability Board (FSB) Advisory Forum on Format for Cyber Incident Reporting, the Associate Members Consultative Committee of the International Organization of Securities Commissions (IOSCO), and the Digital Markets Subcommittee of the Global Markets Advisory Committee at the U.S. Commodity Futures and Trading Commission (CFTC).

Ondo has spent years building the tokenization infrastructure for onchain capital markets. We believe as markets modernize the institutions and the jurisdictions that establish the necessary legal certainty, demonstrate market integrity in the underlying infrastructure, and transparency first will deliver the capital markets of the future.

Parent's appointment reflects the next phase of our work: industry collaboration with policymakers and regulators worldwide as tokenized assets move into the financial mainstream is integral to establishing clear, credible market standards that institutional adoption requires on a cross-border basis.

"Throughout my career, I've seen how global alignment of regulatory outcomes can unlock new distribution channels and accessibility rather than constrain it. Tokenization is the most significant advancement in market infrastructure in a generation, and getting the regulatory foundation and necessary industry standards right will determine how quickly its benefits reach investors and institutions globally. Balanced regulatory policy involves weighing growth and innovation with market integrity, consumer protection, and overall financial stability. Ondo Finance has the infrastructure in place and I’m excited to support unlocking the full potential of onchain markets." — Allison Parent, Chief Policy Officer, Ondo Finance

Parent’s invaluable experience in the regulatory, infrastructure and governance conditions that underpin trust in capital markets reflects our commitment to developing global industry standards that reward on-chain markets to provide new distribution channels for investors and clients globally.

The appointment follows rapid growth and regulatory progress for Ondo tokenized stocks, which have surpassed $1 billion in total value locked in under eight months. Ondo has secured authorization from the Liechtenstein Financial Market Authority, with passporting across the EU and EEA, seen its digital securities become the first admitted for trading under ADGM's FSRA framework via Binance's Multilateral Trading Facility, and received FINRA authorizations through its SEC-registered broker-dealer subsidiary Oasis Pro Markets. Parent will lead Ondo's policy and regulatory engagement as this footprint expands globally.

Tokenized stock transactions saw a pronounced acceleration over the last 30 days, with monthly transfer volume rising 415% to $29.5 billion, according to platform data from RWA.xyz. The sector also experienced a major increase in active participation, as monthly active addresses rose by 209%, reaching about 1.3 million during the same period.

Sharp rise in adoption and market valueThe number of tokenized stock holders surged 167% to 2.36 million within a month. The total value of tokenized equities distributed onchain climbed 1.45% over 30 days to $2.54 billion. This figure is up from $344 million a year ago, marking substantial year-on-year growth of 637%.

Monthly tokenized stock transfer volume reached $29.5 billion, with market participation and onchain distribution rising sharply over the past 30 days.

The recent surge marks one of the most active periods to date for digital representations of stocks, as investors increasingly seek blockchain-based alternatives for traditional equities.

Major tokens and leading platformsSecuritize Corp., a digital asset securities firm, carried the largest individual tokenized stock tracked by RWA.xyz, amounting to about $163 million in onchain market value. The Strategy PP Variable xStock followed at $136 million, while an Ondo-tokenized version of Circle Internet Group held $109 million.

Among platforms, Ondo led the market with $842.8 million in distributed value. Kraken’s xStocks registered $609.3 million, and Binance’s bStocks accounted for $599.9 million. These three platforms collectively represented approximately 81% of the tokenized stock sector.

PlatformDistributed ValueMarket ShareOndo$842.8 million33%Kraken xStocks$609.3 million24%Binance bStocks$599.9 million24%OtherRemaining value19%Mini dictionary: RWA.xyz, a digital assets analytics platform, tracks the blockchain activity of tokenized real-world assets including stocks, bonds, and funds across protocols and networks.

New crypto applications for tokenized equitiesCrypto platforms have begun introducing expanded ways for users to trade, hold, and leverage tokenized equities via blockchain networks. On August 24, Coinbase brought tokenized US stocks to Base, enabling eligible non-US users to buy, trade, and use these assets at any time and across decentralized finance (DeFi) applications. The B20 token series features leading firms such as Nvidia, Apple, Meta, and Alphabet, which can now be managed using self-custody wallets.

Following this release, Bitwise, a crypto asset management company, debuted automated portfolios based on Coinbase’s tokenized stocks. These portfolios, now available to eligible international customers, target sectors including the “Magnificent Seven” technology leaders, robotics, and artificial intelligence. Investors retain control by keeping the underlying assets in personal wallets while pursuing preset strategies.

Eligible global participants can now access tokenized portfolios of major US firms directly through crypto platforms, holding assets in self-custody and utilizing them within DeFi ecosystems.

Other platforms have adopted similar strategies to capitalize on demand for tokenized assets. In July, Bybit allowed users to utilize tokenized shares of major US companies such as Nvidia, Apple, and Tesla as collateral for margin lending. Meanwhile, decentralized exchange Arcus, supported by Robinhood, launched over 95 new stock tokens and perpetual markets on the Robinhood Chain.

TLDR: The tokenized stock market generated $29.5 billion in 30-day transfers, rising more than 415%. Active use grew faster than value. Monthly active addresses climbed over 209% to 1.3 million. The holder count advanced 167% to 2.36 million during the same period. Ondo, Kraken xStocks, and Binance bStocks held about 81% of distributed value. Their combined balance exceeded $2.05 billion. Coinbase and Bitwise expanded self-custodied equity products for eligible non-U.S. users. DeFi use adds custody and smart-contract risks. The tokenized stock market recorded $29.5 billion in on-chain transfers during the 30-day period, an increase of more than 415%. RWA.xyz figures show participation expanding beyond transaction volume. Monthly active addresses rose more than 209% to about 1.3 million, while holders increased 167% to 2.36 million. 

The value distributed on-chain reached $2.54 billion, only 1.45% higher during the month but 637% above its year-earlier level. That contrast matters: activity grew much faster than outstanding value. The tokenized stock market is therefore seeing heavier circulation, broader wallet use, and new product integration. Outstanding on-chain value did not record an equivalent surge.

Tokenized Stock Market Growth Broadens On-Chain Demand The latest market composition shows both scale and concentration. Ondo led with $842.8 million in distributed value. Kraken’s xStocks held $609.3 million, while Binance’s bStocks reached $599.9 million. Combined, those platforms controlled roughly 81% of the $2.54 billion market. The tokenized stock market has expanded, but its infrastructure and issuance remain clustered around three providers.

Tokenized stock activity. Source: RWA.xyz Tokenized stocks show a separate ranking. Securitize Corp. represented about $163 million, followed by Strategy PP Variable xStock at $136 million. Ondo’s tokenized Circle Internet Group shares held $109 million. These balances identify where value sits, while transfer volume measures how often assets move between wallets and applications.

Monthly transfers equaled about 11.6 times the sector’s distributed value. That ratio should not be read as $29.5 billion of new investment. It can include repeated trades, wallet transfers, redemptions, liquidity operations, and collateral movements. Even so, rising active addresses and holders provide separate evidence that participation widened alongside turnover.

The year-over-year increase from $344 million to $2.54 billion gives the tokenized stock market a larger base than last summer. The sharper monthly jump in activity suggests users are finding more ways to trade and deploy tokenized stocks.

Crypto Platforms Extend On-Chain Equities Into DeFi Coinbase added tokenized U.S. stocks to Base on August 24 for eligible users outside the United States. Initial assets covered Apple, Nvidia, Meta, and Alphabet. Base says each B20 token represents a real share held one-for-one through a regulated custody structure. Holders can keep the assets in self-custody wallets, trade through supported venues, or connect them with decentralized applications.

Source: Base Bitwise followed one day later with Automated Token Portfolios built from Coinbase-issued assets. Glider executes rules-based rebalancing while users retain their tokens. Mag7X launched first. Robotics and artificial intelligence models were still forthcoming. Access is limited to eligible non-U.S. persons, and Bitwise states that its SEC registration does not mean regulators approved these portfolios.

Other platforms are moving on-chain equities beyond spot trading. Bybit added tokenized shares, including Nvidia, Apple, and Tesla, as collateral for margin borrowing in July. Robinhood-backed Arcus also introduced more than 95 stock tokens and perpetual markets. On-chain equities may generate transfers without raising distributed value by the same amount.

Several offerings support extended trading outside normal U.S. exchange hours. That access lets users respond to events sooner. Still, thinner off-hours liquidity can widen spreads and weaken price tracking until markets reopen.

The tokenized stock market also offers different structures. Some products provide direct claims on custodied shares, while others deliver synthetic price exposure or cash redemption. Trading hours, dividend handling, voting rights, redemption terms, and investor protections can therefore vary by issuer and jurisdiction.

DeFi use adds smart-contract, oracle, liquidity, and liquidation risks. Market concentration creates another dependency, since three platforms hold most distributed value. Investors must assess the issuer, backing arrangements, custody, transfer restrictions, and redemption process. They should not treat tokenized stocks like brokerage holdings. Coinbase’s Base offering, for example, restricts availability to eligible jurisdictions outside the United States.

Over the past week, Ondo [ONDO] crypto has gone from being on the verge of a bullish breakout past the short-term resistance at $0.42 to sinking 7% in a week and falling toward the $0.30 demand zone.

Source: Coinalyze The short-term downturn was accompanied by a notable decline in Open Interest from $122 million to $112 million within 24 hours. Coinalyze data also showed a decline in spot CVD alongside negative Funding Rates in recent hours.

The Funding Rate was marginally positive once again at the time of writing, but put together, these indicators signaled bearish dominance. Here’s what Ondo crypto traders and investors need to watch out for next.

Indecisive Ondo crypto trends swing opportunities scarce Source: ONDO/USDT on TradingView Early in 2026, an Ondo crypto swing price move down from $0.47 to $0.20 marked a bearish trend continuation. Throughout the year, a decisive breakout from this downtrend has not been established.

The bullish price action in May stopped just shy of breaching the $0.47 high. A descending triangle pattern (green) saw an upward breakout in July, which was stopped short at the $0.413 local resistance.

At the time of writing, the CMF was at +0.06 to indicate sizeable capital inflows on the daily timeframe. Yet, the RSI was at 46.6 to signal neutral momentum.

This momentum decline was a result of the rejection from the range highs over the past week.

Traders’ call to action – Watch the range Source: ONDO/USDT on TradingView Since June, the $0.305-$0.42 range (purple) has been in place. The mid-range level at $0.364 was lost to the bears, and the $0.34 local demand zone was being tested.

A breakdown below $0.34 and a dip to $0.305-$0.320 would likely give a buying opportunity around the range lows, targeting $0.42 as take-profit.

However, as the 1-day chart showed, the longer-term swing structure was bearish. Hence, Ondo crypto traders should be prepared to cut their position in case of a dip below $0.30 and adopt a bearish bias thereafter.

Final Summary The Ondo crypto price action has lacked a clear trend in recent months, but its oscillation within a range has provided trading opportunities. Another buying opportunity could be around the corner. Swing traders will be watching the $0.305-$0.320 demand zone closely in the coming days.

TLDR: RWA.xyz tracked $38.35B in distributed assets on-chain, up 1.54% in 30 days as holders neared 3 million. Ethereum led distributed RWAs with $17.3B, ahead of BNB Chain at $5.8B and Solana at roughly $4.1B on-chain. Tokenized stock transfer volume jumped over 415% to $29.5B in 30 days, while distributed value hit $2.54B. Ondo Finance offers 440+ tokenized stocks and ETFs, showing how RWAs are expanding beyond Treasury products. Binance co-founder Changpeng Zhao has acknowledged that he underestimated real-world asset tokenization as on-chain assets approach a $39 billion market value. Speaking during a Binance Clubhouse Bali 2026 community Q&A published August 23, Zhao said he paid little attention to RWAs 18 months earlier.

CZ: I Definitely Underestimated the Growth of RWA

Binance founder Changpeng Zhao (CZ) @cz_binance said during the Binance Clubhouse Bali 2026 Community Q&A on August 23 that until about a year and a half ago, he did not expect RWA to grow to such a large scale, but now he is… pic.twitter.com/jPnJ9tV3ms

— Wu Blockchain (@WuBlockchain) August 30, 2026

That view has changed as traditional financial instruments increasingly move onto blockchain networks. Zhao said 24/7 trading, transparency, lower fees, and global access now give tokenization clear advantages over traditional market structures. He also noted that earlier crypto trends, including NFTs and memecoins, grew far beyond his initial expectations.

CZ Reassesses RWA Growth as On-chain Value Nears $39B The market data now helps explain CZ’s shift in perspective. RWA.xyz recorded $38.35 billion in distributed real-world assets on-chain as of August 28, excluding stablecoins. That total increased 1.54% over 30 days, while the number of asset holders more than doubled during the same period.

Nearly 3 million wallets now hold distributed RWAs, reflecting a 104% monthly increase. Separately, RWA.xyz tracked $380.88 billion in represented asset value across the broader tokenization market.

Source: RWA.xyz

Ethereum remained the largest blockchain for distributed RWAs, holding about $17.2 billion. BNB Chain followed with $5.7 billion, while Solana accounted for approximately $4.1 billion. Within that market, tokenized Treasury products remain among the sector’s largest individual assets.

Circle’s USYC stood near $2.88 billion, while BlackRock’s BUIDL reached roughly $2.76 billion. Ondo Finance’s USDY followed at about $2.19 billion. However, tokenized equities are becoming a faster-growing segment.

Monthly transfer volume for tokenized stocks surged more than 415% to $29.5 billion during the latest 30-day period. Their distributed value reached $2.54 billion, representing growth of about 637% from one year earlier.

Ondo Finance has also expanded the practical reach of tokenized equities. The platform now offers more than 440 tokenized stocks and exchange-traded funds to eligible non-U.S. investors across several blockchains.

Tokenized Stocks Surge as Regulation Moves Closer The expansion of Tokenized Assets is also unfolding alongside clearer regulatory discussion in the United States. The Securities and Exchange Commission issued January guidance explaining how federal securities laws apply to tokenized securities.

The guidance distinguished issuer-sponsored tokens from third-party tokenized products, giving the market a clearer framework for understanding different token structures. SEC Chair Paul Atkins later said the agency’s 2026 agenda includes clearer rules covering custody and trading of tokenized securities on-chain .

Meanwhile, CZ did not describe RWA growth as crypto’s next guaranteed dominant trend. Instead, he grouped RWAs with perpetual decentralized exchanges and AI agents as emerging sectors that could shape the industry’s next phase.

His reassessment nevertheless reflects a measurable shift in the market. Tokenized Assets now span government debt, equities, commodities, credit, and other traditional instruments, while distributed value has moved close to $39 billion.

For CZ, the change is less about predicting the next crypto narrative and more about recognizing an existing market transformation. RWAs have moved from a niche concept toward financial infrastructure with rapidly growing users, assets, and transaction activity.

Ondo Finance (ONDO), a decentralized finance platform that specializes in tokenized financial products, is gaining momentum as it approaches a potential breakout from its long-established descending channel. The move has piqued the interest of traders who are monitoring price action and trading volumes for signs of a sustained reversal.

ONDO price action and technical outlookONDO is currently trading at $0.3838, backed by a 24-hour trading volume of $199.1 million and a market capitalization of $1.86 billion. The token recorded a 1.10% gain over the past day, which some analysts link to growing interest in both price structure and network activity.

Crypto analyst Captain Faibik noted that ONDO’s price chart is drawing renewed attention as investors prepare for a possible midterm recovery. He pointed out that the descending channel, which has contained ONDO for an extended period, is a critical technical structure now under close observation.

ONDO’s price chart attracts renewed attention as traders position for a midterm recovery, carefully watching the descending channel that has defined recent price movement.

A confirmed breakout above the upper boundary of this channel could signal improving momentum and an increase in bullish sentiment. Some market observers believe this scenario might set ONDO on a path toward a broader price recovery.

However, confirmation of the breakout will depend on sustained buying pressure and a persistent rise in trading volume. Without this, ONDO may remain trapped within its current pattern.

Should bulls break through resistance, technical projections indicate a possible climb to $3.50. A failed breakout would likely keep ONDO confined within the channel and limit potential upside.

Ondo Perps competition aims to boost activityMeanwhile, Ondo Perps, the perpetual trading product within the Ondo ecosystem, has rolled out Grand Prix 3, a seven-day trading competition designed for Arbital traders. The contest begins on August 24, 2026, at 12:00 AM UTC and concludes on August 31, 2026, at 12:00 AM UTC.

The event features a performance-based prize pool with a potential cap of $10,000. The final prize amount will depend on the total trading volume reached during the contest period and could increase if participation exceeds expectations.

Mini dictionary: Ondo Perps, a derivatives trading platform developed by Ondo Finance, allows users to trade perpetual contracts linked to various digital assets. These products typically offer high leverage and the ability to take long or short positions without an expiration date.

EventStart DateEnd DatePrize PoolEligibilityOndo Perps Grand Prix 3August 24, 2026August 31, 2026Up to $10,000Arbital traders onlyAccording to data from Arbital, if the competition attracts higher trading volume, participants may unlock the full prize pool. Organizers claim this initiative is designed to boost ecosystem liquidity and increase trading activity on Ondo Perps.

Broader market moves and ONDO outlookThe current bullish outlook for ONDO is also supported by a broader upward trend in the cryptocurrency market, led by renewed momentum in Bitcoin. As price action aligns with network growth, ONDO could gain further strength if buyers sustain pressure above resistance.

Analysts suggest that successful confirmation of a breakout may provide the catalyst needed for ONDO to achieve higher midterm targets, while programs like Grand Prix 3 are expected to contribute additional liquidity and user engagement.

Upon success in breaking out of the channel, ONDO could see accelerated upside momentum, with further buying validating the reversal and enabling prices to move toward higher targets.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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  >  Phase 1 and Phase 2 of Ondo Trading Competition rewards are here: claim yours on Merkl

CampaignsPublished on: Aug 24, 2026

Share postIn BriefThe Ondo Trading Competition has officially concluded, and rewards are now available to claim on Merkl.

The Ondo Trading Competition has wrapped up, and it's time to collect your rewards. If you traded eligible Ondo tokenized stocks on BNB Chain and met the qualifying requirements in either Phase 1 and Phase 2 of the campaign, your rewards are ready and waiting.

The competition ran across two phases, with a combined $100,000 in total rewards available. Eligible participants can claim their share through the official Merkl website using the step-by-step guide below.

Rewards for this campaign are hosted on Merkl, a third-party rewards distribution platform. To claim, you'll connect the same wallet you used during the competition and complete the claim directly on the official Merkl site. This guide provides you with the steps to claiming your reward, but please make sure to verify the accuracy of the page, and the security of your own wallet.

The claim page is available for 1 year (until 24th August 2027). Please ensure you claim your rewards by then.

Please note that Merkl is operated by a third party and is subject to its own terms of use. Trust Wallet does not control the Merkl platform and is not responsible for its availability or performance.

Download Trust Wallet

How to Claim Your Rewards on Merkl

Claiming takes just a few minutes. Follow these steps in order.

Check the Ondo competition leaderboard to see if your wallet is eligible for a reward.

Go to the official Merkl rewards page: https://app.merkl.xyz/users/

Select Connect wallet in the top corner, then choose Trust Wallet from the list. Make sure you connect the exact wallet address you used to trade during the competition — rewards are linked to that address. If you participated in Phase 1 and Phase 2 and are eligible for rewards in either of or both phases, you will be able to claim both rewards in one go.

Once connected, your dashboard will display any rewards available to your address. If you don't see any rewards, the connected wallet address isn't eligible.

Select Claim.

Confirm the transaction in your wallet. You'll need to pay the network gas fee to complete the claim. Once it's confirmed on-chain, your rewards will land directly in your wallet.

That's it. Your rewards are self-custodied and fully in your control from the moment they arrive.

Protect Yourself: Use Only the Official Link Only use the official Merkl claim page linked in this article: https://app.merkl.xyz/users/

Trust Wallet will never contact you via direct message to help you claim rewards, nor will anyone from the team ask for your recovery phrase, private keys, or passwords.

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These assets are a tokenized version of the underlying asset and are designed to track its performance. The terms, rights, and redemption conditions vary and are set by the issuer. See Ondo Finance website for more information and their terms. Asset prices may vary and are subject to market risk. This content is for general information purposes only and is not intended as an offer, solicitation, promotion, recommendation, or invitation to buy or sell securities in any jurisdiction. Always DYOR. Subject to Ondo Finance Terms of Service https://docs.ondo.finance/legal/terms-of-service and ours https://trustwallet.com/terms-of-service.

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Tokenization in the crypto market is experiencing rapid growth, with adoption rates surpassing previous crypto-native milestones, according to John Hoffman, Head of Product Portfolios at Ondo Finance. Hoffman stated that skepticism and hesitation in today’s tokenization landscape mirror the early days of exchange-traded funds, or ETFs, which transformed the investment industry once their potential was recognized.

Tokenization’s accelerating timelineHoffman compared the rise of tokenized assets to earlier milestones in the crypto sector. He pointed to the time it took for various asset categories to reach the billion-dollar mark: stablecoins achieved the milestone in three years, while tokenized Treasuries accomplished it in eighteen months. Tokenized stocks reached the threshold within six months, and Ondo Stocks hit the target in just eight months. These figures suggest accelerating acceptance of tokenization solutions in the market.

Asset TypeTime to $1B in AssetsStablecoins3 yearsTokenized Treasuries18 monthsTokenized Stocks6 monthsOndo Stocks8 monthsHoffman argued that this rapid pace demonstrates the effectiveness of finding a strong fit between product and market, much like the ETF’s journey to widespread use. He linked the shift to a broader adoption cycle involving regulations, supportive intermediaries, practical cases for portfolio building, and eventually widespread investor participation.

Institutional and infrastructure opportunitiesInstitutions and major investors have benefited from this growth, making better use of global systems that let them trade, post collateral, and settle with stablecoins. For exchanges, custodians, and developers, tokenization provides a way to combine existing infrastructure with digital solutions, such as tokenized equities and Treasuries.

Tokenization is now having its ETF moment, with enthusiasm rising as the technology enables new market structures and cross-border opportunities for investors.

This trend aligns with a growing focus on tangible, real-world assets. Platforms like DefiLlama and RWA.xyz track the category, highlighting initiatives by blockchains including Ethereum, Stellar, and Polygon to attract new issuers and adapt regulatory frameworks for securities.

Mini dictionary: Ondo Finance, a decentralized finance platform focused on tokenizing real-world assets and creating on-chain investment products, has become notable for its rapid expansion and innovative offerings in the RWA sector.

Regulatory landscape and future possibilitiesHoffman noted the gradual increase in regulatory clarity around tokenized assets in the United States. This progress is viewed as a complement to existing distributed ledger technology (DLT) securities frameworks in the European Union and the UK. Such developments are expected to promote further adoption and innovation.

Other contributing factors include new broker-dealer licenses, opportunities for secondary market liquidity, standardization across blockchains, and stronger reserve validation practices.

A successful wave of tokenization could bring the ETF model to programmable, around-the-clock markets, while still maintaining regulation, compatibility, and high liquidity.

Overall, as regulatory efforts and technology infrastructure advance, participants expect tokenization to reshape market structures, expand access, and enable new types of financial products.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Tokenized stocks are a huge part of the RWA market, and Ondo Finance [ONDO] is leading the charge.

With a commanding share of the market and a growing user base, the platform is growing in strength. Here’s what we know.

Ondo stocks crossed $150K holders in under a year Ondo Stocks has crossed 150,000 unique holders in less than a year. Across individual tokenized stocks and ETFs, the platform now accounts for 292,000 holdings.

Tokenized stocks have now reached a mammoth $2.8 billion in market cap across 21 issuers! Ondo Finance leads, with the largest share at 34.9%.

Source: Token Terminal xStocks follow with 22.5%, and Binance bStocks hold 21.2%. Together, these three issuers account for 78.6% of the entire tokenized stocks market, which makes the concentration at the top obvious.

AMBCrypto previously reported that activity around Ondo had already been picking up. Monthly transfer volume went up 194% to $23.49 billion, while active addresses rose 41.6% to nearly 601,000.

Distributed value increased just 4% to $2.33 billion over the same period.

Within that setup, Ondo Stocks accounts for about $1.01 billion in TVL. That gives the latest holder and market-share milestones more weight.

xStocks outpaces Ondo in weekly market cap growth Despite the lion’s share of the tokenised stocks market, Ondo Finance was not the fastest-growing issuer over the past week.

Source: Token Terminal That spot went to xStocks, which added $17.3 million in market cap over seven days. Ondo came second with $10 million, while Superstate and Robinhood added $3.9 million and $3.3 million.

As competition heats up, this is worth watching.

ONDO price jumps 12% as momentum turns bullish ONDO token is moving with good pace. At the time of writing, ONDO was trading near $0.40, with a double-digit growth of 12.42% on the day.

The RSI was indicative of high buying pressure. The DMI also leaned bullish, with the positive directional indicator at 34.48, well above the negative indicator at 15.13.

Source: TradingView However, the ADX was at 17.73, so the buyers were pulling the strings.

Final Summary Ondo Finance leads the $2.8B tokenized stocks market with a 34.9% share. Despite this, xStocks beat Ondo in weekly market-cap growth.

Mutsamudu, Comoros, August 21st, 2026, Chainwire

MEXC, a pioneer in 0-fee digital asset trading, has listed the MRNAON/USDT trading pair on Spot, giving users a new opportunity to access U.S. stock markets as part of its expanding lineup of Ondo tokenized stock offerings.

Moderna, Inc., a U.S.-based biotechnology company known for its mRNA vaccine platform, has seen its shares rally sharply in recent trading. On August 19, 2026, Moderna and Merck announced that their investigational personalized mRNA cancer vaccine, used in combination with Keytruda, met the primary endpoint of a late-stage melanoma trial, with the combination regimen meeting the main study goal of significantly extending the time patients lived without their melanoma returning, compared with Keytruda alone. Moderna’s stock price soared 177% that day, delivering a substantial blow to short sellers, marking one of its largest single-session gains on record and drawing renewed market attention to the company’s expanding pipeline beyond vaccines.

The MRNAON/USDT trading pair went live on Spot at 09:00 on August 20, 2026 (UTC). Deposits are open, with withdrawals enabled from 09:00 on August 21, 2026 (UTC).

As the latest addition to MEXC’s ongoing collaboration with Ondo, the listing reflects MEXC’s efficiency in bringing trending assets to market, giving users timely investment exposure to one of the most closely watched biotech stocks in the current market. Ondo Stocks (formerly Ondo Global Markets) is a platform designed to bring traditional public securities on-chain through tokenized assets, enabling investors outside the United States to invest in publicly traded U.S. securities, including stocks and ETFs. These tokenized assets are freely transferable and usable in DeFi.

Tokenized stocks have taken on a growing role in MEXC’s trading activity. In July, tokenized stocks became the largest category within MEXC’s TradFi spot market, accounting for 62% of total spot trading volume. The trend underscores rising user demand for tokenized stocks, and MEXC will continue to expand its tokenized stock offering, empowering users to capture opportunities across global markets. In addition, MEXC 0808: Stock Season, the platform’s annual brand event running through August 28 (UTC), is offering 0 Fees across Tokenized Stocks, Stock Futures and RealStocks, along with the opportunity to share in a $500,000 prize pool.

About MEXC

MEXC is the world’s fastest-growing cryptocurrency exchange, trusted by more than 40 million users across 170+ markets. Built on a user-first philosophy, MEXC offers industry-leading 0-fee trading and access to over 3,000 digital assets. As the Gateway to Infinite Opportunities, MEXC provides a single platform where users can easily trade cryptocurrencies alongside tokenized assets, including stocks, ETFs, commodities, and precious metals.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

For media inquiries, please contact MEXC PR team: [email protected]

Risk Disclaimer:

This content does not constitute investment advice. Given the volatility of financial markets, including digital assets, tokenized assets, and traditional financial products, investors should carefully assess market conditions, underlying asset fundamentals, and potential financial risks before making any investment or trading decisions.