RWA is one of if not THE hottest crypto sector right now and for the foreseeable future. Ondo Finance is currently leading this charge,
Now, with Mantra having fallen off the cliff, Ondo Finance seems to be the new leader. So, here is why you should pay attention to Ondo Finance.
The recent big news for Ondo was of course their talks with the SEC. Ondo has been in talks with the SEC’s Crypto Asset Working Group or Crypto Task Force. They’re looking into ways to be compliant. Ondo’s focus is on tokenization and the future of digital asset regulation. The idea is to issue US tokenized securities.
So, this is a great way to start this, by going straight to the source. This happens only a few days after Paul Atkins officially became the new SEC chair. He already had his first public appearances. Like this one with President Trump. His priority is to provide a firm, regulatory foundation for digital assets. That fits Ondo to a T!
Atkins is already a former SEC commissioner. Furthermore, he was also a senior advisor for Securitize. Now, Securitize has, among others, a partnership with BlackRock. Well, BlackRock has its BUIDL fund. And who has strong ties to BUIDL, right, that’s Ondo Finance. So, this makes the circle round.
Atkins being at the helm of the SEC seems very beneficial for Ondo Finance and the RWA sector as a whole.
One of the projects that Ondo Finance is working on is Wall Street 2.0. You can compare this to stablecoins, who took the US dollar on a digital global ride. Ondo’s Wall Street 2.0 will do the same for US capital markets. Ondo also calls this Ondo Global Markets.
This gives you access to thousands of tokens, all 1:1 backed by stocks, bonds, and ETFs. In other words, TradFi meets DeFi. However, currently, this platform is not available in the US. Nonetheless, with the SEC development I described a moment ago, things may change.
It should come as no surprise that Wall Street is opening up to the idea of tokenizing assets. This offers various advantages. For example, a market that is open 24/7. BlackRock’s BUIDL could be one of the vehicles. We saw already that Ondo has close ties to this fund.
Ondo also has the means to attract Wall Street. It already offers tokenized Treasuries on 9 chains. Coming up are bonds and ETFs. Ondo is building the rails that TradFi needs.
Let’s first look at the current $ONDO price. That’s spot on $1. It has a $3.1 billion market cap and ranks 40th as measured by market cap. A weaker point is that only 3.1 billion $ONDO out of a max and total supply of 10 billion circulate. However, the next big and yearly token unlock is nine months away.
With all the recent news, over the last 14 days, $ONDO is up by 21%. By the looks of it, there’s more to come. So, despite its high market cap, there’s still plenty of growth potential for $ONDO. For example, check out our video about how many $ONDO you need to become a millionaire. We examine $ONDO up to $30.
Ondo’s TVL already surpassed $1 billion. So, that also looks good. But where can it go from here? Especially in the short term?
So, $ONDO is breaking out and the short-term price action and targets look good.
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ETH+2 moreThe Ondo Finance team is in DC today meeting with the SEC Crypto Task Force to discuss tokenization and the future of digital asset regulation. We look forward to collaborating with regulators on shaping a thoughtful framework for digital assets.
Meet Paul Atkins The new pro-crypto SEC chair we've been waiting for. Here’s why this is bullish shift for crypto and 3 fundamental altcoins👇🧵
Stablecoins took the dollar global. Ondo Global Markets will do the same for US capital markets. We’re building Wall Street 2.0—Made in America, built for the world.
Stablecoins onboarded the world. @OndoFinance is giving them a reason to stay. $Ondo Global Markets - Tokenized stocks - Composable ETFs - Global liquidity Wall Street meets DeFi. And this is just the beginning.
The RWA tech stack Wall Street incumbents manage trillions of dollars across asset classes. They have an $ incentive to (i) tokenize their holdings & (ii) make the tokenized assets interoperable across chains. They're also likely to outsource these functions. E.g. for Show more
Wall Street is warming up to tokenization amid a regulatory shift. “There’s certainly been a sea change in institutional interest,” @nathanlallman told @scottmelker on TheStreet Roundtable. He pointed to new OCC guidance and the repeal of SAB 121 as major Show more
