ONDO price has increased 2.45% today to $0.9716, along with an extension of its weekly returns to 3.14%. The token’s performance comes as Ondo Finance officially launched its Global Markets platform, a product designed to bring tokenized equities to Ethereum.
New Launch Fuels Renewed Confidence In ONDO Price
According to TradingView chart, the asset trades over $0.97, with $0.98 its short-term resistance level. The continuous demand would keep ONDO in recovery mode and could attract more investors to sustain this demand.
The positive price action builds on ONDO’s 56.71% yearly gain. Despite a 27.61% decline year-to-date, the token remains up more than 223% from its all-time low. The token also displayed a similar move when 21Shares filed for an Ondo ETF.
The launch of Ondo Global Markets has coincided with a renewed confidence in its native token. Meanwhile, the new platform introduces tokenized versions of U.S. stocks and ETFs for non-U.S. investors. At launch, more than 100 securities are available, with plans to expand to 1,000 by year-end, subject to jurisdictional restrictions.
Ondo Global Markets uses a fully backed model. The actual underlying asset, whether registered as a U.S. broker-dealer and custodian, is the collateral of each tokenized stock. The design guarantees that tokens minted, redeemed and transferred can mirror the real-time value of that asset. This move builds on building on Ondo Finance’s acquisition of Oasis Pro to strengthen regulated tokenized securities infrastructure.
Investors obtain transferability at any time of the day and redemption is available even after the U.S. market hours. Since liquidity is directly transferred to traditional exchanges, there is minimal slippage and tokenized shares are in close relation to underlying prices. This lessens distortions which have negatively impacted other tokenized equity products.
Ondo’s Tokenized Assets Bring Equities into the DeFi Lending and Borrowing Ecosystem
Beyond exposure to equities, ONDO tokenized assets can be used across DeFi protocols. The assets can be utilized in multiple ways compared to traditional brokerage shares. That is because holders can stake, borrow or lend these assets.
Daily third-party verification of reserves, bankruptcy-remote protections, and oversight by independent security agents provide added confidence. The measures provide institutional-grade protection and priority rights to token holders over the underlying assets.
The introduction comes at a critical time in the history of digital markets after the signing of the GENIUS Act into law in the United States. Ondo sets its platform as the basis of Wall Street 2.0, in which tokenization represents a value addition to traditional finance but does not eliminate its fundamental frameworks.
Recent ONDO price rally highlights the capability of product innovation to reinforce the momentum of the token. The Global Markets launch by Ondo Finance is proof that blockchain is currently not only limited to stablecoins. It can also to extend to mainstream securities.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Source: https://coingape.com/ondo-price-climbs-as-ondo-finance-launches-tokenized-stocks/
