Real-world assets tokenization platform Ondo Finance (CRYPTO: ONDO) launched hundreds of blockchain-based stocks, exchange-traded funds, bonds, and commodities on Solana (CRYPTO: SOL) on Wednesday.
Solana Goes TradFi
Ondo Finance said in an X post that it’s bringing the “full TradFi portfolio” to Solana, one of the most popular networks for decentralized finance.
More than 200 assets, including Mag 7 stocks such as NVIDIA Corp. (NASDAQ:NVDA) and Microsoft Corp. (NASDAQ:MSFT), ETF’s such as iShares MSCI Emerging Markets ETF (NYSE:EEM), treasury bonds, precious metals such as gold and silver, will be available for trading on the Layer-1 network.
The assets were launched via the Solana-based decentralized finance protocol Jupiter Exchange.
It’s worth noting that prediction market Kalshi previously launched blockchain-powered predictions on Solana through the Jupiter Exchange.
Tokenization Wave Sweeps Wall Street
Ondo Finance’s latest move expanded its tokenized offerings beyond Ethereum (CRYPTO: ETH) and BNB Chain (CRYPTO: BNB), where it already has over 200 TradFi assets trading.
As of this writing, the total value of all tokenized offerings on Ondo Finance sits over $2 billion, according to RWA.xyz, a platform that tracks the RWA market.
This announcement comes days after the New York Stock Exchange revealed plans to develop a platform for the trade and on-chain settlement of tokenized securities, offering 24/7 operations, instant settlement, fractional share trading, and stablecoin-based funding.
Price Action: At the time of writing, SOL was exchanging hands at $130.01, up 2.49% in the last 24 hours, according to data from Benzinga Pro. Ondo Finance’s native token traded up 2.78% at $0.3457
Photo Courtesy: LEE WA DA on Shutterstock.com
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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