Ondo lets institutions convert stocks directly into tokenized shares
- Published
Ondo opened an in-kind creation and redemption route for tokenized U.S. stocks and ETFs, with approved institutions able to swap underlying securities for corresponding tokens. Near also added Ondo’s tokenized stocks and ETFs to its app, where users can buy them with crypto across more than 30 networks.
Key claims & sources
What it means
Users of near.com now see Ondo’s tokenized U.S. stocks and ETFs inside the app, with purchases available using crypto from more than 30 networks. That means access to these assets is showing up in a consumer-facing venue, not only in the institutional conversion route.
For approved institutions, the process now includes an in-kind route for Ondo Stocks rather than only a cash-based one. Existing U.S. stocks and ETFs held at Alpaca can be exchanged for corresponding tokens on Ethereum or BNB Chain.
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Cointelegraph
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