Ondo wants to rebuild prime brokerage on-chain — and perps are the first step
Ondo Finance: The Tokenization Giant Redefining Global Markets in 2025
The year 2025 is proving to be a watershed moment for Ondo Finance, the trailblazing blockchain firm that has rapidly ascended to the forefront of the digital asset revolution. In a revealing interview with CoinDesk Live at the Ondo Summit, Ian de Bode, President of Ondo, unveiled the company’s meteoric rise and its ambitious plans to reshape the future of finance. From tokenized U.S. Treasuries to a groundbreaking perpetual futures platform, Ondo is not just participating in the tokenization trend—it’s leading it.
A Year of Explosive Growth: Ondo’s Dominance in Tokenized Assets
Ondo Finance has emerged as a powerhouse in the tokenized asset space, with its core businesses experiencing unprecedented growth. According to Ian de Bode, the firm has solidified its position as a leading issuer of tokenized U.S. Treasuries, boasting a staggering $2 billion in total value locked (TVL). This achievement underscores Ondo’s ability to bridge the gap between traditional finance and blockchain technology, offering investors a seamless way to access one of the world’s safest and most liquid assets.
But Ondo’s ambitions don’t stop at Treasuries. The company’s Global Markets platform, which focuses on tokenized stocks and ETFs, has reached an impressive $600 million in TVL. This positions Ondo as the dominant player in this niche, commanding approximately 60% of the market share. Such rapid adoption is a testament to the growing demand for tokenized assets and Ondo’s ability to deliver innovative solutions that resonate with both retail and institutional investors.
Strategic Partnerships: Bridging the Gap Between Crypto and Traditional Finance
Ondo’s success is not just a result of its technological prowess but also its strategic partnerships with traditional finance heavyweights. The company has forged alliances with industry giants like Mastercard and JPMorgan, signaling a growing acceptance of blockchain technology within the traditional financial ecosystem. These partnerships are crucial as they provide Ondo with the credibility and infrastructure needed to scale its operations and attract a broader audience.
Ian de Bode emphasized that these collaborations are part of Ondo’s broader strategy to integrate tokenized assets into the fabric of global finance. By working with established players, Ondo is not only expanding its reach but also paving the way for a future where blockchain-based assets are as commonplace as their traditional counterparts.
The “Land Grab” Phase: Building the Infrastructure for the Future
Despite its impressive achievements, Ian de Bode was quick to point out that the tokenization industry is still in its infancy. He described the current phase as a “land grab,” where banks, asset managers, and custodians are racing to get their assets on-chain. For Ondo, the focus is on building the foundational infrastructure—the “pipes”—that will enable seamless tokenization and trading of assets.
De Bode’s analogy is apt. Just as the internet required robust infrastructure before it could revolutionize communication and commerce, the tokenization of assets requires a solid foundation before it can truly disrupt traditional finance. Ondo is at the forefront of this effort, developing the tools and platforms that will make tokenization accessible to a global audience.
Beyond Asset Issuance: Ondo’s Vision for the Future
Ondo is not content with merely issuing tokenized assets. The company is positioning itself as a comprehensive service provider, offering a suite of tools and platforms that cater to the evolving needs of investors. One of the most exciting developments is Ondo Perps, a new platform for perpetual futures on equities and commodities.
What sets Ondo Perps apart from existing venues is its innovative use of tokenized stocks and ETFs as collateral. Unlike traditional platforms that rely solely on stablecoins, Ondo Perps allows users to post tokenized assets as collateral, opening up new possibilities for market makers and traders. This design is expected to deepen liquidity and enable more sophisticated trading strategies, further cementing Ondo’s position as a leader in the space.
Retail Adoption: A Global Phenomenon
While institutional adoption is crucial, Ondo is also seeing significant interest from retail investors, particularly outside the United States. Ian de Bode revealed that the company’s tokenized stocks platform has experienced net inflows on all but three days since its launch in September. This level of consistent demand is a clear indicator of the platform’s appeal and the growing appetite for tokenized assets among retail investors.
Ondo’s distribution strategy has played a key role in driving this adoption. By partnering with crypto wallets and exchanges like Binance Wallet and MetaMask, Ondo has made its tokenized stocks accessible to a global audience. This is particularly significant in regions like Asia, where access to traditional financial markets can be limited. De Bode likened the impact of tokenized stocks to that of stablecoins, which have democratized access to U.S. dollars for people around the world.
The Future of Finance: On-Chain Prime Brokerage
Ondo’s long-term vision extends far beyond tokenized assets and perpetual futures. The company is laying the groundwork for on-chain prime brokerage, a concept that could revolutionize the way investors manage and trade their portfolios. Perpetual futures are just the first step in this journey, with Ondo aiming to recreate the full suite of traditional prime brokerage services on the blockchain.
The broader thesis is convergence—a future where investors can trade crypto, stocks, ETFs, and derivatives seamlessly within a single platform. Ondo envisions a world where tokenized traditional assets are native to crypto trading workflows, enabling investors to access a diverse range of assets around the clock. To achieve this vision, Ondo plans to partner with centralized exchanges and wallets, ensuring that its platforms are integrated into the broader crypto ecosystem.
Why It Matters: Ondo’s Role in the Tokenization Revolution
Ondo’s rapid rise and ambitious plans are not just significant for the company itself but for the entire tokenization industry. By demonstrating the viability and demand for tokenized assets, Ondo is helping to legitimize the concept and attract further investment and innovation. The company’s success also highlights the potential for blockchain technology to transform traditional finance, making it more accessible, efficient, and inclusive.
As the tokenization trend continues to gain momentum, Ondo is well-positioned to remain at the forefront of this revolution. With its strong partnerships, innovative platforms, and clear vision for the future, Ondo is not just participating in the evolution of finance—it’s leading it.
Tags: Tokenization, Blockchain, Ondo Finance, U.S. Treasuries, Tokenized Stocks, ETFs, Perpetual Futures, On-Chain Prime Brokerage, Traditional Finance, Crypto Adoption, Global Markets, Financial Innovation
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