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ONDO Price Skyrockets As Over 100 Tokenized Assets And ETFs Are Set For Ethereum Debut
Ondo Finance launched Ondo Global Markets, providing non-US investors access to over 100 tokenized US stocks and ETFs on the Ethereum blockchain. The platform's launch caused a price surge in Ondo's native token, ONDO. Ondo Global Markets aims to expand access to US markets, particularly in Asia-Pacific, Africa, and Latin America. It operates on Ethereum, with plans to expand to BNB Chain, Solana, and Ondo Chain. Both retail and institutional investors can mint and redeem tokenized assets 24/5. These tokenized assets are fully backed by underlying securities held with US broker-dealers. Investors receive total economic returns mirroring the underlying assets' performance. The founder calls this a breakthrough in financial access, comparing it to stablecoins' impact on US dollar accessibility. The platform is supported by various crypto wallets and exchanges, ensuring ease of access and management. Despite recent gains, ONDO's price remains below its all-time high.
