Ondo Finance
ONDO
An RWA tokenization platform bridging TradFi and DeFi
Performances
RD Popularity Index
RD Growth Index
| 1h | 24h | 7d | 30d | 60d | 90d |
|---|---|---|---|---|---|
| 0.64% | 2.93% | 10.59% | 24.16% | 3.92% | 4.75% |
Comparison
Team
Tokenomics
Unlock Progress
Unlock Event
| Date | Unlocked Token Amount | Unlocked M.Cap | M.Cap (%) | Allocation |
|---|---|---|---|---|
| Jan 18, 2027 | 1.93B ONDO | $708.25M | 39.83% | 3 Allocation |
| Jan 18, 2028 | 1.93B ONDO | $708.25M | 39.83% | 3 Allocation |
| Jan 18, 2029 | 791.92M ONDO | $289.2M | 16.26% | 1 Allocation |
Top Holders
| Address | Token | Quantity | 7d | Percentage | Value |
|---|---|---|---|---|---|
| 0x677f...a1a1 |   ONDO | 5,179,207,574.16 | -- | 51.79% | $1.89B |
| 0x460a...6537 | ONDO | 725,609,906.43 | -5,637,195.51-0.78% | 7.26% | $264.98M |
| Bithumb: Hot Wallet (0182) | ONDO | 211,758,302.01 | -426,264.56-0.21% | 2.12% | $77.33M |
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|---|---|---|---|---|---|---|
| 1 | BBlockFinDEX | ONDO/USDT | $0.3673 | $410,716 | $478,724 | $40,089,310 | 42.97% |
| 2 | BBlofinDEX | ONDO/USDT | $0.3654 | $418,272 | $373,764 | $24,090,060 | 25.82% |
| 3 | BBitDeltaDEX | ONDO/USDT | $0.3667 | -- | -- | $14,892,357 | 15.96% |
| 4 | AAstralXDEX | ONDO/USDT | $0.3667 | $166,344 | $378,446 | $14,809,295 | 15.87% |
| 5 | UUpbitCEX | ONDO/KRW | $0.3666 | $546,828 | $521,776 | $5,771,231 | 6.19% |
| 6 | BBinanceCEX | ONDO/USDT | $0.3662 | $253,395 | $378,483 | $5,019,743 | 5.38% |
| 7 | CCoinWDEX | ONDO/USDT | $0.3661 | $130,759 | $138,515 | $4,380,664 | 4.70% |
| 8 | WWhiteBITDEX | ONDO/USDT | $0.3661 | $88,653 | $303,949 | $4,273,848 | 4.58% |
| 9 | XXT.COMDEX | ONDO/USDT | $0.3661 | $270,198 | $216,311 | $2,994,125 | 3.21% |
| 10 | OOKXCEX | ONDO/USDT | $0.3662 | $171,899 | $396,850 | $2,515,701 | 2.70% |
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People
About Ondo Finance
Ondo Finance is a real-world-asset platform that issues tokenized U.S. Treasuries and tokenized equities to institutions and non-U.S. investors across Ethereum, Solana, Arbitrum and other chains. It addresses the high barriers and slow settlement of traditional fixed income and U.S. equities by wrapping yield-bearing assets such as OUSG and USDY, plus more than 100 U.S. stocks and ETFs, into on-chain instruments priced and redeemed in stablecoins. Its core mechanism relies on licensed broker-dealers and transfer agents under a custody architecture, with underlying securities held by regulated entities and on-chain tokens representing contractual claims on the physical shares, while an oracle feeds NAV and dividend data on-chain.
The trade-off is that underlying assets concentrate in a single custodian and jurisdiction, non-U.S. access remains restricted, and tokens convey contractual claims rather than direct equity. In May 2026, Ondo's founder and CEO died unexpectedly, triggering a succession and governance dispute.
In 2021 Nathan Allman founded Ondo Finance, initially focused on DeFi structured products, raising a $4M seed round led by Pantera Capital that August.
In April 2022 Ondo Finance closed a $20M Series A co-led by Pantera Capital and Founders Fund, with Coinbase Ventures participating.
In early 2023 Ondo Finance pivoted to real-world assets, launching the U.S. Treasury-backed OUSG fund and the yield-bearing stablecoin USDY.
On January 18, 2024, Ondo Finance's ONDO governance token lifted transfer restrictions and began trading, later listing on Coinbase.
In February 2025 Ondo Finance unveiled Ondo Chain, an institutional Layer 1 with built-in oracles and bridges designed for tokenized assets.
In July 2025 Ondo Finance announced the acquisition of licensed broker-dealer Oasis Pro, gaining SEC-registered broker-dealer, ATS and transfer-agent licenses.
In September 2025 Ondo Finance launched Ondo Global Markets, offering over 100 tokenized U.S. stocks and ETFs to non-U.S. investors.
At the end of 2025 Ondo Finance secured Liechtenstein's FMA approval to offer tokenized securities across the EU and EEA.
On May 25, 2026, founder and CEO Nathan Allman died suddenly at 32; as the sole director and controlling shareholder, his death triggered a succession crisis: president Ian De Bode declared himself CEO on June 1, and the founder's mother Kathleen reconstituted the board on July 24, removed De Bode and installed herself interim CEO, with the two sides now facing off in Delaware court. The estate includes large ONDO holdings that vest over time.
Business kept growing: Ondo Global Markets tokenized-equity TVL passed $1.01 billion in August; USDY reached about $2.33 billion in October, surpassing BlackRock's BUIDL; subsidiary Oasis Pro received FINRA authorization in July.
The Ondo Foundation positions ONDO strictly as a governance token with no claim on company revenue, sparking a holder-rights debate; roughly 1.71 billion ONDO (about 35% of circulating supply) will unlock on January 17, 2027.
On February 3, 2026 MetaMask opened Ondo Finance's tokenized US stocks, ETFs and commodities to non-US users, excluding 30 jurisdictions at launch; on February 11 Ondo Finance's Chainlink price feeds for SPYon, QQQon and TSLAon went live on Ethereum, making them usable as DeFi collateral. Ondo Finance became the first digital security admitted to trade under Abu Dhabi's ADGM framework on March 3 and tokenized five Franklin Templeton ETFs on March 25.
Ondo Global Markets crossed $1 billion of TVL in May, the first tokenized equities platform to do so, and on April 28 added proxy voting for $700 million of tokenized equities. In June it hired former Invesco ETF head John Hoffman to lead onchain portfolios and worked with Exodus to list more than 200 stocks and ETFs on Solana. On July 2 it launched an SEC-aligned model using BlackRock's IVV and Micron shares with Broadridge and Oasis Pro, and on July 17 agreed with Japan's SBI Holdings to tokenize Japanese stocks settled in JPYSC; on July 28 it dropped its own Ondo Chain for a private high-speed trading network for perpetuals. In-kind minting and redemption arrived September 21, three BlackRock-linked onchain portfolio tokens on September 26, and the platform passed 100,000 holders and 214,000 asset balances.
Ondo is upgrading issuance into market structure. Oasis Pro won expanded FINRA authorization for tokenized equities and ETFs in July, in-kind minting and redemption went live in September, and membership in DTCC's Fund/SERV connects it to the standard US fund distribution network, the first time a tokenization firm has stood on traditional clearing and transfer rails rather than only putting assets onchain. Dropping its own L1 for a private high-speed trading network signals that execution speed and compliant channels matter more to institutional order flow than decentralization. SBI's JPYSC settlement for Japanese equities and the ADGM licence for the Middle East form a cross-border template. The unresolved question is token linkage: ONDO is still mainly a governance right, so growth may not translate into valuation without fee or ordering rights.
Ondo Finance was founded by Nathan Allman. Raised on the US east coast, he studied economics and computer science at Brown University and joined Goldman Sachs, first supporting trading in the securities division and then moving to the digital assets team to work on structuring and compliance. He left in 2021 to start Ondo and served as CEO. He died in May 2026, and the management team he had built continues to run the firm.
Ian De Bode is now acting CEO and president. He had been chief strategy officer, came from digital asset and payments advisory at the US Treasury and McKinsey, and joined in 2023, owning relationships with custodians and market makers. Patrick McHenry is vice chairman, previously chairman of the US House Financial Services Committee, and handles policy; Mark Janoff is general counsel. Operations, compliance and institutional sales report to the acting CEO.
Ondo Finance has undergone significant team changes recently. After founder Nathan Allman passed away unexpectedly in May 2026, former president Ian De Bode took over as CEO. In June, John Hoffman, a former executive at Grayscale and Invesco, joined as Managing Director and Head of Product Portfolios to build onchain portfolio products. In July, former Blockchain.com CFO Adam Schlisman became Chief Financial Officer to oversee financial operations supporting institutional expansion. The company manages over $3.5 billion in tokenized assets and is moving from single-asset tokenization toward institutional-grade onchain capital market infrastructure.
Ondo Finance caps OUSG management fees at 0.15% and fund expenses at 0.15%, with the management fee waived until January 1, 2027.
Ondo Finance holds, through its Oasis Pro acquisition, US Securities and Exchange Commission (SEC) registrations as a broker-dealer, alternative trading system (ATS) and transfer agent, and a July 2026 Financial Industry Regulatory Authority (FINRA) authorization for tokenized equities and funds.