Ondo Finance's Global Markets platform exceeds 1 billion USD TVL

Ondo Finance announced that their Global Markets platform has exceeded 1 billion US dollars in total locked value (TVL) for stocks and encrypted ETFs, becoming a crypto stock platform.

5/12/20264 min read

Stock tokenization is a trend

The platform currently holds more than 70% of the market share among crypto stock issuers, has attracted tens of thousands of holders and handled more than $18 billion in cumulative trading volume - these indexes position the crypto stock as the next major category in the real asset encryption (RWA) field.

The total locked value (TVL) has doubled since January 2026 and grew faster than stablecoins in the early equivalent stages. Ondo Global Markets currently offers more than 260 US stocks and ETFs encrypted on Solana, Ethereum and BNB Chain, accessible by hundreds of millions of users through e-wallets, exchanges, custodians and leading protocols including Binance, Bitget, MetaMask and Blockchain.com. Each token is fully guaranteed by basic securities, held by a registered stock brokerage company in the US and tracking total profit including dividends.

"Exceeding the $1 billion mark of locked capital is evidence of the thesis that global investors want to access the US capital market through a more transparent, more accessible and more efficient infrastructure than the old system", Mr. Ian De Bode, Chairman of Ondo Finance, said.

Bring Wall Street to Web3 Wallet

Ondo Global Markets represents a fundamental reshaping of how the stock market works not by replacing traditional market infrastructure, but by integrating it into blockchain rails that enable capabilities that older systems could not have.

Each crypto stock (symbonyed by the suffix "on"—e.g. AAPLon for Apple, SPYon for S&P 500 ETF) represents 1:1 ownership of the underlying securities deposited at registered stock brokerages in the United States. When users create AAPLon, the platform will buy actual Apple shares in the traditional market and lock them in custody. When users exchange AAPLon, the platform will sell the underlying stock and return the proceeds.

This structure provides some main advantages over methods completely based on synthetic securities or derivatives:

1 - Real ownership: Token represents actual securities, not derivative securities or price difference contracts. Dividends and company activities are transferred automatically.

2 - Regulatory transparency: Securities custody takes place in a traditional and strictly managed infrastructure. Blockchain provides a transmission and programming layer, not a retention layer.

3 - Price reliability: Because tokens can be converted into underlying securities, price difference operations help token prices always stick to traditional market prices.

4 - Capital efficiency: Payment by blockchain allows instant transfer, mortgage and the ability to combine which in traditional systems will take many days.

Ondo has reached 1 billion USD TVL in less than 8 months, which is comparable to the growth rate of early-stage stablecoins and far exceeds the speed of many successful DeFi protocols. Meanwhile:

Maker DAO (stablecoin DAI): It takes about 2 years to reach TVL 1 billion USD
Aave (loan protocol): About 18 months to reach TVL 1 billion USD
Uniswap (DEX): About 15 months to reach TVL 1 billion USD
USDC (stablecoin): About 2 years from launch to maintaining circulation over 1 billion USD

Ondo Global Markets has achieved in 8 months what most other successful DeFi protocols take 1.5-2 years, showing special product-market suitability and strong marketing strategies.

Unlock advanced strategies

Along with the announcement of the total locked value (TVL) of 1 billion USD, Ondo has announced an integration with HyperEVM of Hyperliquid, allowing users to connect 35 crypto stocks and ETFs with one of the most liquid perpetual futures platforms in the cryptocurrency world.

Now, users can hold encrypted spot stocks on Hyperliquid and trade perpetual futures on those assets. This allows the implementation of classic price difference transactions, capturing the financing fee between the spot market and the futures market, which personal users previously could not do on traditional markets.

Traders can hedge the risk of spot stock price fluctuations by shorting perpetual contracts, creating market neutral positions, profiting from volatility, funding fees or specific events of the company without risking prices in a certain direction.

Melt Finance and Felix Protocol are among the first HyperEVM protocols to integrate Ondo's encrypted stock, showing the development of the ecosystem around these assets as the fundamentals of DeFi rather than individual products.

The Hyperliquid integration, supported by LayerZero's cross-chain messaging protocol, represents Ondo's strategy: making encrypted stocks common across the entire cryptocurrency infrastructure, allowing use cases to arise naturally from the ability to combine rather than centrally planned.

Global Compliance Navigation

Ondo's rapid growth comes in parallel with careful legal navigation, an important factor that makes it different from competitors operating in unclear jurisdictions or limiting themselves to narrow legal scopes.

Ondo secretly submitted the registration to the SEC. If approved, Ondo will become the first issuer of transferable encrypted shares under the supervision of the SEC. This represents an important legal milestone, going beyond individual offerings or offshore offerings to become SEC-registered securities that retail investors in the United States can access.

Received regulatory approval to offer crypto stocks and ETFs in 30 countries, allowing more than 500 million potential investors to access. This requires navigating the complex frameworks of MiFID II, AIFMD and other European securities regulations, which have hindered many cryptocurrency projects.

Ondo's encrypted securities are the first securities accepted for trading on Binance's Multilateral Exchange (MTF), managed by the ADGM Financial Services Authority. This provides access for Middle Eastern investors and sets a precedent for other regulated trading locations.

Evaluation and conclusion

The fact that Ondo Finance Global Markets surpassed the 1 billion USD TVL in less than eight months is not only an important milestone of the platform but also marks the transition of stock market encryption from an experimental concept to an established market infrastructure.

70% of the platform's market share, more than 260 crypto assets, regulatory approval in many jurisdictions, and integration across major blockchain ecosystems show that cryptographic stocks have achieved product and market fit. This is not a speculative bubble or a specific phenomenon of cryptocurrencies; but that global investors are voting by capital that blockchain-based equity access solves practical problems: geographical restrictions, limited trading hours, high minimum investment levels and the inability to use stocks in programmable financial applications.

The growth trajectory faster than the initial stablecoins, faster than most successful DeFi protocols, faster than any previously encrypted asset class shows that once the infrastructure barriers are overcome, the demand for encrypted real assets can increase rapidly. Treasury bonds have proven this point; stocks are confirming that; private credit and other assets will follow.

Disclaimer: The information presented in this article is the author's personal opinion in the field of cryptocurrencies. This is not financial or investment advice at all. Every investment decision should be based on careful consideration of your personal portfolio and risk tolerance. The opinion in the article does not represent the official position of the platform. We recommend that readers do their own research and consult experts before making any investment decisions.

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