Listed on major companies
On the 23rd, the US virtual currency exchange Coinbase announced new listed stocks related to RWA (Real Assets).
The new stock scheduled to be listed is Ethereum-based Ondo Finance (ONDO), which has already started trading in the ONDO-USD currency pair.
Our ONDO-USD trading pair is now in full-trading mode on @CoinbaseExch and Advanced Trade. Limit, market and stop orders are all now available.
— Coinbase Exchange 🛡️📞 (@CoinbaseExch) January 22, 2024
Ondo Finance is a US-based Web3 financial services company that uses Ethereum (ETH), Polygon (MATIC), and Solana (SOL) as RWA (real-world asset) stablecoins that are backed by US short-term government bonds and bank deposits. ”, “OUSG”, which is a tokenized version of BlackRock’s short-term government bond ETF (exchange traded fund), and “OMMF”, a US money market fund token. Please note that these tokens are not available in the United States.
connection: Ondo Finance expands RWA token to Solana (SOL)
What is RWA?
Abbreviation for “Real World Asset.” RWA that is tokenized on the blockchain includes real assets such as real estate, artwork, trading cards, and securities such as stocks and bonds.
▶️Virtual currency glossary
connection:Why investors are interested in real asset tokenization and what is Real World Assets (RWA)?
ONDO Token is Ondo’s governance token and was launched just last week. It has already been listed physically on Bybit and KuCoin, but Binance started handling it as a perpetual futures contract on the 20th of last week.
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Ondo expansion in Asia
Ondo Finance’s products (tokens) mentioned above have a market share of about 40% in the RWA field, but they are planning to expand into the Asian market with the aim of further expansion.
Yesterday, the company announced its expansion into the Asia-Pacific region (APAC) by opening its first office there.
“The crypto community is active and rapidly growing, and there is strong global recognition for the high-quality exposure to U.S. assets that our tokens provide,” CEO Nathan Allman said in a press release.