Activity around Ondo Finance [ONDO] is picking up! This is happening in tandem with its new infrastructure and partnerships, so it looks like good days are ahead.
Here’s the latest.
Ondo Finance’s on-chain activity shoots up
Per Santiment Intelligence, new addresses have increased for three straight days. The metric hit 754 on July 16; that’s about twice the pace seen earlier in the month. Daily active addresses also followed the pattern, going from 1,410 to 2,589 over the same period.
The key inference here, is that new developments have attracted attention to the platform.
Ondo recently launched tokenized stock representations using entitlements generated through DTCC’s tokenization infrastructure. This connects its products more closely with the systems used in traditional US markets.
The company stated that with this, they’re joining a select club of leading TradFi and DeFi firms. Some of the other well known names include BlackRock, JPMorgan, Goldman Sachs, Nasdaq, and the NYSE.
It also partnered with Japan’s SBI Group to bring Japanese equities onchain. The aim is to distribute Ondo products through SBI’s network and explore the use of a yen-backed stablecoin for settlement.
About the same, Ian De Bode, CEO, Ondo Finance, said,
This collaboration creates a path to bring Japanese assets onchain and to connect Japan with the global tokenized economy.
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