Get ready for some serious tokenization, folks! Ondo Finance, the real-world asset tokenization platform, has announced the launch of Ondo Chain – a layer-1 blockchain designed specifically for Wall Street firms to tokenize RWAs.
Ondo made the big reveal at their inaugural New York summit on February 6th. Chase Herro, co-founder of the Trump family’s World Liberty Financial, reportedly told the summit that the crypto platform would create a “strategic reserve” with tokens it holds – including the Ondo (ONDO) token.
Development of Ondo Chain will be advised by Ondo’s existing members, such as BlackRock, PayPal, and Morgan Stanley, and new members, including Franklin Templeton, WisdomTree, Google Cloud, ABN Amro, Aon, and McKinsey. Ondo Finance said.
Ondo’s layer 1 aims to enable a myriad of use cases for institutions, including prime brokerage with a cross-collateralized margin for RWAs, staking tokenized RWAs, and wealth management.
Ondo didn’t state when the layer 1 solution would launch.
The firm said Ondo Chain validators could stake RWAs to secure the network; however, they will run on a permissioned model to prevent MEV and front-running.
“This enhances investor protections and makes Ondo Chain suitable for institutions that need best execution guarantees.”
But anyone can issue tokens, develop apps, and participate, Ondo added. 😜
Trump family’s WLF strengthens ties with Ondo
Ondo’s announcement comes as World Liberty Financial’s Herro revealed that the platform plans to create a strategic reserve with the tokens it holds, Bloomberg reported on February 6th.
World Liberty’s token reserve would likely include the $470,00 worth of ONDO tokens it snapped up on February 6th, according to Arkham Intelligence data.
The platform had bought $270,000 worth of ONDO tokens on December 15th amid a nearly $45 million flurry of token purchases at the time that included Ether (ETH) and Coinbase Wrapped BTC (cbBTC).
The Trump family’s crypto platform currency holds $35.4 million worth of various cryptocurrencies.
Read More
- LDO PREDICTION. LDO cryptocurrency
- DUSK PREDICTION. DUSK cryptocurrency
- DGB PREDICTION. DGB cryptocurrency
- Blockchain is the best fintech to ensure Sharia ethics — Web3 exec
- EUR INR PREDICTION
- Looks Like DOOM 64 Is Getting a Native PS5 Port
- Marvel Rivals Season 1 is bringing the Fantastic Four — here’s the Invisible Woman in action
- JTO PREDICTION. JTO cryptocurrency
- Welcome Home
- TRB PREDICTION. TRB cryptocurrency
2025-02-07 08:15