Ondo Finance announced the creation of the Global Markets Alliance, a new coalition that includes key players in the crypto industry. The alliance aims to create common standards for tokenized securities.
Alliance Announcement and Goals
On June 17, Ondo Finance announced the formation of the Global Markets Alliance, which includes organizations such as the Solana Foundation, Fireblocks, BitGo, and Trust Wallet. The main objective of the alliance is to develop technical and regulatory standards for tokenized public securities like stocks and exchange-traded funds, focusing on global accessibility and investor protections.
Members' Views on Tokenized Assets
Ondo's CEO Nathan Allman noted that the initiative represents a significant step towards addressing long-standing inefficiencies in global capital markets and promoting financial inclusion. "Access to U.S. capital markets has historically been gated and inefficient," Allman added. Eowyn Chen, CEO of Trust Wallet, commented: "Tokenized securities are a foundation for the next era of global finance. We see them as a bridge between today’s crypto users and a future where anyone with a smartphone can access real-world opportunities."
Recent Achievements of Ondo Finance
In recent months, Ondo Finance has achieved several significant milestones. The company brought its tokenized U.S. Treasuries to the XRP Ledger, completed a cross-chain settlement using JPMorgan’s technology and Chainlink, and launched instant conversions between its OUSG fund and PayPal’s PYUSD stablecoin. With the formation of the Global Markets Alliance, Ondo is setting the stage for tokenized securities to grow into an integrated part of global financial infrastructure.
The establishment of the Global Markets Alliance underscores Ondo Finance's commitment to advancing tokenized assets within the modern financial system, potentially leading to more open and accessible markets.
