Business News Report
January 22, 2024

Ondo Finance Expands to Asia Pacific, Eyes Crypto Community Exposure

Ondo Finance Initiates Asia Pacific Expansion, Eyes Integration into Crypto Community

RWA tokenized investment protocol Ondo Finance announced the establishment of its first office in the Asia Pacific (APAC) region. This strategic move is anticipated to facilitate the company’s integration into the Asian crypto-favourable environment aligning with the region’s rising interest in digital assets.

Furthermore, Ondo Finance believes that the expansion will be enhanced by the region’s substantial wealth and diverse investor base.

The company claims to hold nearly 40% of the global market share in tokenized securities and presently provides three tokenized products—OUSG, OMMF and USDY. These products enable exposure to asset classes based in the United States, including US Treasuries and money market funds.

“There is an active and rapidly growing crypto community and an appreciation for the type of high-quality exposure to U.S. assets that our tokens provide,” said Nathan Allman, founder and chief executive officer of Ondo Finance, in a written statement.

The company named Ashwin Khosa as the Vice President of Business Development for the APAC region. Ashwin Khosa brings previous experience from roles at Tether and Bitfinex, to his new position.

Ondo Finance Solidifies Presence with Tokenized Assets for Institutions

Founded in 2021, Ondo Finance is a technology company based in the United States that aims to democratize access to institutional-grade financial products and services. The company is engaged in tokenization of securities and advancement of decentralized protocols to enhance utility and distribution of the tokens. 

Ondo Finance leadership team has prior experience in managing the Goldman Sachs’ Digital Assets team. Collaborating with institutional partners such as Blackrock and Morgan Stanley, Ondo Finance has garnered support from venture capital firms including Founders Fund, Pantera Capital and Coinbase Ventures.

Last year, Ondo Finance collaborated with the decentralized autonomous organization-led web3 ecosystem, Mantle Network, to introduce USDY. This tokenized note is backed by US Treasuries and bank deposits. Subsequently, the company expanded the availability of USDY on the Solana blockchain.

Recently, cryptocurrency exchange Coinbase announced the addition of Ondo Finance (ONDO), to its listing roadmap. ONDO is currently listed as an asset on the Ethereum blockchain.

With a strategic expansion into the APAC region and the strengthening of its presence in the thriving Asian crypto ecosystem, Ondo Finance is positioning itself as a key global player in tokenized securities, further solidifying its position.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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Alisa Davidson
Alisa Davidson

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at [email protected]

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