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In a major milestone, tokenized equities are set to arrive on BNB Chain via Ondo Finance, giving users access to Wall Street liquidity.
According to a recent announcement, BNB Chain is set to expand access to Ondo's portfolio of tokenized assets, which includes over 100 U.S. stocks, ETFs and funds on-chain with the liquidity of traditional finance.
As part of this collaboration, BNB Chain has joined Ondo's Global Markets Alliance, which aims to streamline user access to tokenized real-world assets (RWAs) while also setting industry standards.
The expansion comes as the demand for real-world assets like bonds, funds and real estate on blockchain rails grows, with the market value of tokenized U.S. Treasuries rising to $7.54 billion. BNB Chain's participation demonstrates the growing momentum behind the tokenization of traditional assets.
Wall Street arrives quietly
As tokenization of traditional financial instruments, also known as real-world assets (RWA), gathers traction, trading platforms are rushing to bring Wall Street to blockchain.
In a similar move, Kraken and Backed Finance are introducing tokenized equities on the BNB Chain, allowing for 24/7 trading of stocks such as Apple and Nvidia.
This enables token equivalents of U.S. stocks such as Apple, Tesla and the S&P 500 ETF to be issued as BEP-20 tokens and made available to users across the BNB Chain ecosystem. BNB Chain has also joined the xStocks Alliance, a network of exchanges and decentralized finance (DeFi) protocols that allows users to trade 60 equity and ETF tokens on crypto rails.
Users will be able to deposit and withdraw xStocks tokens over BNB Chain in the coming weeks.
Vladislav Sopov
U.Today Editorial Team