$ONDO Finance has launched the Global Markets Alliance, bringing together key players from across the crypto industry to advance the adoption of tokenized real-world assets (RWAs). Announced Tuesday, the alliance includes prominent members such as the Solana Foundation, Bitget Wallet, Jupiter Exchange, Trust Wallet, Rainbow, BitGo, Fireblocks, 1inch, and Alpaca.
The initiative aims to “bring capital markets onchain,” according to Ondo Finance, with a focus on interoperability standards for tokenized stocks and other financial assets. More firms are expected to join the alliance in the near future.
Ondo Finance, which specializes in tokenizing U.S. Treasury products and other institutional-grade assets, has seen rapid growth. The platform’s total value locked (TVL) has surged past $1.4 billion — more than doubling over the past year, according to DeFiLlama.
The formation of the alliance comes amid a broader industry push into tokenized RWAs. According to a Binance Research report, the market for RWAs excluding stablecoins has reached $23 billion in 2024, led by demand for tokenized private credit and Treasurys.
Ondo recently launched its own layer-1 blockchain optimized for institutional asset issuance, and participated in a cross-chain settlement trial with JPMorgan and Chainlink.
As tokenization gains momentum, platforms like Alchemy Pay and Robinhood are also making moves into the space, signaling a growing convergence of traditional finance and blockchain infrastructure.
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