Ondo Finance launches alliance with Solana, BitGo to tokenize RWA
Ondo Finance Forms Global Alliance to Accelerate Real-World Asset Tokenization
Decentralized finance platform Ondo Finance has announced the formation of the Global Markets Alliance—an industry partnership with eight crypto companies, custodians, and exchanges aimed at accelerating the adoption of financial assets on the blockchain.
According to Cointelegraph, the alliance, announced Tuesday, includes Solana Foundation, Bitget Wallet, Jupiter Exchange, Trust Wallet, Rainbow, BitGo, Fireblocks, 1inch, and Alpaca. Ondo hinted that additional members may join soon.
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Ondo Finance stated that the initiative is intended to "bring capital markets on-chain" and establish standards for interoperable tokenized equities.
Focusing on real-world asset tokenization, Ondo recently launched a layer-1 blockchain tailored for institutional on-chain assets. The platform offers tokenized treasury products backed by U.S. government debt.
According to DeFiLlama, Ondo's total value locked (TVL) has more than doubled over the past year, reaching nearly $1.4 billion as of June.
The tokenized RWA market continues to expand
With a more favorable regulatory environment in the U.S. and increasing global demand for U.S. financial products, the tokenized RWA market has grown 260% this year.
The overall RWA market—excluding stablecoins—was valued at $23 billion as of June, according to Binance Research. The year 2025 is expected to be record-setting, as more companies aim to bring traditional financial assets on-chain.
ONDO price dynamics for 24 hours. Source: CoinMarketCap
However, news of the alliance has not translated into growth for Ondo Finance’s native token (ONDO), which, like many altcoins, fell by double digits in the past 24 hours. According to CoinMarketCap, ONDO dropped 11% to around $0.74.
As we wrote, Trump-backed WLFI invests in Ondo Finance amid crypto market turmoil
