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ONDO Core Points
Ondo Finance launched Ondo Private Markets on Tuesday to provide qualified investors with the opportunity to tokenize exposure to private companies before they go public.
The first tokenized note is linked to a pre-IPO AI company and is expected to begin secondary market trading this week. Subsequently, targets in the fields of robotics, cybersecurity, biotechnology and infrastructure will also be launched one after another.
These notes track the company's per share value at specific liquidity events and run on underlying infrastructure with a total lock-in value of $3.7 billion, Ondo said.
Ondo Private Markets officially launched
Ondo Finance (ONDO) said in an announcement that its new platform Ondo Private Markets aims to provide tokenized exposure to qualified investors, allowing them to participate in the economic performance of private companies before public listings.
This release aims to fill the access gap for private companies in wealth creation. According to Ondo data, 87% of U.S. companies with annual revenue of more than $100 million are private companies, and retail investors have been largely excluded from this growth. Institutional investors and venture capitalists often hold concentrated equity positions with multi-year exit cycles.
The first asset linked to a pre-IPO AI company is expected to begin secondary market trading this week. Ondo said that as its private market product system improves, tokenized notes related to robotics, cybersecurity, biotechnology and infrastructure will also be launched one after another.
Operating mechanism for tokenized notes
Investors gain exposure through tokenized notes rather than direct shareholding. The earnings on each note are linked to the value per share of the reference company's common shares achieved during a qualifying liquidity event. These notes are a debt obligation of the issuer and not shares of the underlying company, and therefore do not carry any ownership or shareholder rights.
According to Ondo, qualified investors in jurisdictions are allowed to enter, exit or adjust positions through permission-free transactions without having to wait for an IPO to achieve liquidity. In addition, these notes are transferable and composable along the chain, and holders can transfer them between wallets or deploy them for use in other decentralized finance (DeFi) scenarios.
Ian De Bode, Acting CEO and President of Ondo, said in a statement: "In the United States, the investment options available to retail investors are mainly concentrated in listed companies, yet 87% of companies with annual revenue exceeding $100 million are private companies. Ondo Private Markets was built to change that, bringing tokenized exposure to the world's best companies by providing 24/7 trading services on permission-free infrastructure."
Ondo pointed out that Private Markets shares the same underlying infrastructure as its tokenized stock and treasury bonds products, which together lock in a total value of US$37 billion and have cumulative holders of more than 1 million. Following the previous launch of tokenized treasury bonds and equity products, the company has positioned itself as a bridge connecting traditional finance and on-chain real-world assets (RWA).
The trend to move traditional securities onto the chain is not limited to Ondo. Multiple regulators, including South Korea's securities regulator, are also advancing plans to allow the existence of tokenized stocks and bonds.
