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ONDO Ondo Finance's native token ONDO soared nearly 20%
Ondo Finance's native token ONDO soared nearly 20% in the past 24 hours, thanks to a milestone in real-world asset tokenization. The agreement is the first to launch a stock tokenization representative based on the American Depository, Trust and Clearing Corporation's (DTCC)"DTC tokenized interests," putting Ondo at the heart of Wall Street's most important blockchain experiment to date.
Practical measures by Ondo and DTCC
On July 15, 2026, Ondo Finance launched the first batch of stock tokenized representatives based on DTC tokenized interests, and the corresponding securities are held in the American Depository Trust Company. The underlying assets include Circle's publicly traded shares (CRCL) and the SPDR S & P 500 Index ETF (SPY), represented on the chain as CRCLon and SPYon-these Ondo stock tokens are fully backed by their corresponding securities.
DTCC tokenization service uses the same DTC infrastructure as clearing and clearing most U.S. securities transactions, creating an efficient digital twin of DTC custody assets. These tokenized interests have the same CUSIP number and code as their underlying securities and can be converted between traditional and tokenized forms, opening up new liquidity pools and DeFi application scenarios.
Ondo, along with more than a dozen top traditional financial and DeFi companies, including BlackRock, JPMorgan Chase, Goldman Sachs, Nasdaq and the New York Stock Exchange, has participated in what DTCC describes as the largest tokenization initiative to date. The comprehensive commercial service plan will be launched in October 2026.
Ondo's growing role in RWA
This milestone adds institutional weight to the project, which has been expanding rapidly. According to DefiLlama, Ondo's total locked value (TVL) is US$3.68 billion, making it the largest tokenized real-world asset (RWA) platform by this measure. The agreement's tokenized stock and ETF platform "Ondo Global Markets" was launched on Ethereum in September 2025 and has since expanded to include BNB Chain, Solana and Hyperliquid.
Ian De Bode, CEO of Ondo Finance, described the partnership with DTCC as complementing rather than competing with traditional market infrastructure: "Ondo's equity infrastructure is specifically built to interoperate with institutional market infrastructure, not compete with it."
The broader DTCC pilot project handled the first real-time production transactions on July 15, 2026, covering tokenized stocks, ETFs and U.S. Treasury bonds, involving more than 40 participating companies. DTCC said this was its largest tokenized production event in terms of asset scope, application scenarios and number of participants. The comprehensive service is still planned to be launched in October 2026, when the platform will be open to a wider range of transaction volumes and participants.
For ONDO, this price change reflects the market's beginning to factor Ondo's position in the U.S. core capital market infrastructure into pricing considerations, rather than just treating it as a parallel player.
