Ondo Moves Into Pre-IPO Markets With Tokenized Notes Linked…
By Abdelaziz Fathi
AI summary of the source article
Ondo Finance is expanding beyond public securities and Treasurys with the launch of Ondo Private Markets for eligible non-U.S. investors. The platform allows secondary-market trading of transferable blockchain-based notes referencing private companies, starting with an undisclosed pre-IPO artificial intelligence firm. The tokens confer economic exposure tied to a qualifying liquidity event payout rather than equity ownership or voting rights, introducing issuer credit risk alongside valuation risk. Ondo plans to expand into sectors such as robotics, cybersecurity, and defense, following a broader industry trend toward tokenizing private assets seen at institutions like Citigroup and crypto platforms like Bitget.
Why it matters
The initiative represents a push to tokenize illiquid private-market assets and enable 24/7 secondary trading without requiring investors to wait for traditional IPOs.
Key facts
- Ondo Private Markets offers tokenized notes providing economic exposure to private companies for eligible non-U.S. investors.
- Investors hold claims against the note issuer linked to liquidity events, receiving no direct shares, voting, or ownership rights.
- Ondo reports $3.7 billion in total value locked and over 1 million cumulative holders across its tokenized stocks and Treasury products.