Ondo Finance has entered into an agreement with Deutsche Börse’s post-trade subsidiary Clearstream and its DLT Pilot Regime trading venue 360X in connection with Ondo tokenized stocks and ETFs. Ten of the most popular securities are now live for trading on 360X alongside Kraken’s xStocks which have been live for a couple of months.
The tokenized stocks are structured notes issued by a BVI special purpose vehicle, Ondo Global Markets. They do not provide ownership of the underlying US stock but track stock prices and income, similar to xStocks. Blockchains where the Ondo tokens are available include Ethereum, Binance Chain and Solana.
The collaboration extends well beyond trading. In a subsequent phase, Clearstream plans to integrate the tokens into its solutions for settlement, post-trade and collateral, meaning institutions would be able to use the Ondo structured notes as collateral within existing workflows. Ondo also plans to tokenize European listed securities where Clearstream will provide custody of the underlying assets. The relationship is two-directional. Clearstream will also make assets it holds in custody available to Ondo in tokenized form for distribution to Ondo’s global client network outside the United States.
“Having Ondo tokenized assets custodied within Clearstream’s network means institutions can access the benefits of onchain securities through the same trusted infrastructure they already rely on,” said Matthieu de Vergnes, MD, Global Head of Institutional at Ondo Finance. Carlo Kölzer, co-CEO of 360X and Global Head of FX & Digital Assets at Deutsche Börse Group, noted that the integration meets “the specific technical and oversight requirements of our institutional participants.”
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
