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London, England
Joined June 2016
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Pretty big 1st year if you ask me
One year of pioneering tokenized stocks.
Today marks one year of Ondo Stocks. Since launch, the tokenized stock market has grown nearly 23x, from roughly $100M to almost $3B.
Ondo Stocks did more than participate in that growth. It defined the category:
→ First to bring TradFi liquidity onchain
→ First to reach $1B in tokenized stock TVL
→ First to bring deep liquidity to 24/7 trading
Year one proved tokenized stocks can scale. The next chapter is about the new products and markets tokenization makes possible.
Billions today. Trillions tomorrow.
Introducing Ondo Network.
Financial infrastructure always meant tradeoffs: speed, privacy, control, verifiability. You bought one by giving up another. Those tradeoffs seemed inherent.
They weren’t: They came from forcing execution, verification, and settlement into one place.
Introducing the Ondo Network, the execution layer for open financial markets, and the evolution of our vision for Ondo Chain.
Fast and private like a CEX. Verifiable like a blockchain. Non-custodial in design.
How it works:
→ Enclaves for private, high-speed execution
→ Decentralized attestors for verifiability
→ Blockchains for asset transfer settlement
The first application powered by the Ondo Network is @OndoPerps, the high-performance perpetual futures platform.
But the Network is not a perps-specific system. It is general-purpose infrastructure for any application that needs execution speed, privacy, and distributed, verifiable correctness. Spot markets, structured products, lending markets, and more can all be built on it.
Our mission has always been to make finance more accessible, and blockchain was our most powerful tool for getting there. But we always let the goal, not the technology, lead. And building for Ondo Perps, we realized that addressing the infrastructure constraints that matter today didn’t require us to build a chain — at least in the traditional sense — at all.
Financial infrastructure always meant tradeoffs: speed, privacy, control, verifiability, you bought one by giving up another. Those tradeoffs seemed inherent. They weren’t. They came from forcing execution, verification, and settlement into one place. Separate them, and you can have the right technology for the right use. That’s the Ondo Network.
Though the Ondo Network was first launched to enable Ondo Perps, this is only just the beginning of what can be done, including further opening the attestor set, proof-of-stake security, onchain state settlement, additional cryptographic proofs, selective privacy, and novel roles for staking.
Note that with each of these, the Ondo Network starts to look more like what people have always actually valued in a blockchain: many independent operators, one shared history, security that comes from economics and cryptography instead of mere trust, and rules anyone can check. But it does so in a way that gives users the speed and privacy they want.
That’s why the Ondo Network is really the continuation of what we set out to build with Ondo Chain. It isn’t a blockchain today; it doesn’t need to be. But as the Network evolves, we expect that distinction to get harder to make. While the Ondo Network isn’t the blockchain we initially planned, it’s actually the truer expression of why we wanted one.
The future of open financial markets won’t be defined by onchain or offchain, but by the properties that they need to function: speed, privacy, robustness, verifiability, composability, and access, all in different measures for different use cases.
The Ondo Network is not a bet on any one technology, but on the goal every technology we’ve adopted was meant to serve: a financial system genuinely accessible to everyone. One that’s composable and non-custodial. Verifiable without being fully visible. Fast without being centralized. Private without being opaque.
The Ondo Network is the evolution of the vision for Ondo Chain. And the first version is live today.
Innovation, on innovation, on innovation
Weekend trading just got a major upgrade.
10 more of the most in-demand Ondo Stocks are now live with real 24/7 trading:
→ AMD
→ Intel
→ Micron
→ TSMC
→ Marvell
→ SpaceX
→ SanDisk
→ Broadcom
→ SK hynix
→ Arm Holdings
That brings the 24/7 lineup to 16 assets, joining SPYon, QQQon, CRCLon, NVDAon, TSLAon, and GOOGLon 🧵↓
Thomas retweeted
Ondo Perps is now open to all eligible traders, offering up to 20x leverage on the equities, indices, and commodities that global investors most want to trade.
For the first time on a permissionless perps platform, tokenized stocks and ETFs can be posted as collateral alongside stablecoins.
The design draws on what we learned building Ondo Global Markets. Rather than requiring market makers to pre-fund large pools of tokenized assets, we built Ondo Global Markets around a just-in-time liquidity model that connects directly to the depth already sitting in the underlying markets.
Ondo Perps extends that same lesson to derivatives. Market makers can quote based on real market depth and hedge by posting the tokenized stock itself as collateral. One pool of capital doing what used to take two.
During private beta, nearly $2 billion in volume traded through the platform, showcasing how much appetite there is for equity perps built on real market liquidity.
Tokenized securities put real-world assets within reach of anyone with an internet connection. Ondo Perps is how you trade them. The collateral model that connects the two is the foundation for what comes next.
Ondo Perps is live.
Up to 20x leverage on equity perps is here, with tokenized stocks as collateral & up to $3 million in rewards.
Ondo technology first revolutionized tokenized stocks & now powers perps markets for:
✅ Oil
✅ Intel
✅ Gold
✅ AMD
✅ Meta
✅ Tesla
✅ Silver
✅ Apple
✅ Circle
✅ Nvidia
✅ Oracle
✅ Netflix
✅ DRAM
✅ Micron
✅ US 100
✅ US 500
✅ SpaceX
✅ Palantir
✅ Amazon
✅ Strategy
✅ Alphabet
✅ Coinbase
✅ Microsoft
✅ Robinhood
All available for permissionless trading 24/7/365.
Ondo Perps is the first platform to allow tokenized stocks as collateral, available now for Pre-Alpha users. RWA perps can now trade on a platform built to deliver liquidity and capital efficiency on par with traditional derivatives exchanges.
Traders can deploy capital in size, run sophisticated strategies, and seamlessly manage risk all on a single platform that eliminates the constraints of traditional derivatives venues.
No expiry. No closing bell. Just institutional-grade execution on the world’s most-traded markets.
Accessible now to billions globally outside the U.S., Panama, and other prohibited jurisdictions.
Insane. Quite literally, just getting started.
$1,000,000,000
Ondo Perps has surpassed $1 billion in cumulative trading volume per @DefiLlama, while in Public Beta.
RWA perps are just getting started.
Just use Ondo
You can post onchain liquidity all you want for assets that are designed for intent-based minting, you wont actually beat Ondo slippage. Buyer beware.
@OndoFinance beats all the competitors on liquidity and price, always.
Thomas retweeted
The biggest IPO in history.
Tokenized on day one.
SPCXon, coming to Ondo Global Markets.
Two feet on the gas pedal.
We are not slowing down, because slowing down would honor neither what Nate built nor what his family has asked of us.
We will honor Nate by continuing what he started. And we will win.
It’s unbearably sad news to have lost Nate.
Nate was an incredible man, with the highest standards and the clarity to always make the right call.
He was a true visionary and was always 10 steps ahead.
His belief and trust in me was one of the proudest achievements of my working career.
I wish his family, friends, and colleagues strength.
Thank you for everything, Nate. I will never forget you.
We will make you proud.
It is with profound sadness that we announce the unexpected passing of Nathan Allman, Ondo's founder. Our hearts are with his family and loved ones.
Nate’s brilliance, humility, and drive shaped every part of what Ondo is today. His belief in the power of technology to create a more open, accessible financial system lives on in everything we build. The impact he had on this industry, and on all of us personally, cannot be overstated.
Nate also helped us build a durable organization with experienced leaders across all facets of the business. Ian De Bode, Ondo Finance’s longtime President, will serve as CEO. Ian has been leading our strategy, product, and day-to-day operations for over two years and has the full confidence of the leadership team.
We will continue building what Nate started. That is the most meaningful way we know to honor him.
Ondo tokenized stocks just hit $1B TVL.
What got us here? An obsessive focus on liquidity, accessibility, asset selection, and investor protections.
One billion down. Trillions to go.
$1,000,000,000+ in tokenized stock TVL.
In less than 8 months, Ondo Global Markets became the first tokenized stock & ETF platform to reach $1 billion in TVL, one of the fastest climbs in the history of onchain finance.
Ondo Global Markets has established itself as the standard for tokenized stocks and ETFs:
→ Over 70% market share
→ Tens of thousands of holders
→ Over $18B in cumulative volume
→ Live across @solana, @BNBCHAIN & @ethereum
Since launch, the platform has scaled to 260+ tokenized stocks & ETFs, expanding access to the world's most in-demand sectors across AI, biotech, defense, energy, and more.
The pace of tokenization is accelerating with every new asset class. What took stablecoins and tokenized Treasuries years, Ondo tokenized stocks and ETFs achieved in under a year, faster than any asset class before them.
This milestone reflects a generational shift in how global investors access capital markets, one that is more transparent, more accessible, and more efficient than the legacy system.
One billion down. Trillions to go.
Tokenized treasuries: niche → mainstream. Ondo.
Tokenized stocks: niche → mainstream. Ondo.
Stock perps: niche → mainstream? @OndoPerps (soon).
Binance listed Ondo tokenized stocks, then weeks later led all exchanges in tokenized stock TVL
Lesson in there
Ondo, Kinexys by @jpmorgan, @Mastercard, & @Ripple successfully completed a landmark pilot transaction connecting the XRP ledger with interbank settlement rails.
This milestone marks the first time tokenized U.S. Treasuries have settled across borders and banks in near real time and outside traditional banking windows.
1. Ondo processed Ripple’s OUSG redemption on XRP Ledger
2. Mastercard's Multi-Token Network routed instructions to Kinexys by J.P. Morgan
3. J.P. Morgan delivered USD to Ripple's Singapore bank account
Tokenized assets are no longer separate from the global financial system. For the first time, a public blockchain and global banking infrastructure settled a cross-border transaction of a tokenized fund together in real time.
Together, we’re laying the groundwork for 24/7 global markets that never close.
The launch of Ondo Global Markets tripled the tokenized stock asset class by TVL in one month.
Tokenization done right… or as BlackRock called it, “the gold standard.”
4/ Tokenized stocks scaled to $0.5B since launch in mid 2025 📊
• Circle leads the asset class with 35.2% market share at $171.39M, followed by Tesla at $61.70M.
• @OndoFinance's September 2025 launches drove the asset class to 3x in market cap within a single month.
