Ondo news

NEAR has partnered with Ondo Finance to offer eligible users access to 20 tokenized U.S. stocks, ETFs, and commodity-linked products via near.com and NEAR Intents. The initial lineup includes Tesla, Nvidia, Apple, Microsoft, Amazon, QQQ, SLV, and IAU. Users can fund purchases with crypto assets like Bitcoin and USDC without opening a separate brokerage account, and can hold or exchange the tokenized products within the same account. NEAR Intents facilitates routing across more than 30 blockchains, allowing users to state their desired outcome and letting independent solvers execute the transaction. Access extends beyond near.com to wallets and DeFi protocols connected to NEAR Intents, each with its own compliance procedures. However, U.S. persons cannot access Ondo Stocks due to securities restrictions, and users in some jurisdictions like the U.K., Switzerland, and Singapore may need to qualify as professional investors. The partnership adds a new distribution channel for Ondo, which has over $1 billion in total value locked and $26 billion in cumulative trading volume. Ondo has previously connected tokenized assets to Hyperliquid's HyperEVM and enabled transfers between Ethereum and BNB Chain. Ondo has also sought SEC approval for on-chain securities distribution in the U.S., but the Ondo Stocks product remains unregistered and restricted from U.S. persons.

NEAR has partnered with Ondo Finance to offer tokenized stocks and ETFs directly on near.com, enabling eligible users to access traditional market assets alongside crypto through a single account. The integration with Ondo Stocks, which has over $1 billion in total value locked and $26 billion in cumulative trading volume, initially features 20 assets including tokenized shares of Nvidia, Tesla, and Apple, as well as ETFs like QQQ. Users can transact with USDC, Bitcoin, and other supported assets across more than 30 networks, powered by NEAR Intents for seamless routing and execution without manual bridging or multiple wallets. Near.com also provides confidential execution for supported transactions. The partnership extends beyond the platform, allowing access to Ondo assets through other wallets and applications integrated with NEAR Intents, subject to eligibility and jurisdictional restrictions.

Ondo Finance has launched an in-kind conversion service allowing approved institutions to mint and redeem Ondo Stocks using underlying shares through Alpaca's Instant Tokenization Network, live on Ethereum and BNB Chain. This new route replaces the need for separate cash funding, aiming to reduce financing costs and improve secondary-market liquidity for market makers. Access is granted case-by-case, requiring active accounts with both Ondo and Alpaca. The service does not alter terms for ordinary token holders, who lack direct ownership rights to underlying securities. As of Sept. 22, RWA.xyz tracked $3.63 billion in distributed assets across 441 Ondo products. The launch follows recent U.S. regulatory developments, including an SEC order on tokenized securities venues, though Ondo did not state this service operates under that exemption.

Ondo Finance has launched a service allowing eligible institutions to convert stocks and ETFs directly into tokenized shares, or redeem tokens for the underlying assets. The in-kind conversion process works via an internal book transfer from Alpaca accounts to Ondo, issuing Ondo Stocks tokens onchain, and is available on Ethereum and BNB Chain. This new in-kind model differs from Ondo's existing cash-funded system, which required institutions to provide separate cash for minting tokens even if they already held the shares. The change is designed to reduce additional capital needs, financing costs, and timing mismatches for creating tokenized inventory. Access is limited to institutional clients approved by Alpaca, requiring active accounts with both platforms. Ondo has grown into a major tokenization platform, with approximately $3.63 billion in distributed assets across 441 products, ranking second behind Securitize, according to RWA.xyz data.

Ondo Finance is embroiled in a succession crisis following the death of founder and CEO Nathan Allman in May 2026. Company president Ian De Bode declared himself CEO in June, but Nathan's mother, Kathleen Allman, was granted control of the estate's shares by a Hawaii court. She then reconstituted the board and removed De Bode, leading to a legal battle in Delaware Chancery Court. The conflict is complicated by allegations from Kathleen's daughter that she suffers from dementia and alcoholism. The crisis stems from Ondo's single-director governance structure, which left no clear succession plan. Pending litigation raises questions about the validity of business decisions made during the contested period, casting uncertainty over the RWA platform's operations.

A legal battle over Ondo Finance has escalated after founder Nathan Allman died without a will, leaving his parents to inherit his estate, including a controlling stake and large ONDO token holdings. His mother, Kathleen Allman, has sued acting CEO Ian De Bode over an alleged attempt to seize control and secure a roughly $11 million compensation package. Now, Allman's half-sister Dr. Lani Clinton and investor David Chen have petitioned a Hawaiian court for a limited conservatorship over Kathleen Allman's share of the estate, alleging cognitive impairment, alcohol use disorder, and reckless spending. Kathleen Allman denies the claims, calling them baseless and accusing the petitioners of being associates of De Bode.

Ondo Finance's subsidiary, Oasis Pro Markets, has become the first tokenization platform to join the DTCC's Fund/SERV network, which processes over 85% of U.S. mutual fund transaction volume. This membership provides Oasis Pro, an SEC-registered broker-dealer, with a standardized connection to fund companies and distributors, potentially reducing the need for separate integrations. Ondo President Ian De Bode said the link allows the firm to reach multiple companies efficiently through existing industry infrastructure. The move follows Ondo's earlier participation in a DTCC tokenization working group and expands its U.S. regulated business. Oasis Pro holds registrations for broker-dealer, alternative trading system, and transfer agent services. The company has also expanded internationally, including a July agreement with Japan's SBI Group to tokenize Japanese stocks. Ondo stressed that the Fund/SERV membership addresses distribution and processing, not the legal status or regulatory approval of specific tokenized investment products.

Ondo Finance has announced that its subsidiary, Oasis Pro Markets, has become the first tokenization platform to join the DTCC's Fund/SERV network. This system processes over 85% of US mutual fund transactions, allowing Ondo's tokenized funds to be distributed through existing traditional finance infrastructure without requiring new technology from wealth platforms. The move follows Ondo's acquisition of Oasis Pro Markets in October 2025, which provided a licensed broker-dealer entry point, and follows months of collaboration with DTCC on tokenization initiatives. Ondo's Acting CEO described the membership as a key infrastructure step for mainstream adoption of tokenized funds.

Ondo Finance has petitioned the US Securities and Exchange Commission and Commodity Futures Trading Commission to permit perpetual futures tied to individual stocks, arguing the existing security futures framework can accommodate them. In three Aug. 24 comment letters, the firm stated the lack of a fixed expiration date should not disqualify these contracts, as recurring funding payments serve a function similar to traditional settlement. The request follows Ondo's offshore platform, operating through a Panama-based affiliate, which recorded $8 billion in cumulative trading volume by Aug. 14, roughly six weeks after launch. Ondo urged the agencies to bring this activity onshore, while acknowledging exchanges and brokers would still need to comply with registration, margin, and customer-protection rules. Separately, the Hyperliquid Policy Center made a similar proposal on the same day, citing its own equity perpetuals' $480 billion in trading volume. The SEC and CFTC are currently reviewing rules for blockchain-based derivatives and tokenized securities, with a memorandum of understanding signed in March to coordinate oversight. A regulatory pathway for such products could take 10 to 12 months if rulemaking is pursued.

Ondo Finance has urged US regulators to allow perpetual futures tied to individual stocks to operate onshore, arguing they fit within the existing security futures framework without new rules. In Aug. 24 comment letters to the SEC and CFTC, the firm highlighted that its Panama affiliate already offers such products offshore, with $8 billion in cumulative trading volume since launch. The company contends scheduled funding payments can replace traditional expiration dates. It also noted many underlying stocks trade primarily on US exchanges, recommending that both agencies actively pursue bringing this activity home. The proposal follows broader regulatory efforts to modernize rules for onchain products, including recent SEC and CFTC coordination and a proposed overhaul of transfer agent rules.