Ondo Finance just launched a version of tokenized stocks that plugs directly into the same infrastructure Wall Street uses to settle nearly every U.S. stock trade, and the market responded im
Ondo Finance just launched a version of tokenized stocks that plugs directly into the same infrastructure Wall Street uses to settle nearly every U.S. stock trade, and the market responded immediately.
The ONDO token surged past $0.38 on July 16, its first notable price move in weeks. The rally was not driven by the recent resurgence of meme coins or broader crypto sentiment.
ONDO token price at press time (Source: coingecko) It followed the launch of a new tokenized-stock structure that ties Ondo's tokens directly to securities settled through The Depository Trust Company, or DTC, the organization that clears and settles the vast majority of U.S. stock trades.
Ondo debuted the first tokenized stocks backed by DTC Tokenized Entitlements, sometimes called digital twins, to securities held at DTC.
These entitlements are generated through the DTCC Tokenization Service and carry the same CUSIP and ticker symbol as the underlying security, meaning they represent a direct, traceable link to the real stock rather than a synthetic copy.
The first two assets using this model are Circle's publicly listed stock (CRCL) and the SPDR S&P 500 ETF Trust (SPY), represented onchain as CRCLon and SPYon. Both are Ondo Stocks tokens fully backed by their underlying security.
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Under this model, the DTC Tokenized Entitlements tied to CRCL and SPY act as digital twins of the securities already backing Ondo's existing CRCLon and SPYon tokens. Ondo connects to this system through Alpaca Markets, which links Ondo into the DTC participant network.
The underlying securities never leave DTC's custody infrastructure. What moves is the tokenized entitlement, the digital twin, which can convert between traditional and tokenized forms and distribute across exchanges, wallets, and DeFi platforms in Ondo's partner network.
That flexibility is what gives Ondo Stocks tokens more utility without compromising the custody chain that traditional finance relies on.
Source: Ondo FinanceOndo joins more than a dozen major TradFi and DeFi firms, including BlackRock, JPMorgan, Goldman Sachs, Nasdaq, and NYSE, participating in DTCC's largest tokenization initiative to date.
The DTCC Tokenization Service uses the same underlying DTC infrastructure that already clears and settles the majority of U.S. securities transactions.
"Ondo is the only company simultaneously building all pathways for U.S. securities tokenization," said Ian De Bode, CEO of Ondo Finance.
"Today's initiative with DTCC demonstrates that Ondo Stocks infrastructure is purpose-built to interoperate with institutional market infrastructure, not to compete with it."
Frank La Salla, President and CEO of DTCC, framed the initiative as a signal of institutional readiness for tokenization.
"DTCC demonstrated that we can apply the same institutional rigor to tokenization as we do for traditional assets while continuing to safeguard the integrity and resiliency of the global financial markets," La Salla said.
"The DTCC Tokenization Service will institutionalize tokenized markets on day one and will be a critical enabler of the digital ecosystem of the future."
As the DTCC Tokenization Service continues its planned rollout later this year, Ondo expects to extend this model further, making tokenized stocks based on DTC Tokenized Entitlements accessible across its global partner network of exchanges, wallets, and DeFi platforms.
The launch positions Ondo to deepen its role in U.S. capital markets infrastructure at a moment when tokenized securities are becoming increasingly intertwined with the traditional systems they were once seen as an alternative to.
Related: Ondo launches true 24/7 minting and redemption for tokenized stocks
