Ondo Stocks differ from tokenized stocks like that of Robinhood's stock tokens mainly in where they live and what you can do with them. Ondo's 450-plus tokenized U.S. stocks and ETFs are free
Ondo Stocks differ from tokenized stocks like that of Robinhood's stock tokens mainly in where they live and what you can do with them.
Ondo's 450-plus tokenized U.S. stocks and ETFs are freely transferable tokens on three public blockchains, Ethereum, Solana and BNB Chain, and they plug into wallets, exchanges and DeFi apps.
Robinhood offers two products: Classic Stock Tokens, which are derivatives that stay inside its EU app, and newer Stock Tokens, which run on its own Robinhood Chain. Ondo also leads the sector by value, with $992.3 million of the $3.9 billion tokenized-stock market as of October 11, 2026.
Ondo Stocks is Ondo Finance's tokenized equities platform, renamed from Ondo Global Markets on July 13, 2026.
A tokenized stock is a blockchain token that tracks the price of a real share. Each Ondo token is backed by the underlying security, which is held at a U.S.-registered broker-dealer. The token tracks total return, so dividends are reflected in its value. The tokens are issued by Ondo Global Markets (BVI) Limited, a British Virgin Islands company, and are offered to investors outside the U.S.
Tokens carry an "on" suffix, such as AMZNon for Amazon or PLTRon for Palantir. Ondo says buyers get either the stock token or their stablecoins back in one atomic transaction, meaning the trade either fully completes or fully fails.
Because Ondo Stocks are standard tokens, other apps can integrate them. Real-world examples include:
Robinhood launched tokenized U.S. stocks and ETFs for EU users on June 30, 2025, first on Arbitrum. As of October 8, 2026, it runs two separate products.
Classic Stock Tokens cover more than 2,000 names. They are derivative contracts between an EU customer and Robinhood Europe, UAB, offered under the EU's MiFID II rules. Robinhood Europe is authorized by the Bank of Lithuania. A derivative is a contract that tracks an asset's price without giving you the asset itself. These tokens stay inside the Robinhood Europe app and cannot be sent to other wallets.
Robinhood Chain, a Layer 2 network built on Arbitrum Orbit, went live on mainnet on July 1, 2026. Its newer Stock Tokens:
Both companies track U.S. stocks with tokens, but their designs lead to different strengths.
Ondo tokenized stocks are permissionless and freely transferable, subject to certain jurisdictional restrictions. They run on Ethereum, Solana and BNB Chain, so they work with the wallets, exchanges and lending apps already on those networks. Robinhood's newer Stock Tokens are issued on one network, Robinhood Chain, and its Classic tokens cannot leave the app at all.
Ondo lists more than 450 tokenized assets. Robinhood's self-custody Stock Tokens cover more than 190. Robinhood's broader 2,000-plus list is only available as app-bound derivatives.
Ondo Perps accepts Ondo tokenized stocks as collateral, so holders can use them for margin instead of selling. Robinhood's Stock Tokens can also be supplied to lending pools on Robinhood Chain, but only on that one network. This is an example of composability, the ability of one onchain product to plug into another.
In February 2026, Ondo Global Markets confidentially filed a registration statement with the SEC. Once effective, it would make Ondo the first issuer of transferable tokenized stocks subject to SEC reporting rules. In early July 2026, Ondo also launched tokenized versions of BlackRock's iShares Core S&P 500 ETF (IVV) and Micron (MU) in the U.S. These follow the SEC's third-party custodial model and include shareholder voting through Broadridge.
Robinhood leads on trading activity. It captured 42% of onchain equity trading volume in September 2026, processing $6.57 billion, according to Forkast. Neither company's main offshore product gives standard shareholder rights.
Ondo is the largest tokenized-stock issuer by onchain value, though rankings change depending on the measure used.
Beyond its size, several features set Ondo's approach apart from Robinhood's:
Ondo Stocks offers more than 450 tokenized assets on Ethereum, Solana and BNB Chain, backed by underlying securities and usable across wallets, exchanges and Ondo Perps. Robinhood offers app-bound derivatives in the EU and self-custody debt-security tokens on its own chain, and it leads in trading volume. Ondo held $992.3 million of the $3.9 billion tokenized-stock market on October 11, and it owns an SEC-registered transfer agent and a U.S. broker-dealer.
