Tokenized Securities Provider Ondo Finance Announces APAC Expansion

Ondo Finance, a U.S.-based issuer of tokenized securities, announced today the opening of its first office in the Asia Pacific region.

The company, which claims to have occupied close to 40% of the global market share of tokenized securities, currently offers three tokenized products — OUSG, OMMF and USDY — which allows exposure to U.S.-based asset classes such as U.S. Treasuries and money market funds.

"There is an active and rapidly growing crypto community and an appreciation for the type of high-quality exposure to U.S. assets that our tokens provide," Nathan Allman, founder and chief executive officer of Ondo, said in the press release.

Ondo has appointed Ashwin Khosa, who had worked for Tether and Bitfinex, as the vice president of business development for the APAC region. 

In November, Ondo and the Mantle Network launched USDY, a tokenized note secured by U.S. Treasuries and bank deposits. Ondo also launched USDY on Solana in December, according to its X post.

Ondo did not specify its APAC office location in the statement. It did not immediately respond to The Block's request for comment.

Source: theblock.co