Ondo Finance ($ONDO) has launched 24/7 minting and redemption for tokenized US stocks and exchange-traded funds (ETFs). The service, previously limited to five days a week and paused on weekends and US public holidays, now operates around the clock.
The new capabilities are live on Ethereum and BNB Chain, and the team plans to bring them to Solana soon, per a June 25 statement. Minting creates a tokenized version of the underlying stock or ETF, while redemption returns the token for its underlying value.
Ondo explained in the statement: “With this upgrade, eligible users will be able to mint or redeem supported assets around the clock at the current prevailing price, creating a more continuous experience across the full tokenized stock lifecycle.”
Six Tickers Lead Rollout
Opening the expanded window are six of the most actively traded tokenized stocks on the platform: SPYon, QQQon, CRCLon, NVDAon, TSLAon and GOOGLon. These correspond to tokenized versions of the SPDR S&P 500 ETF, Invesco QQQ ETF, Circle, Nvidia, Tesla and Alphabet Class A shares.
Founded in 2021, Ondo Finance develops tokenized assets that bring traditional finance products onchain. According to DeFiLlama, its total value locked (TVL) sits in the mid-$3 billion range.
Crowded Tokenization Field
Ondo Global Markets, the platform’s tokenized-equity arm, already lists more than 430 tokenized stocks and ETFs, allowing 24/7 permissionless transfers. The new mint-and-redeem capability closes the final gap with secondary-market trading.
Competition in this space is growing. Wall Street firms like BlackRock, Franklin Templeton, JPMorgan and Goldman Sachs are active, alongside crypto-native players such as Securitize and Backed Finance’s xStocks.
At the time of writing, $ONDO traded at $0.30, down 3.2% over the past 24 hours. Trading volume was roughly $101 million, with a market cap near $1.5 billion, according to TradingView.
