Ondo Finance is moving deeper into private markets with a new product line called Ondo Private Markets. The platform said its first offering will give eligible investors tokenized exposure to an unnamed artificial intelligence company that is still private and preparing for a future public listing. The structure does not transfer ownership of the company’s shares. Instead, the notes are designed so that payouts track the value realized per common share at a qualifying liquidity event.
According to Ondo, eligible investors will be able to keep the notes in self-custody wallets or trade them on secondary markets on a 24/7 basis. The company said the first notes are expected to begin trading this week. It also plans to roll out similar products linked to companies in robotics, cybersecurity, biotech and infrastructure.
Ondo added that its tokenized equities platform, Ondo Stocks, now has more than $1 billion in total value locked and offers more than 450 tokenized US stocks and exchange-traded funds. The move comes as other firms also push into private-market access. In April, Robinhood’s venture fund invested $75 million in OpenAI common stock for exposure through a publicly traded closed-end fund, while Citi was reported in June to be preparing a blockchain marketplace for private-company shares.
Ondo Finance is expanding into private markets with tokenized exposure to an unnamed pre-IPO artificial intelligence company.
Ondo rolls out Private Markets
The real-world asset tokenization platform introduced Ondo Private Markets, a product line built around tokenized notes. Ondo said payouts on the notes are linked to the value realized per common share of the referenced company at a qualifying liquidity event. The structure gives investors economic exposure, but not direct ownership of the company’s shares.
Eligible investors will be able to hold the notes in self-custody wallets or trade them on secondary markets around the clock. Ondo said the first notes are expected to start trading this week.
More sectors are planned
The company said products tied to businesses in robotics, cybersecurity, biotech, infrastructure and other sectors are planned to follow.
Ondo Stocks tops $1 billion in TVL
According to Ondo, Ondo Stocks, its platform for tokenized US stocks and exchange-traded funds, has more than $1 billion in total value locked and offers more than 450 tokenized stocks and ETFs.
Private-market tokenization is drawing more entrants
Other platforms have also moved into private markets. In April, Robinhood’s venture fund invested $75 million in OpenAI common stock to give retail investors exposure through its publicly traded closed-end fund. Citi was reported in June to be launching a blockchain marketplace for private-company shares.
A related Cointelegraph report said Franklin Templeton and Ondo are also set to launch tokenized ETFs with 24/7 trading through crypto wallets.
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