Ondo has just announced Ondo Private Markets, a platform for tokenizing private, unlisted companies. The first token is tied to an unnamed AI company and is expected to open for trading this week.
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- Buyers hold a tokenized debt note, with no equity or voting rights. The note promises a payout based on the company's share value when it IPOs or gets acquired.
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- Until then, the token can still be traded 24/7 on the secondary market, as long as there's a buyer and you meet the trading requirements. Its price depends on supply, demand, and market expectations.
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- Legally, the product is only available to people in eligible regions outside the US.
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- A similar product already exists: Republic's Mirror Tokens, which also only give holders a debt note with no shareholder rights. The difference is that Republic locks tokens for 12 months after issuance, while Ondo lets eligible users trade as soon as trading opens.
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- That said, it's still unverified whether the tokens are backed 1:1 by real shares, or how the underlying assets are held. The 24/7 secondary market liquidity also has yet to be proven.
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👉 Ondo is one of the projects set to benefit as the SEC opens a regulatory path for tokenization.
$ONDO $US $龙虾
⠀
- Buyers hold a tokenized debt note, with no equity or voting rights. The note promises a payout based on the company's share value when it IPOs or gets acquired.
⠀
- Until then, the token can still be traded 24/7 on the secondary market, as long as there's a buyer and you meet the trading requirements. Its price depends on supply, demand, and market expectations.
⠀
- Legally, the product is only available to people in eligible regions outside the US.
⠀
- A similar product already exists: Republic's Mirror Tokens, which also only give holders a debt note with no shareholder rights. The difference is that Republic locks tokens for 12 months after issuance, while Ondo lets eligible users trade as soon as trading opens.
⠀
- That said, it's still unverified whether the tokens are backed 1:1 by real shares, or how the underlying assets are held. The 24/7 secondary market liquidity also has yet to be proven.
⠀
👉 Ondo is one of the projects set to benefit as the SEC opens a regulatory path for tokenization.
$ONDO $US $龙虾