$ONDO Ondo Finance announced at 23:32 Beijing time on 10/27 that its tokenized U.S. stocks and ETFs can now be bridged from Ethereum and BNB Chain to Robinhood Chain. The first batch includes 15 assets.
Ondo tokenizes traditional assets such as U.S. stocks, ETFs, and U.S. Treasuries, allowing people to hold and transfer them using a wallet. ONDO is the governance token of its ecosystem.
At the same time, a batch of new pools was launched on Uniswap, pairing Ondo-issued stock tokens with Robinhood’s own stock tokens, with each pair representing the same stock.
Uniswap said the two types of tokens are like USDC and USDT: their values are supposed to be pegged to each other. So it is using StablePair, originally designed for stablecoins, to link them. This is the first time it has been used to pair assets other than stablecoins.
The significance is that tokenized stocks on-chain have traditionally been issued separately by different providers, with liquidity fragmented across different chains. Now, tokens representing the same stock from two major issuers can be swapped directly on Robinhood Chain. They say this also creates another avenue for arbitrage and market making while U.S. stock markets are closed on weekends.
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Ondo tokenizes traditional assets such as U.S. stocks, ETFs, and U.S. Treasuries, allowing people to hold and transfer them using a wallet. ONDO is the governance token of its ecosystem.
At the same time, a batch of new pools was launched on Uniswap, pairing Ondo-issued stock tokens with Robinhood’s own stock tokens, with each pair representing the same stock.
Uniswap said the two types of tokens are like USDC and USDT: their values are supposed to be pegged to each other. So it is using StablePair, originally designed for stablecoins, to link them. This is the first time it has been used to pair assets other than stablecoins.
The significance is that tokenized stocks on-chain have traditionally been issued separately by different providers, with liquidity fragmented across different chains. Now, tokens representing the same stock from two major issuers can be swapped directly on Robinhood Chain. They say this also creates another avenue for arbitrage and market making while U.S. stock markets are closed on weekends.
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