Tokenized real-world assets platform Ondo Finance, and leading oracle network Chainlink, have joined forces to accelerate adoption of tokenized stocks and exchange-traded funds onchain.
Summary
- Ondo and Chainlink team up to bring global finance onchain
- Chainlink is now the official oracle provider for tokenized stocks and ETFs.
- CCIP is the preferred interoperability solution for institutions within the ecosystem.
Ondo Finance and Chainlink said in an announcement on Thursday that their strategic partnership aims to bring global financial institutions to the blockchain. This comes as the platforms bid to build the infrastructure that will see the tokenization of trillions of dollars in real-world assets.
Why it matters
As part of the collaboration, Chainlink (LINK) is now the official oracle provider for Ondo Finance (ONDO) tokenized stocks and ETFs.
The partnership also makes Chainlink’s cross-chain interoperability protocol the preferred solution for institutional cross-chain initiatives within the Ondo ecosystem.
Teaming up also means Chainlink becomes a member of the Ondo Global Market Alliance, collaborative effort that brings together key industry players such as wallets, exchanges, and custodians. Global Markets Alliance targets adoption of tokenized securities as global markets come onchain.
Ondo brings over 100 tokenized stocks onchain
Leveraging Chainlink’s solutions to secure its tokenized stocks allows Ondo to redefine onchain access for traditional financial instruments.
Ondo Global Markets boasts over 100 tokenized stocks and ETFs onchain and over $300 million in total value locked. Chainlink’s solutions mean Ondo can tap into custom price feeds, with all key economic events, including dividends and valuations, accessible onchain.
Source: https://crypto.news/ondo-integrates-chainlink-to-power-institutional-adoption-of-tokenized-stocks-and-etfs/
