ONDO saw double-digit losses on Tuesday despite Ondo Finance’s announcement that it has launched the Global Markets Alliance, comprising crypto wallet providers, exchanges, and institutional custodians to improve the adoption of tokenized real-world assets (RWAs). Ondo Finance announced the launch of the Global Markets Alliance, a coalition focused on establishing shared standards and infrastructure for tokenized real-world assets (RWAs), according to a press release issued on Tuesday. The alliance brings together crypto wallet providers, exchanges and custodians to drive adoption and interoperability for RWAs.
The founding members of the Global Markets Alliance include the Solana Foundation, Bitget Wallet, Trust Wallet, Rainbow Wallet, Jupiter, BitGo, Fireblocks, 1inch and Alpaca. The group aims to expand access to tokenized securities among retail and institutional users.
“With Ondo Finance’s blockchain‑native infrastructure, wallets, exchanges, and other partners will be able to seamlessly offer both crypto and traditional financial products side by side. We’re thrilled to collaborate with leading platforms to ensure a seamless, secure, and interoperable experience for investors globally,” said Nathan Allman, CEO of Ondo Finance.
Each partner will adopt Ondo’s tokenized asset standards to provide access to on-chain real-world assets (RWAs). Bitget Wallet, Trust Wallet and Rainbow Wallet allow users to store and manage these assets through self-custody. Jupiter and 1inch will simplify the wallet integration of real-world assets with deep liquidity.
On the other hand, institutions like BitGo will provide regulated custody services across various jurisdictions, focusing on qualified solutions to meet compliance standards. This will include support for “off-exchange settlement” to reduce trading risk, reflecting traditional finance market structures. Meanwhile, Fireblocks will deliver secure wallet technology powered by multi-party computation (MPC) for fast institutional trading, while Alpaca will offer brokerage trading support for tokenized securities.
The alliance comes as Ondo Finance prepares to launch Ondo Global Markets. Ondo Global will serve as a tokenization platform, enabling apps and wallets to provide non-US users with access to on-chain US public securities, including stocks, ETFs, and mutual funds. Ondo Finance has also been working with Chainlink to test cross-chain Delivery versus Payment (DvP) transactions with JPMorgan Chase’s blockchain arm, Kinexys. ONDO, the native token of Ondo Finance, has declined by 10% over the past 24 hours despite the recent announcement.
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