Robinhood

DeFi

Ondo

<a style="text-decoration:none" href="https://bsc.news/post/ondo-ecosystem-deep-dive-onchain-finance-2025" rel="noopener noreferrer nofollow">Ondo</a> Stocks differ from tokenized stocks like that of Robinhood's stock tokens mainly in where they live and what you can do with them.&nbsp;
Ondo's 450-plus tokenized U.S. stocks and ETFs are freely transferable tokens on three public blockchains,&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/what-is-ethereum-eth-how-it-works-explained" rel="noopener noreferrer nofollow">Ethereum</a>,&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/solana-blockchain-ecosystem-deep-dive" rel="noopener noreferrer nofollow">Solana</a> and&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/what-is-bnb-chain-layer-one-blockchain-guide" rel="noopener noreferrer nofollow">BNB Chain</a>, and they plug into wallets, exchanges and&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/decentralized-finance-defi-comprehensive-guide" rel="noopener noreferrer nofollow">DeFi</a> apps.&nbsp;
Robinhood offers two products: Classic Stock Tokens, which are derivatives that stay inside its EU app, and newer Stock Tokens, which run on its own Robinhood Chain. Ondo also leads the sector by value, with $992.3 million of the $3.9 billion tokenized-stock market as of October 11, 2026.
<h2 id="span-span-strong-what-are-ondo-stocks-strong-span-span">What Are Ondo Stocks?</h2>
Ondo Stocks is Ondo Finance's tokenized equities platform, renamed from Ondo Global Markets on July 13, 2026.
A tokenized stock is a blockchain token that tracks the price of a real share. Each Ondo token is backed by the underlying security, which is held at a U.S.-registered broker-dealer. The token tracks total return, so dividends are reflected in its value. The tokens are issued by Ondo Global Markets (BVI) Limited, a British Virgin Islands company, and are offered to investors outside the U.S.
Tokens carry an "on" suffix, such as AMZNon for Amazon or PLTRon for Palantir. Ondo says buyers get either the stock token or their stablecoins back in one atomic transaction, meaning the trade either fully completes or fully fails.
<h3 id="span-span-strong-where-ondo-stocks-are-used-strong-span-span">Where Ondo Stocks Are Used</h3>
Because Ondo Stocks are standard tokens, other apps can integrate them. Real-world examples include:
<ul>
 <li>MetaMask, which added Ondo tokenized stocks, ETFs and commodities to its self-custody wallet in February 2026</li>
 <li>Chainlink price feeds, which supply prices for Ondo stocks on Ethereum</li>
 <li>Ondo Perps, launched July 7, 2026, which offers perpetual futures with up to 20x leverage and accepts Ondo tokenized stocks as collateral</li>
 <li>Nest Exchange in the Abu Dhabi Global Market, where certain Ondo tokenized securities are admitted to trading</li>
</ul>
<h2 id="span-span-strong-how-do-robinhood-stock-tokens-work-strong-span-span">How Do Robinhood Stock Tokens Work?</h2>
Robinhood launched tokenized U.S. stocks and ETFs for EU users on June 30, 2025, first on Arbitrum. As of October 8, 2026, it runs two separate products.
<h3 id="span-span-strong-classic-stock-tokens-strong-span-span">Classic Stock Tokens</h3>
Classic Stock Tokens cover more than 2,000 names. They are derivative contracts between an EU customer and Robinhood Europe, UAB, offered under the EU's MiFID II rules. Robinhood Europe is authorized by the Bank of Lithuania. A derivative is a contract that tracks an asset's price without giving you the asset itself. These tokens stay inside the Robinhood Europe app and cannot be sent to other wallets.
<h3 id="span-span-strong-stock-tokens-on-robinhood-chain-strong-span-span">Stock Tokens On Robinhood Chain</h3>
Robinhood Chain, a Layer 2 network built on Arbitrum Orbit, went live on mainnet on July 1, 2026. Its newer Stock Tokens:
<ul>
 <li>Cover more than 190 stocks and ETFs</li>
 <li>Are tokenized debt securities issued by Robinhood Assets (Jersey) Limited, not shares</li>
 <li>Are backed 1:1 by shares held with a U.S. custodian</li>
 <li>Are available to eligible users in more than 120 countries, but not U.S. retail investors</li>
 <li>Trade from self-custody wallets through DEXs such as Uniswap, Rialto, Lighter, Arcus and 1inch</li>
</ul>
<h2 id="span-span-strong-what-makes-ondo-stocks-different-from-robinhood-strong-span-span">What Makes Ondo Stocks Different From Robinhood?</h2>
Both companies track U.S. stocks with tokens, but their designs lead to different strengths.
<h3 id="span-span-strong-open-access-across-several-chains-strong-span-span">Open Access Across Several Chains</h3>
Ondo tokenized stocks are permissionless and freely transferable, subject to certain jurisdictional restrictions. They run on Ethereum, Solana and BNB Chain, so they work with the wallets, exchanges and lending apps already on those networks. Robinhood's newer Stock Tokens are issued on one network, Robinhood Chain, and its Classic tokens cannot leave the app at all.
<h3 id="span-span-strong-a-larger-on-chain-catalog-strong-span-span">A Larger On-Chain Catalog</h3>
Ondo lists more than 450 tokenized assets. Robinhood's self-custody Stock Tokens cover more than 190. Robinhood's broader 2,000-plus list is only available as app-bound derivatives.
<h3 id="span-span-strong-stocks-as-collateral-strong-span-span">Stocks As Collateral</h3>
Ondo Perps accepts Ondo tokenized stocks as collateral, so holders can use them for margin instead of selling. Robinhood's Stock Tokens can also be supplied to lending pools on Robinhood Chain, but only on that one network. This is an example of composability, the ability of one onchain product to plug into another.
<h3 id="span-span-strong-a-u-s-regulatory-path-strong-span-span">A U.S. Regulatory Path</h3>
In February 2026, Ondo Global Markets confidentially filed a registration statement with the SEC. Once effective, it would make Ondo the first issuer of transferable tokenized stocks subject to SEC reporting rules. In early July 2026, Ondo also launched tokenized versions of BlackRock's iShares Core S&amp;P 500 ETF (IVV) and Micron (MU) in the U.S. These follow the SEC's third-party custodial model and include shareholder voting through Broadridge.
<h3 id="span-span-strong-where-robinhood-leads-strong-span-span">Where Robinhood Leads</h3>
Robinhood leads on trading activity. It captured 42% of onchain equity trading volume in September 2026, processing $6.57 billion, according to Forkast. Neither company's main offshore product gives standard shareholder rights.
<h2 id="span-span-strong-how-big-is-ondo-in-tokenized-stocks-today-strong-span-span">How Big is Ondo in Tokenized Stocks Today?</h2>
Ondo is the largest tokenized-stock issuer by onchain value, though rankings change depending on the measure used.
<ul>
 <li>Market share: On October 11, 2026, Ondo held $992.3 million of the $3.9 billion tokenized-stock market, ahead of xStocks at $968 million and Binance's bStocks at $920.4 million.</li>
 <li>AUM comparison: Forkast, citing CoinDesk's October 2026 report, put Securitize first in tokenized equity assets under management at $1.62 billion, with Ondo second at $1.00 billion.</li>
 <li>New products: In early October 2026, Ondo launched Ondo Private Markets, offering tokenized notes tied to private companies, starting with AI firms.</li>
</ul>
<h3 id="span-span-strong-what-gives-ondo-an-edge-over-robinhood-strong-span-span">What Gives Ondo An Edge Over Robinhood?</h3>
Beyond its size, several features set Ondo's approach apart from Robinhood's:
<ul>
 <li>Same listings on every chain: When Ondo added 173 stocks and ETFs in June 2026, they went live on Ethereum, Solana and BNB Chain at the same time. This avoids liquidity piling up on one network while users on other chains cannot trade.</li>
 <li>Brokerage-level pricing: Ondo says its tokens are priced to reflect traditional brokerage markets. Ian De Bode, now Ondo's CEO, described the MetaMask integration as bringing "the economics of platforms like Robinhood" into a self-custody wallet.</li>
 <li>Owned U.S. infrastructure: Ondo owns Oasis Pro TA, an SEC-registered transfer agent, which is a firm that keeps the official record of who owns a security. It has also acquired a U.S. broker-dealer to handle compliance directly.</li>
 <li>Links to Wall Street plumbing: The DTCC, the main U.S. clearing and settlement company, brought Ondo into its tokenized securities consortium alongside BlackRock and Goldman Sachs, with production trades starting in July 2026.</li>
 <li>Proven activity: In May 2026, Ondo said its tokenized stock TVL had doubled since January and cumulative trading volume had passed $18 billion. On BNB Chain alone, it reported more than $5 billion in cumulative volume since its October 2025 launch there.</li>
 <li>Wider product range: In September 2026, Ondo launched portfolio tokens built on model strategies developed by BlackRock, and it offered seven of them by early October.</li>
</ul>
<h2 id="span-span-strong-conclusion-strong-span-span">Conclusion</h2>
Ondo Stocks offers more than 450 tokenized assets on Ethereum, Solana and BNB Chain, backed by underlying securities and usable across wallets, exchanges and Ondo Perps. Robinhood offers app-bound derivatives in the EU and self-custody debt-security tokens on its own chain, and it leads in trading volume. Ondo held $992.3 million of the $3.9 billion tokenized-stock market on October 11, and it owns an SEC-registered transfer agent and a U.S. broker-dealer.
<h2 id="span-span-strong-resources-strong-span-span">Resources</h2>
<ol>
 <li><a style="text-decoration:none" href="https://genfinity.io/2026/07/13/ondo-global-markets-becomes-ondo-stocks-tokenized-equities-leader/" rel="noopener noreferrer nofollow">Report by Genfinity</a>: Ondo Global Markets becomes Ondo Stocks</li>
 <li><a style="text-decoration:none" href="https://www.thestreet.com/crypto/markets/ondo-finance-exec-sees-tokenized-stocks-hitting-3b-by-year-end" rel="noopener noreferrer nofollow">Report by TheStreet</a>: Ondo Finance exec sees tokenized stocks hitting $3B by year-end</li>
 <li><a style="text-decoration:none" href="https://www.marketsmedia.com/ondo-global-markets-files-registration-statement-with-sec/" rel="noopener noreferrer nofollow">Report by Markets Media</a>: Ondo Global Markets files registration statement with SEC</li>
 <li><a style="text-decoration:none" href="https://www.coindesk.com/business/2026/07/01/ondo-finance-debuts-sec-aligned-tokenized-stock-model-with-blackrock-etf-micron-shares" rel="noopener noreferrer nofollow">Report by CoinDesk</a>: Ondo debuts SEC-aligned tokenized stock model</li>
 <li><a style="text-decoration:none" href="https://metamask.io/news/metamask-adds-tokenized-us-stocks-etfs-and-commodities-via-ondo-global" rel="noopener noreferrer nofollow">MetaMask News</a>: MetaMask adds tokenized US stocks via Ondo Global Markets</li>
 <li><a style="text-decoration:none" href="https://www.tokenpost.com/news/investing/29903" rel="noopener noreferrer nofollow">Report by TokenPost</a>: Tokenized-stock market reaches $3.9 billion</li>
 <li><a style="text-decoration:none" href="https://www.tokenpost.com/news/investing/29088" rel="noopener noreferrer nofollow">Report by TokenPost</a>: Tokenized stocks reach $2.92 billion as three platforms hold 64%</li>
 <li><a style="text-decoration:none" href="https://forkast.news/tokenized-equity-trading-just-hit-15-6b-and-the-regulatory-framework-is-still-being-built/" rel="noopener noreferrer nofollow">Report by Forkast</a>: Tokenized equity trading just hit $15.6B</li>
 <li><a style="text-decoration:none" href="https://eco.com/support/en/articles/15083160-robinhood-tokenized-stocks-what-s-live-and-how-it-works" rel="noopener noreferrer nofollow">Report by Eco</a>: Robinhood tokenized stocks, what's live and how it works</li>
 <li><a style="text-decoration:none" href="https://www.techtimes.com/articles/319564/20260702/robinhood-chain-goes-live-tokenized-stocks-key-ownership-caveat.htm" rel="noopener noreferrer nofollow">Report by Tech Times</a>: Robinhood Chain goes live with a key ownership caveat</li>
 <li><a style="text-decoration:none" href="https://cfotech.co.uk/story/robinhood-launches-chain-stock-tokens-in-120-countries" rel="noopener noreferrer nofollow">Report by CFOtech</a>: Robinhood launches chain and stock tokens in 120 countries</li>
 <li><a style="text-decoration:none" href="https://www.datawallet.com/crypto/robinhood-chain-explained" rel="noopener noreferrer nofollow">Report by Datawallet</a>: Robinhood Chain explained</li>
 <li><a style="text-decoration:none" href="https://robinhood.com/newsroom/robinhood-launches-stock-tokens-reveals-layer-2-blockchain-and-expands-crypto-suite-in-eu-and-us-with-perpetual-futures-and-staking/" rel="noopener noreferrer nofollow">Robinhood Newsroom</a>: Robinhood launches stock tokens</li>
 <li><a style="text-decoration:none" href="https://metamask.io/price/ondo-finance" rel="noopener noreferrer nofollow">MetaMask ONDO page</a>: Ondo Private Markets and portfolio token updates</li>
 <li><a style="text-decoration:none" href="https://www.financemagnates.com/institutional-forex/ondo-launches-sec-aligned-tokenized-us-securities-with-shareholder-voting-rights/" rel="noopener noreferrer nofollow">Report by Finance Magnates</a>: Ondo launches SEC-aligned tokenized U.S. securities with shareholder voting rights</li>
 <li><a style="text-decoration:none" href="https://coinpaprika.com/education/tokenized-stocks-liquidity-on-chain/" rel="noopener noreferrer nofollow">Report by CoinPaprika</a>: How liquid are tokenized stocks?</li>
 <li><a style="text-decoration:none" href="https://thedefiant.io/converge/defi/ondo-finance-adds-173-tokenized-stocks-etfs-430-assets-three-chains" rel="noopener noreferrer nofollow">Report by The Defiant</a>: Ondo Finance adds 173 tokenized stocks and ETFs across three chains</li>
 <li><a style="text-decoration:none" href="https://finance.yahoo.com/markets/crypto/articles/ondo-global-markets-tops-1b-103215556.html" rel="noopener noreferrer nofollow">Report by CCN via Yahoo Finance</a>: Ondo Global Markets tops $1B TVL</li>
 <li><a style="text-decoration:none" href="https://x.com/OndoFinance/status/2062240116047782295" rel="noopener noreferrer nofollow">Ondo Finance on X</a>: Ondo Global Markets growth on BNB Chain</li>
</ol>

What Makes Ondo Stocks Different From Other Tokenized Stocks?

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