Ondo

Most investors never think about what happens after they click “buy.”&nbsp;
A trade still has to be recorded, settled and safeguarded, and much of that work in U.S. markets runs through the Depository Trust &amp; Clearing Corporation, or DTCC.&nbsp;
DTCC is the post-trade backbone of the financial system, meaning it handles the steps after a trade is placed.
That system is now opening up to blockchain tokens, and <a href="https://www.thestreet.com/crypto/tag/ondo-finance" rel="noopener noreferrer nofollow">Ondo Finance</a> is part of the rollout.
<a href="https://www.thestreet.com/crypto/markets/ondo-becomes-the-first-tokenization-company-on-dtccs-fund-serv" rel="noopener noreferrer nofollow">Related: Ondo becomes the first tokenization company on DTCC's Fund/SERV</a>
The Depository Trust Company (DTC), a DTCC subsidiary, has <a href="https://ondo.finance/blog/dtcc-tokenization-service-is-live" rel="noopener noreferrer nofollow">launched</a> the DTCC Tokenization Service, or DTS.&nbsp;
The service links tokenized securities, meaning digital versions of traditional assets recorded on a blockchain, to DTC’s existing market infrastructure.
Ondo, which issues tokenized versions of stocks and <a href="https://www.thestreet.com/crypto/tag/treasury" rel="noopener noreferrer nofollow">Treasuries</a>, is one of the service’s ecosystem collaborators. Broadridge, DRW and Fireblocks are among the others.
<h2 id="same-rights-new-format">Same rights, new format</h2>
Through DTS, DTC’s participants can switch eligible securities between their traditional form and a tokenized one.&nbsp;
DTC’s participants are the banks and brokers that hold accounts with it.
According to Ondo, the tokenized versions keep the same ownership rights and protections as their traditional counterparts.&nbsp;
For investors, that addresses one of tokenization’s biggest open questions: whether a token really carries the legal weight of the asset behind it.
<h3 id="popular-on-thestreet-roundtable">Popular on TheStreet Roundtable:</h3>
<ul>
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 <li><a href="https://www.thestreet.com/crypto/investing/cathie-wood-sells-bitcoin-buys-5-2-million-of-sinking-stock" rel="noopener noreferrer nofollow">Cathie Wood sells Bitcoin, buys $5.2 million of sinking stock</a></li>
 <li><a href="https://www.thestreet.com/crypto/markets/coinbase-ceo-says-golds-supply-can-change-bitcoins-cant" rel="noopener noreferrer nofollow">Coinbase CEO says gold's supply can change, Bitcoin's can't</a></li>
</ul>
<h2 id="ondo-s-months-of-groundwork">Ondo’s months of groundwork</h2>
Ondo’s part in the launch has been building since spring.&nbsp;
In May, the company joined DTC’s Digital Assets Solutions Industry Working Group, which gave feedback on the service as it was being developed.
In July, Ondo <a href="https://ondo.finance/blog/ondo-and-dtcc-collaborate-on-tokenized-stocks" rel="noopener noreferrer nofollow">announced two tokens backed by DTC tokenized entitlements</a>: CRCLon, tied to <a href="https://www.thestreet.com/crypto/tag/circle-stock" rel="noopener noreferrer nofollow">Circle stock</a>, and SPYon, tied to the SPDR S&amp;P 500 ETF.&nbsp;
They were the first <a href="https://www.thestreet.com/crypto/tag/tokenized-stocks" rel="noopener noreferrer nofollow">Ondo Stocks</a> to use that structure. The entitlements serve as digital twins of the securities underlying each token.
Ondo <a href="https://ondo.finance/blog/ondo-joins-dtcc-fund-serv" rel="noopener noreferrer nofollow">was also the first tokenization company</a> to join DTCC’s Fund/SERV, a system that handles most U.S. mutual fund transactions.
Ondo says it plans to keep working with DTCC. Having a seat at the table this early puts the company close to the center of how Wall Street’s existing plumbing adapts to tokens.
<h2 id="the-roundtable-100">The Roundtable 100</h2>
If you follow our market coverage, don’t miss the <a href="https://roundtable100.com/tab/rankings" rel="noopener noreferrer nofollow">Roundtable 100</a>. Updated every Friday, it's a power ranking of the 100 most investable tech stocks, including digital assets. Check out the latest <a href="https://roundtable100.com/" rel="noopener noreferrer nofollow">RTB 100</a> rankings at <a rel="noopener noreferrer nofollow">roundtable100.com</a>
<a href="https://www.thestreet.com/crypto/markets/ondo-hits-20-million-milestone-with-tokenized-portfolios" rel="noopener noreferrer nofollow">Related: Ondo’s tokenized portfolios hit $20 million in first month</a>

Ondo joins DTCC’s push to bring tokenized stocks into the mainstream

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