Ondo

U.S.-based crypto startup Ondo Finance, a financial infrastructure firm that concerns itself with the tokenization of real-world assets (RWAs), has officially revealed its intention to expand into the Asia Pacific (APAC) area, with the inauguration of its first office in the region.In a <a href="https://www.businesswire.com/news/home/20240121891796/en/Ondo-Finance-Expands-Focus-to-Asia-Pacific-Making-it-Easier-to-Invest-In-US-Based-Assets" rel="noopener noreferrer nofollow">press release</a> published by the company on Sunday, Ondo clarified that the expansion is a direct response to the escalating interest in digital assets throughout Asia. That interest the company attributes to factors such as a flourishing crypto community, shifting regulatory environments and a growing appetite for exposure to U.S. assets.<h2 id="header-0">40% market share</h2>At present, Ondo Finance holds a 40% share of the global market where tokenized RWAs are concerned. That market share has been driven by its three main tokenized product offerings: OUSG, designed for exposure to U.S. Treasuries; OMMF, facilitating exposure to U.S. money market funds; and USDY, positioned as a yield-bearing alternative to traditional stablecoins. These products serve as a conduit for global investors to access U.S.-based asset classes in tokenized form, aligning with the rising trend of digital asset adoption.To spearhead its APAC expansion initiative, Ondo Finance has appointed Ashwin Khosa as the vice president of business development in the region. Khosa brings nearly a decade of experience in Hong Kong-based institutional business development, having worked with multinational financial services company Citi, alongside key crypto firms such as Tether and its sister company, Bitfinex. His expertise encompasses both on-chain finance and a profound understanding of the APAC market. Khosa stated:“The team is top-notch and the mission of bringing real world assets onchain is extremely important. I look forward to working closely with partners in the region to help investors gain access to this next generation of high-quality assets.”Founded in 2021 with roots tied to the Goldman Sachs Digital Assets team and supported by leading venture capitalists including Founders Fund, Pantera Capital and Coinbase Ventures, Ondo Finance is looking to solidify its position as a dominant force in this newly emerging market on the back of nearly 40% of the global market share in tokenized securities.Nathan Allman, the founder and CEO of Ondo, expressed his excitement about the expansion, stating:“We’re very excited about our expansion into APAC. There is an active and rapidly growing crypto community and an appreciation for the type of high-quality exposure to US assets that our tokens provide.”<h2 id="header-1">Suspected token dump</h2>In a related <a href="https://x.com/ai_9684xtpa/status/1749276675895128370?s&#61;20" rel="noopener noreferrer nofollow">development</a> on Monday, on-chain sleuths have presented data that may indicate a sell-off of $11 million worth of ONDO tokens, the project’s native token. 20 million tokens were sold, with the suggestion that the token unit price fell in tandem with that market activity. Earlier on Monday, the token traded at $0.3062. At the time of writing, it’s trading at $0.25.This expansion into the APAC region follows a string of pivotal developments for Ondo, including the revelation of its strategic roadmap and partnerships within the Ondo ecosystem. Additionally, the Ondo Foundation has introduced a <a href="https://t.co/woBAafkTNI" rel="noopener noreferrer nofollow">points program</a> and a proposed <a href="https://blockchain.news/news/ondo-foundation-unveils-ondo-points-and-token-unlock-plan" rel="noopener noreferrer nofollow">unlocking</a> of its ONDO token, marking an integral part of the company’s ongoing growth and development.

Ondo Finance announces APAC expansion

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CoinNess Global

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