Ondo is expanding into Australian Markets
Ondo Finance has signed a Memorandum of Understanding with Australian financial services provider OpenMarkets Group to explore distributing tokenized financial products, including Australian-listed securities and U.S. Treasury products, in the Asia Pacific region.
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Ondo and OpenMarkets Target Australia's Capital Markets
@Ondo Finance has signed a Memorandum of Understanding (MOU) with Australian financial services provider OpenMarkets Group, marking the firm's formal entry into one of Asia Pacific's most established capital markets. The two firms will explore bringing Ondo's tokenized financial products to Australian investors.
Initial work will focus on possible distribution by OpenMarkets of selected Ondo products, subject to regulatory requirements and approvals, and on product development that could include tokenized Australian-listed securities and access to offshore tokenized markets.
OpenMarkets is a participant on ASX, Cboe and NSX and holds an Australian Financial Services Licence. The group is also registered on AUSTRAC's Virtual Asset Service Provider Register, positions it says provide a base for a move into tokenized products.
A Gateway to the Global On-Chain Economy
Min Lin, Managing Director of Global Business Development at Ondo Finance, described Australia as a natural next step in the firm's global expansion, adding that OpenMarkets brings deep local market expertise and established financial infrastructure. Together, the companies aim to connect one of the Asia Pacific region's most sophisticated capital markets with the global on-chain economy.
Dan Jowett, CEO of OpenMarkets, said the combination of Ondo's technology platform and OpenMarkets' local market expertise could lead to compelling tokenized products aimed at local investors.
The deal reflects growing institutional appetite for tokenized real-world assets globally. Forecasts cited by OpenMarkets suggest the global market for tokenized assets could reach USD $16 trillion by 2030. Ondo describes itself as a blockchain technology company focused on tokenizing real-world assets and putting financial products on-chain.
The Australia partnership extends Ondo's international footprint beyond the United States. The arrangement also extends OpenMarkets' push into digital assets across its brokerage, clearing, settlement and wealth management businesses.
Sources:
Openmarkets and Ondo Finance sign MOU to advance tokenised finance in Australia – Australian FinTech
Openmarkets and Ondo eye tokenised finance in Australia – CFO Tech
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UC HopeUC holds a bachelor’s degree in Physics and has been a crypto researcher since 2020. UC was a professional writer before entering the cryptocurrency industry, but was drawn to blockchain technology by its high potential. UC has written for the likes of Cryptopolitan, as well as BSCN. He has a wide area of expertise, covering centralized and decentralized finance, as well as altcoins.