Ondo Global Markets tokenized stock TVL illustration

Ondo Global Markets Hits $1 Billion in Tokenized Stock TVL in Under Eight Months

By Isaac • May 12, 2026 8:06 pm • Comments

Ondo Finance announced on May 11 that Ondo Global Markets has surpassed $1 billion in total value locked, a milestone the company says makes it the first tokenized U.S. stock and ETF platform to reach that level. TVL doubled since January 2026, and the full climb from zero happened in under eight months.

The platform currently offers more than 260 tokenized U.S. stocks and ETFs live across Solana, Ethereum, and BNB Chain. Ondo says it holds over 70% market share in the tokenized equities category and has processed $18 billion in cumulative trading volume.

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Each token on the platform is backed by the underlying security held in a U.S.-registered broker-dealer and tracks total return, including dividends. Trading is available 24 hours a day, five days a week. The service is restricted to non-U.S. persons and excludes certain other jurisdictions, so this is a global product built on crypto rails, aimed squarely at international demand for U.S. equity exposure.

Here is more from Ondo Finance’s announcement:

Ondo Finance’s announcement said Ondo Global Markets passed $1 billion in TVL, calling it a first for any tokenized U.S. stock and ETF platform. The company says the milestone came less than eight months after launch, with TVL doubling since January 2026 and growth outpacing stablecoins over that stretch. Ondo says Global Markets has more than 70% market share, $18 billion in cumulative trading volume, and more than 260 tokenized U.S. stocks and ETFs across Solana, Ethereum, and BNB Chain. The release says the platform is accessible through leading wallets, exchanges, custodians, and protocols, while each token is backed by the underlying security held in a U.S.-registered broker-dealer and tracks total return including dividends. Trading runs 24 hours a day, five days a week. The service is not available to U.S. persons or certain other restricted jurisdictions.

The speed of this ramp matters for the broader RWA thesis. Tokenized Treasuries got most of the attention in 2024 and early 2025, but tokenized equities have quietly turned into a real distribution race. Wallets, exchanges, and broker-dealer structures are all competing to be the pipes that carry these tokens to end users. Ondo reaching $1 billion in TVL with 260-plus tickers across three major chains shows the infrastructure is scaling fast enough to absorb serious capital.

Ondo has also been building on the settlement side. Earlier this month, the company completed a pilot transaction with Kinexys by J.P. Morgan, Mastercard, and Ripple that connected the XRP Ledger with interbank settlement rails for tokenized U.S. Treasuries.

That pilot settled across borders, banks, and time zones outside traditional banking windows. It is a separate effort from the Global Markets equity platform, but the two projects share a common ambition: making tokenized financial products settle and trade on crypto timelines rather than Wall Street ones.

Tokenized equities are past the whitepaper stage. A billion dollars in TVL, $18 billion in cumulative volume, and broker-dealer backing across three chains is a real business. The next question is how many competing platforms try to match it, and how fast regulators in key jurisdictions respond to demand that clearly already exists.

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