Tokenised equities
Ondo Finance, fintech, on Ethereum since September 2025.
Launched 2025-09-03 on Ethereum with 100+ tokenised US stocks and ETFs, for non-US investors only; later expanded to BNB Chain and Solana. The largest tokenised-equity platform by AUM in this dataset. Figure from rwa.xyz; the launch and chain are evidenced by Ondo's own release.
In the record
11
months from first observation to the record's assessment of August 2026
13
fintech rows in the record, this one included
45
rows filed to Ethereum by their sources
What it bears on
R3Do we know what this instrument is, legally, in every venue we operate?
needs design
ETH is a digital commodity in the United States and stablecoin law is in force. Market-structure legislation stalled, and jurisdictions are diverging.
R5Which network do we settle on, and how do we get out?
needs design
More than a hundred networks and no neutral selection framework. Our own record shows institutional issuance concentrated on mainnet, with layer twos carrying stablecoin float rather than funds.