NEAR Partners with Ondo for Confidential On-Chain Trading
Near Protocol (NEAR) has announced a partnership with Ondo (ONDO) to bring tokenized US stocks and ETFs into one confidential account. This move reflects NEAR's focus on privacy as US regulators make room for on-chain trading and purpose-built crypto market infrastructure.
The partnership uses NEAR Protocol's cross-chain transaction protocol, NEAR Intents, which enables users to purchase tokenized Real-World Assets (RWAs) offered by Ondo using crypto from 30 different networks without linking their identities to their positions. This integration maintains privacy by using 'Confidential Intents', providing bank-level security.
Ondo provides access to hard assets such as tokenized US equities, legal structure, compliance rails, broker-dealer infrastructure, and connections to traditional market liquidity. The partnership includes tokenized US stocks like NVIDIA (NVDAon), Tesla (TSLAon), Apple (AAPLon), Alphabet (GOOGLon), Meta (METAon), Microsoft (MSFTon), Amazon (AMZNon) and tokenized Exchange Traded Funds (ETFs) like SPDR S&P 500 (SPYon), Invesco QQQ ETF (QQQon) and more.
Ondo has emerged as the leading provider of tokenized Treasuries, stocks, and ETFs by total value, with $3.66 billion in distributed asset value across its platforms. The on-chain RWA market stands at $46.30 billion, excluding stablecoins, led by the US T-bills worth $13.90 billion.