Ondo Enters Australian Market with Openmarkets Tokenization MOU
Ondo Finance has announced an agreement to expand its tokenized strategy into Australia through a memorandum of understanding (MOU) with Openmarkets Group. This partnership will explore tokenizing Australian-listed securities and distributing Ondo's Stocks to eligible investors.
The agreement also examines access to tokenized U.S. Treasury products, but any resulting offering remains subject to regulatory analysis and approvals. Australia is developing infrastructure for institutional tokenized markets, with the Reserve Bank of Australia supporting a tokenized-market program.
Ondo already has a tokenized-securities platform, which surpassed $1 billion in value locked in May, with over 260 tokenized U.S. stocks and ETFs across Ethereum, Solana, and BNB Chain. The expansion follows Ondo's Asia-Pacific strategy, including a partnership with Japan's SBI Group announced in July.
The company will need to navigate regulatory requirements in Australia, where ASIC guidance says tokenized assets can fall within financial-product rules depending on their rights and structure. Any tokenization platform product offered locally will require licensing and investor protections.