Ondo's Tokenized Assets Spread Across Blockchain Networks
Ondo, a platform for tokenized assets, is expanding its presence on multiple blockchain networks. The platform's $3.89 billion asset base, which was initially concentrated on Ethereum, is now being distributed across various chains.
According to the data, Solana is leading the way, with tokenized assets growing by 60.32% over the past 30 days to reach $456.7 million. BNB Chain has also seen significant growth, increasing by 19.15% to $429.7 million.
This diversification of tokenized assets is likely to increase the number of ways Ondo can distribute its product offerings to users. With 521,028 token holders transferring $2.38 billion per month, it's clear that adoption is growing rapidly.
On-chain credit markets are also seeing increased activity, with Solana at the forefront of tokenized equities being used as collateral. For example, over $20.7 million worth of tokenized stock is being utilized as collateral via Kamino, while Ethereum has $5.8 million in tokenized stocks serving as lending collateral through Euler and Morpho.