SK Hynix simply pulled off the most important US debut by a overseas firm in historical past, elevating $26.5 billion on Nasdaq. Earlier than the confetti even settled, its shares have been already residing on three blockchains.
Ondo International Markets listed tokenized SK Hynix shares, buying and selling below the ticker SKHYon, on July 10, the identical day the South Korean reminiscence chipmaker started buying and selling on Nasdaq at $149 per American Depositary Share. The tokens are transferable throughout Solana, Ethereum, and BNB Chain courtesy of LayerZero’s cross-chain infrastructure.
The largest overseas IPO meets same-day tokenization
SK Hynix offered 177.9 million ADSs in its US itemizing, making it the only largest first-day providing by any non-American firm on US exchanges.
By way of its “Ondo International Itemizing” service, which launched on February 3, 2026, the protocol has been positioning itself to tokenize NYSE and Nasdaq IPOs on their precise debut day. SK Hynix is the highest-profile take a look at of that functionality to this point.
Since launching in September 2025, Ondo International Markets has expanded its tokenized inventory catalog to over 430 property. The platform surpassed $500 million in complete worth locked by early 2026.
Why SK Hynix issues past the ticker
SK Hynix is the world’s main producer of high-bandwidth reminiscence, the specialised chips that energy Nvidia’s AI GPUs and the info facilities behind each main language mannequin. Each time a hyperscaler like Microsoft, Google, or Amazon orders one other rack of Nvidia H100s or B200s, SK Hynix will get paid. That positioning is what drove demand for 177.9 million shares at $149 a pop.
What this implies for tokenized equities and buyers
Ondo’s method of tokenizing IPOs on day one ties tokenized equities to headline-grabbing occasions somewhat than obscure secondary choices. By deploying SKHYon throughout Solana, Ethereum, and BNB Chain concurrently utilizing LayerZero, Ondo is betting that interoperability eliminates the fragmentation downside that has plagued earlier tokenized asset experiments.
TVL of $500 million throughout your complete platform means the typical asset has simply over $1 million in locked worth throughout 430-plus tokenized property. Ondo went from launch to $500 million TVL in roughly six months.
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