Ondo World Markets simply crossed $1 billion in whole worth locked, reaching the milestone in beneath eight months since its September 2025 launch. The platform now holds greater than 70% of the tokenized equity issuer market and has processed over $18 billion in cumulative buying and selling quantity.
Your complete tokenized inventory and equities area has over $1.5 billion in TVL throughout all platforms. Ondo owns the overwhelming majority of it.
Katie Wheeler, Managing Director, World Partnerships, Ondo Finance, sat down with TheStreet Roundtable in Miami. Wheeler spent a decade on Wall Avenue in mounted earnings — she was VP of U.S. iShares Institutional Mounted Revenue at BlackRock and Director of Enterprise Improvement in Web3 at Circle earlier than becoming a member of Ondo. She stated the platform is simply getting began.
“We’re simply scratching the floor,” she stated.
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What Ondo World Markets really does
Ondo GM is a tokenization platform for U.S. equities. It permits traders around the globe to purchase and commerce tokenized variations of publicly listed American stocks and ETFs on blockchain rails. The platform presently presents over 260 tokenized U.S. stocks and ETFs throughout Solana, Ethereum, and BNB Chain.
“We are able to tokenize something that is publicly listed in america. So if one thing trades on Nasdaq, New York Inventory Alternate, we’re capable of principally tokenize it and have it on a blockchain rail.”
The platform can also be increasing with extra asset sorts, new utility options, and new geographic markets in the pipeline. Ondo has already secured regulatory approval to supply tokenized stocks and ETFs throughout 30 European international locations in the EU and EEA, opening entry to greater than 500 million traders.
Related: Ondo Finance exec sees tokenized stocks hitting $3B by year-end
A $5 billion prediction
Regardless of not being accessible to U.S. traders, the platform has exploded. It went from zero to $1 billion in TVL in beneath eight months — and Wheeler thinks the expansion is simply starting.
“I would not be shocked if we surpassed $5 billion by the tip of the yr. I do know that appears somewhat advantageous, however now we have quite a lot of curiosity and we’re actually increase fairly a pipeline.”
That will characterize a 5x enhance from the present milestone in lower than eight months. It is an aggressive goal, however the trajectory to date makes it onerous to dismiss. The platform’s TVL has doubled since January 2026 alone.
Wheeler believes the expansion is sustainable as a result of the numbers, whereas spectacular, characterize a fraction of the liquidity that exists in conventional public markets.
“We are actually simply scratching the floor. This can be a very massive trade. So even when we did 1%, I feel that will be super.”
Regulatory readability in the U.S. is predicted to speed up issues additional. The Clarity Act — the market construction invoice that will create clear regulatory lanes for digital belongings — cleared its Senate Banking Committee markup on Could 14. If it passes into legislation this yr, it might give the crypto trade a proper framework for a way tokenized merchandise function in america.
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Placing the market measurement in context
Wheeler drew a comparability to stablecoins — arguably probably the most confirmed product-market match in all of crypto — as an example how early tokenized equities nonetheless are.
“There’s about $300 billion in stablecoins proper now. That is like 1% of M2 cash provide. So stablecoins, which I feel is arguably the factor that has the very best product market match throughout crypto, continues to be younger. So then you concentrate on $1 billion of tokenized treasuries, it is huge.”
The stablecoin market presently sits at roughly $323 billion. If probably the most mature crypto product class continues to be at roughly 1% penetration of the standard promote it mirrors, tokenized equities — at $1.5 billion whole throughout your complete area — are barely a rounding error towards world fairness markets price over $100 trillion.
That leaves two questions for anybody watching this area. First: if probably the most confirmed crypto product continues to be at 1% penetration, how lengthy earlier than tokenized equities strategy something resembling a ceiling? And second: if tokenized stocks finally pull even 1% of world fairness market liquidity onto blockchain rails, what does that imply for the platforms that bought there first?
This story was initially revealed by TheStreet on Could 14, 2026, the place it first appeared in the MARKETS part. Add TheStreet as a Preferred Source by clicking here.
