Ondo Finance has launched the Global Markets Alliance, a coalition of nine major crypto players, including the Solana Foundation, Trust Wallet, Bitget Wallet, BitGo, Fireblocks, Jupiter Exchange, 1inch, and Alpaca. This alliance aims to establish shared standards to support tokenization of real-world assets and enhance interoperability across platforms, allowing users outside the U.S. to access traditional financial products like U.S. stocks and mutual funds through crypto wallets.
The alliance combines the strengths of custodial services, security technologies, liquidity aggregators, and brokerage infrastructure. For instance, BitGo provides institutional custody connected to off-exchange settlement, while Fireblocks contributes MPC-based security. Wallets like Trust Wallet and Bitget Wallet will enable self-custody and on-chain access, facilitating easier retail participation.
Ondo Finance recently debuted a significant token called OUSG on the XRP Ledger representing short-term U.S. Treasuries, with initial capital of $30 million that has now expanded to a $693 million supply. This tokenization effort leverages Ripple’s RLUSD stablecoin for smooth minting and redemption. The total market volume for tokenized treasuries has reached $7.2 billion, signaling strong demand for digital finance alternatives.
Additionally, Ondo partnered with Mastercard’s Multi-Token Network to improve liquidity and payment flows for digital investment securities. Despite a rapid 10% drop in the ONDO token price shortly after the announcement, the platform’s total value locked is nearly $1.4 billion, more than doubling over the past year, pointing to promising long-term growth prospects.
Overall, the alliance represents a major step toward bridging traditional financial markets and the crypto ecosystem, aiming for broader financial inclusion by making global capital markets accessible through simple wallet interactions.