Ondo Finance Expands Tokenized Securities to BNB Chain
Ondo Finance (ONDO) rose 2% on Wednesday. The company announced it will expand its tokenized securities platform, Ondo Global Markets, to the BNB Chain.
Ondo Global Markets first launched on Ethereum in September. It offers investors outside the US 24/7 access to over 100 US stocks and ETFs onchain. Since launch, the platform has secured $350 million in total value locked (TVL) and $669 million in total onchain volume.
Sarah Song, BNB Chain’s head of business development, said, “Real-world assets are one of the fastest-growing segments on BNB Chain. Ondo Finance joining our ecosystem shows strong momentum.”
Users can access tokenized securities via Pancakeswap. Ondo plans to add support for wallets, DeFi protocols, and other platforms in the BNB ecosystem.
Nathan Allman, Ondo Finance CEO, said, “Expanding to BNB Chain lets us bring tokenized US stocks and ETFs to millions of users in Asia, Latin America, and beyond. This environment is fast, cost-efficient, and highly interoperable.”
Ondo Finance is backed by Peter Thiel’s Founders Fund. It holds $1.78 billion in TVL, mainly in tokenized treasuries. In 2023, Ondo acquired US broker-dealer Oasis Pro and blockchain developer Strangelove. It also launched its own Layer 1 platform, Ondo Chain, in February.
ONDO Price Shows Support at $0.72, Faces Resistance
ONDO price bounced off support at $0.72 on Wednesday. It now faces resistance at $0.82 and a descending trendline from September 12.
The token trades below its 50-day, 100-day, and 200-day exponential moving averages (EMAs). This suggests a bearish trend. However, moving above these EMAs could lead to a bullish move toward $1.
The Relative Strength Index (RSI) is below neutral but rising. The Stochastic Oscillator has crossed its midline. Both signals show weakening bearish momentum.
