Ondo Finance partners with Openmarkets Group to explore tokenized assets in Australia
Ondo Finance has signed a memorandum of understanding (MOU) with Australian financial services provider Openmarkets Group, aiming to bring its tokenized products to eligible investors in the country. The collaboration will assess pathways for distributing Ondo's existing offerings such as USDY and Ondo Stocks, which provide exposure to U.S.-listed equities backed by real-world assets like Treasuries. Australia recently passed regulatory legislation requiring digital asset platforms to hold an Australian Financial Services Licence (AFSL), a requirement that Openmarkets already meets. This positions the company well for distributing tokenized products without needing new approvals, supporting Ondo's expansion into Asia-Pacific markets. The partnership aligns with projections of a $22 trillion global market opportunity in tokenized assets by 2030. Ondo currently manages over $3.5 billion in total value locked and has institutional partnerships including BlackRock and J.P. Morgan’s Kinexys, further strengthening its position as it explores new markets like Australia.
Topics: Australian market expansion digital asset distribution regulatory compliance tokenized assets