Ondo Finance Announces Expansion into APAC

Ondo Finance Announces Expansion into APAC

This announcement aligns with Ondo’s recent series of major updates, including the unveiling of its strategic roadmap.

Godfrey Benjamin By Godfrey Benjamin Julia Sakovich Edited by Julia Sakovich Updated 3 mins read
Ondo Finance Announces Expansion into APAC
Photo: Depositphotos

Ondo Finance, a key player in the on-chain finance space, has announced its expansion in the Asia Pacific (APAC), with the opening of its first office in the region. Known for its leading position in providing tokenized securities, the company is making strategic moves to tap into the growing interest in digital assets in the APAC region.

Ondo Finance’s APAC Expansion

With nearly 40% of the global market share in tokenized securities, Ondo’s expansion into APAC is strategically timed. The region’s vast wealth and diverse investor base create a ripe environment for Ondo’s offerings. The company, however, did not disclose the specific location of its APAC office in the official statement.

Nathan Allman, the founder and CEO of Ondo, shared his excitement about the expansion, stating, “We’re very excited about our expansion into APAC. There is an active and rapidly growing crypto community and an appreciation for the type of high-quality exposure to US assets that our tokens provide.”

To spearhead this expansion, Ondo has announced the appointment of Mr. Ashwin Khosa as Vice President of Business Development. Mr. Khosa, with a decade of institutional business development experience in Hong Kong with institutions like Citi, Tether, and Bitfinex, brings a wealth of knowledge in onchain finance to the APAC market.

As of now, Ondo Finance has three tokenized products: OUSG, offering exposure to US Treasuries; OMMF, providing exposure to US money market funds; and USDY, serving as a yield-bearing alternative to conventional stablecoins. These products collectively allow investors worldwide to gain exposure to key US-based asset classes in a tokenized format.

Ondo Finance’s Ecosystem Development

This announcement aligns with Ondo’s recent series of major updates, including the unveiling of its strategic roadmap. The roadmap outlines the company’s perspective on the current state of the industry and its high-level plans for the next 24 months.

Additionally, Ondo Finance has been making waves in collaboration with other entities within the crypto ecosystem. Notable partnerships include those with Mantle and Solana, aiming to bring the USDY token to their respective blockchain networks. The Ondo Foundation has also introduced a points program and proposed the unlocking of its ONDO token.

Moreover, Ondo Finance has expanded its offerings to include tokenized United States treasuries and bonds. These assets are tailored for investors holding over $100 billion of non-yield-bearing stablecoins.

The move by Ondo Finance mirrors a broader trend in the crypto industry, where companies are increasingly recognizing the importance of establishing a presence in the APAC region. Maple Finance, a blockchain-based credit marketplace, secured a $5 million strategic funding to expand its business offerings in the APAC region.

Similarly, CME Group’s partnership with CF Benchmarks to launch Bitcoin and Ethereum reference rates underlines the growing importance of crypto in the APAC region, where countries like Japan, South Korea, and Singapore lead in adoption and innovation.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

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