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Tokenization Platform Ondo Finance Sets Sights On APAC

The US-based company is opening its first office in the region, in Hong Kong, and has appointed a new VP of business development.

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Ondo Finance, a pioneering name in onchain finance, has announced its strategic expansion into the Asia Pacific region, marking a significant step in its quest to democratize access to US-based assets through tokenization.

This move reflects the US-based company's response to the burgeoning interest in digital assets across Asia, spurred by factors like a thriving crypto community, evolving regulatory landscapes, and increasing interest in exposure to US assets, Ondo said in an announcement on Monday.

“We’re very excited about our expansion into APAC,” said Nathan Allman, founder and CEO of Ondo. “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.”

Founded in 2021 with its roots in the Goldman Sachs Digital Assets team and backed by leading VCs like Founders Fund, Pantera Capital, and Coinbase Ventures, Ondo said it owns nearly 40% of the global market share in tokenized securities.

Ondo currently offers three tokenized products for investors to gain exposure to key US-based asset classes: OUSG, providing exposure to US Treasuries; OMMF, providing exposure to US money market funds; and Ondo US Dollar Yield Token (USDY), providing a yield-bearing alternative to conventional stablecoins.

This expansion follows a series of major developments for Ondo, including the announcement of its strategic roadmap and partnerships within the Ondo ecosystem. Notably, Mantle and Solana have partnered with Ondo to integrate USDY into their chains, and the Ondo Foundation has introduced a points program and proposed unlocking its ONDO token.

Ondo also announced the appointment of Ashwin Khosa as vice president of business development in the region. With nearly 10 years of Hong Kong-based institutional business development experience at Citi, Tether and Bitfinex, Khosa brings to Ondo both substantial understanding of onchain finance and deep knowledge of the Asia Pacific market.