Ondo Finance Becomes the Largest Tokenized Treasury and Equity Provider, with Total Value Locked (TVL) Exceeding $2.5 Billion
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Ondo Finance Becomes the Largest Tokenized Treasury and Equity Provider, with Total Value Locked (TVL) Exceeding $2.5 Billion
Consolidated its position as the largest tokenized U.S. Treasury and tokenized stock platform.
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- Ondo currently ranks #1 in total value locked (TVL), number of asset holders, and partner integrations in the tokenized U.S. Treasury market.
- Ondo’s tokenized equities TVL has surpassed $500 million—exceeding the combined TVL of all other platforms—and its cumulative trading volume has exceeded $7 billion in under six months since its launch in September 2025.
- Ondo’s products are the most widely held across all categories, with tens of thousands of users and the highest number of DeFi integrations.
- Growth has been accelerated by rising adoption across platforms and blockchains including Bitget, Binance Wallet, Solana, Ethereum, and BNB Chain.
Ondo Finance, the leading tokenized real-world assets (RWA) platform, today announced that its tokenized products have surpassed $2.5 billion in total value locked (TVL), according to data from RWA.xyz and DefiLlama—solidifying its position as the largest tokenized U.S. Treasury and tokenized equities platform.
Market Leader in Tokenized U.S. Treasuries
Ondo leads the tokenized U.S. Treasury market with approximately $2 billion in TVL—the highest among all tokenized asset providers for both of its flagship products. This growth is primarily driven by USDY, Ondo’s permissionless tokenized Treasury product, which has surpassed $1 billion in TVL. USDY is now issued across nine blockchains, enabling global (non-U.S.) individuals and institutions to access a yield-bearing stablecoin-like experience.
Meanwhile, Ondo’s flagship institutional fund, OUSG, has grown to over $770 million in TVL, offering 24/7 subscription and redemption, daily interest accrual, low fees, and multi-chain support across Ethereum, Solana, XRP Ledger, and Polygon. Its portfolio includes tokenized funds from leading asset managers such as Fidelity (FDIT), BlackRock (BUIDL), Franklin Templeton (BENJI), WisdomTree (WTGXX), Wellington Management and FundBridge Capital (ULTRA), and State Street Investment Management’s SWEEP, which is set to join shortly.
Largest Tokenized Equities Platform
Ondo is also the largest tokenized equities platform, commanding over 50% of total market share—and surpassing the combined TVL of all other platforms—despite being the newest entrant. Since its launch in September 2025, Ondo Global Markets now holds over $500 million in value across more than 200 tokenized equities, with tens of thousands of asset holders driving over $7 billion in cumulative trading volume. Ondo’s tokenized equities are live on Solana, Ethereum, and BNB Chain, and are supported by major wallets, custodians, and exchanges—including Binance Wallet, Bitget, Trust Wallet, OKX Wallet, and Blockchain.com.
About Ondo Finance
Ondo Finance is a blockchain-based platform focused on tokenizing real-world assets and bringing institutional-grade financial products onchain. By bridging traditional finance with decentralized infrastructure, Ondo aims to make capital markets more accessible, transparent, and efficient.
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