TechFlow News, July 15, according to official announcements, Ondo Finance announced the launch of the first tokenized stock based on DTC tokenized rights, with underlying securities corresponding to those held by the Depository Trust Company (DTC) and on-chain "digital mapping" generated through DTCC tokenization services. The initial underlying assets include Circle stock (CRCL) and SPDR S&P 500 ETF Trust (SPY), with on-chain tokens being CRCLon and SPYon respectively. This model allows securities to convert between traditional and tokenized forms while keeping the underlying securities within the DTC custody system.
Ondo stated that as DTCC tokenization services continue to advance later this year, it plans to expand the accessibility of such tokenized stocks through a partner network of global exchanges, wallets, and decentralized finance platforms.
