Ondo Finance Debuts First-Ever Tokenized Stocks Based on DTC Tokenized Entitlements to DTC-Held Securities

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*Marks the first time tokenized stocks have been backed by DTC Tokenized Entitlements to securities held at The Depository Trust Company (DTC) – the organization that clears and settles the vast majority of US stock trades. As the DTCC Tokenization Service continues its planned rollout later this year, Ondo expects to extend use of this model, making tokenized stocks based on DTC Tokenized Entitlements accessible to on-chain investors through Ondo’s global partner network of exchanges, wallets, and DeFi platforms. Ondo joins more than a dozen leading TradFi and DeFi firms — including BlackRock, JPMorgan, Goldman Sachs, Nasdaq, and NYSE — participating in DTCC's largest tokenization initiative to date, representing an important step toward the broader adoption of tokenized securities.* Ondo Finance today launched the first tokenized stock representations based on DTC tokenized entitlements to DTC-held securities generated through the DTCC Tokenization Service. The DTCC Tokenization Service leverages the same underlying DTC infrastructure that clears and settles the vast majority of US securities transactions and enables the recording of tokenized entitlements (also referred to as digital twins) to DTC-held securities. These tokenized entitlements carry the same CUSIP and symbol as the underlying securities, which can be delivered to DTC Participant wallets for use in connection with customers such as Ondo. Ondo joins more than a dozen firms representing a cross-section of TradFi and DeFi in DTCC's largest tokenization initiative to date. The initiative represents an important step toward bridging TradFi and DeFi, rather than building entirely separate systems around them. "Ondo is the only company simultaneously building all pathways for US securities tokenization. Today's initiative with DTCC demonstrates that Ondo Stocks infrastructure is purpose-built to interoperate with institutional market infrastructure, not to compete with it. As DTCC moves toward full production, Ondo will be a cornerstone tokenization partner bringing these assets onchain for investors," said Ian De Bode, CEO of Ondo Finance. Today's initiative represents an important milestone for the DTCC Tokenization Service and positions Ondo to deepen its role in US capital markets infrastructure as tokenized securities become increasingly integrated with traditional market infrastructure. How it Works: The underlying assets were Circle's publicly listed stock (CRCL) and the SPDR S&P 500 ETF Trust (SPY), represented on-chain as CRCLon and SPYon, Ondo Stocks tokens fully backed by each security. Under this model, DTC tokenized entitlements to DTC-held securities are generated through the DTCC Tokenization Service, and the DTC Tokenized Entitlements associated with CRCL and SPY serve as digital twins of the securities underlying existing CRCLon and SPYon tokens (Ondo's tokenized versions of the stocks). Ondo is onboarded to that network through Alpaca Markets, which connects Ondo to the DTC participant network. The DTC-held securities can be converted between traditional and tokenized forms, allowing greater flexibility, access to new liquidity pools, and enhanced digital asset functionality through the digital twin structure. That additional functionality translates directly into enhanced utility for Ondo Stocks tokens held across Ondo’s global partner network of exchanges, wallets, and DeFi platforms. The underlying securities remain within DTC's custody infrastructure throughout. “DTCC demonstrated that we can apply the same institutional rigor to tokenization as we do for traditional assets while continuing to safeguard the integrity and resiliency of the global financial markets,” said Frank La Salla, DTCC President and CEO. “The DTCC Tokenization Service will institutionalize tokenized markets on day one and will be a critical enabler of the digital ecosystem of the future, while reinforcing trust, safety and scale in a digital world.” About Ondo Finance Ondo Finance is a blockchain-based technology company focused on tokenizing real-world assets and bringing institutional-quality financial products on-chain. By bridging traditional finance and decentralized infrastructure, Ondo aims to make capital markets more accessible, transparent, and efficient. *This content is provided for informational purposes only. This content does not constitute investment advice, nor does it offer or provide investment advisory services. This content is not directed at nor intended for use by any investors or prospective investors, and may not be relied upon in any way when making an investment decision. The content speaks only as of the first date indicated. Any projections, estimates, plans, or opinions expressed in these materials are based on uncertain assumptions that may change at any time without notice.

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Ondo Finance has launched the first tokenized stock product based on Depository Trust Company (DTC) securities holding rights. This serves as a significant milestone in directly bridging traditional financial assets with blockchain technology. This move is expected to enhance institutional access to asset tokenization and lay the foundation for a 24/7 tradable financial market.

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The launch of DTC-based tokenized securities marks a pivotal shift in the integration of RWA (Real World Assets) into blockchain networks. By leveraging established settlement infrastructure, it mitigates counterparty risks while providing liquidity that was previously unattainable. As regulatory clarity increases, this model is poised to accelerate the transition from legacy settlement systems to automated, blockchain-native financial platforms.

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