Ondo Finance named Chainlink because the official oracle supplier for its tokenized shares and exchange-traded funds (ETFs), aiming to enhance how monetary knowledge strikes throughout blockchain networks.
Chainlink will provide customized worth feeds for the greater than 100 tokenized equities on Ondo’s platform, together with U.S.-listed shares and ETFs. Ondo’s tokenized equities now span 10 blockchains and symbolize over $320 million in whole worth locked, in line with a press release shared with CoinDesk.
The info consists of company actions like dividend funds and is meant to assist maintain valuations correct throughout the assorted blockchains the place these property are traded.
Ondo has lately expanded to the BNB Chain, broadening entry significantly in Asia and Latin America, the place BNB has a big person base.
These property are aimed toward non-U.S. buyers who need publicity to U.S. markets and face restrictions accessing conventional brokerage companies.
The 2 corporations plan to leverage Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as a normal for establishments shifting tokenized property between blockchains. CCIP is already being examined by conventional finance companies together with interbank messaging service Swift and DTCC, which offers clearing, settlement and commerce reporting, for related use circumstances.
The settlement is a part of a broader collaboration. Chainlink is becoming a member of the Ondo International Market Alliance, a bunch of companies supporting the adoption of tokenized shares onchain.
In parallel, Ondo will be part of Chainlink’s company actions initiative, which incorporates 24 monetary establishments resembling Swift, DTCC and Euroclear centered on bringing market infrastructure onto blockchain rails.
