After the closing of the New York Stock Exchange and Nasdaq, global investors often have to wait for the next trading day. But now, this situation is changing — through tokenization of securities, investors can trade tokenized Apple stocks or SPDR S&P 500 ETFs at any time and from anywhere, as easily as trading cryptocurrencies.
As a leader in the tokenization of Real World Assets (RWA), Ondo Finance holds nearly 40% of the global market share of tokenized securities. The recent launch of the Ondo zone on Gate exchange is an important reflection of this trend.
01 Break the boundaries, Gate and Ondo’s24⁄7New Financial Ecosystem
On September 3, Ondo Finance officially launched Ondo Global Markets, offering more than 100 tokenized US stocks and ETFs. These tokenized securities cover the US stock targets that investors care about most, from Apple and Tesla to the S&P 500 Index.
At the same time, Gate exchange has launched the Ondo section, offering borderless tokenization of stock financial trading. This collaboration marks the transition of the RWA track from the experimental stage to large-scale application, which could fundamentally change the way traditional financial markets operate.
Gate’s Ondo section has launched the first batch of 26 tokenized asset trading pairs, including SPYON/USDT (tracking the S&P 500 ETF), QQQON/USDT (tracking the Nasdaq ETF), TSLAON/USDT (tracking Tesla stock), etc.
02 Mechanism Innovation, Ondo’s Instant Atomic Minting and Burning Model
The core innovation of Ondo Global Markets lies in its "instant atomic minting and burning" mechanism. Unlike the "supermarket model" of existing platforms that require pre-purchasing stocks and minting tokens, Ondo employs a more advanced "takeout model."
When users place an order to purchase Amazon stocks, the platform goes to Nasdaq to "procure" real stocks and mint tokens; when users sell, the tokens are immediately destroyed, and the stocks are sold on Nasdaq. This method has no inventory restrictions and directly inherits the trading depth of hundreds of billions of dollars on Nasdaq every day.
This model addresses the liquidity issues that have long plagued the tokenization asset sector. Data shows that $50,000 USDC can buy 218.67 AMZNon on Ondo, while only 38.97 Tokens can be purchased on other platforms, resulting in a significant slippage of -82.33%.
03 Price Performance, ONDO’s Short-term Volatility and Long-term Potential
As of September 17, the price of ONDO has increased by 16% in the past week, showing strong upward momentum. Analysts point out that ONDO has formed a bullish cup and handle pattern, and it is expected to rise to $2.12.
The 50-day moving average of ONDO has crossed above the 200-day moving average, forming what is known as a "golden cross," which usually signals the beginning of a strong upward trend. Traders are eyeing a short-term target close to $1.35, and if the momentum holds, ONDO could rise further to around $2.12.
Derivatives data provides cautious signals. Open interest decreased by 2.80%, while trading volume increased significantly by 8.96%. The OI weighted funding rate is 0.0261%, reflecting relatively stable leverage position financing.
04 Scale growth, explosive expansion of the RWA track
The RWA sector is experiencing explosive growth, with tokenized assets connecting traditional finance and the crypto world in unprecedented ways. As of September 2025, the total value locked (TVL) in RWA protocols has surged to $12.7 billion.
The market capitalization of top RWA cryptocurrencies has reached $38.5 billion, growing by 8.64% in the past month, while the overall RWA market has surged by 260% this year to $23 billion. Experts predict it will surpass $50 billion by the end of the year and could reach $10 trillion by 2030.
BlackRock’s BUIDL Fund (launched in 2024) continues to dominate, with assets under management (AUM) reaching $2.38 billion by August 2025, accounting for 32% of tokenized treasury bills. Fidelity and VanEck also announced tokenized funds in 2025.
05 Institutional entry, strategic layout of traditional financial giants
The development of RWA is inseparable from the participation of traditional financial institutions and the gradual improvement of regulatory frameworks. Institutions such as BlackRock and Goldman Sachs have established strategic partnerships with Ondo Finance.
The Hong Kong "Stablecoin Regulation" will come into effect on August 1, 2025, establishing the world’s first regulated stablecoin system. The U.S. Senate passed the "GENIUS Act," providing a legal framework for the tokenization of major assets such as government bonds and securities.
In September 2025, Nasdaq submitted an application to the U.S. Securities and Exchange Commission (SEC) to trade tokenized stocks on its primary market. If approved (possibly in the third quarter of 2026), it will allow "equivalent rights" tokens to coexist with traditional stocks.
06 Challenges Remain: Obstacles and Bottlenecks in RWA Development
Despite the broad prospects, the tokenization of US stocks still faces multiple challenges. Uncertainty in cross-border regulation: even with custody by a US broker, the cross-border sale of securitized tokens may still trigger compliance requirements from different jurisdictions.
Market education: How to get more traditional investors to accept on-chain US stock products and maintain stable liquidity depth is a long-term operational challenge. The gray area of tax rules: The classification of capital gains and dividend taxes for on-chain US stocks has not yet been unified across different countries.
In addition, 85% of the ONDO Token supply is still locked, and future unlocks may cause short-term fluctuations. Investors need to pay attention to this factor in token economics.
Future Outlook
The tokenization of the total trading volume of US stocks is rapidly growing. xStocks has achieved a total trading volume of 3.782 billion dollars in three months, while Ondo Global Markets reached a trading volume of 65 million dollars just two days after its launch.
With the entry of traditional financial giants such as BlackRock and Goldman Sachs, RWA is no longer just a concept but a reality that is happening—it is breaking down the walls of traditional financial markets, allowing global investors to access the U.S. capital markets on an equal footing, no longer constrained by high transaction costs and geographical limitations.
The prosperity of RWA may further amplify the global liquidity of US stocks and even give rise to an all-weather "Wall Street 2.0.
