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- 1 Ondo Finance, a US tokenized securities provider, has opened its first Asia Pacific branch.
- 2 The company claims a 40% global market share for tokenized securities.
- 3 Ondo tokens offer exposure to US treasuries and money markets.
Ondo Finance from the U.S. just opened an office in Asia Pacific to benefit from the growing crypto community there. They believe people in the Asia Pacific will appreciate the quality exposure to U.S. assets that their tokens offer.
Ondo Tokens Provide Access to U.S. Assets
Ondo now provides three tokenized products: OUSG, OMMF, and USDY. These tokens offer exposure to asset types like US Treasuries and money market funds.
According to Ondo founder and CEO Nathan Allman, “There is an active and rapidly growing crypto community and an appreciation for the type of high-quality exposure to U.S. assets that our tokens provide” in the APAC region. He sees strong potential demand for Ondo’s offerings there.
New APAC VP Appointed
Ondo has appointed Ashwin Khosa as Vice President of Business Development for the region to spearhead its Asia Pacific expansion. Khosa joins the company from Tether and Bitfinex, bringing experience in stablecoins and Asia Pacific markets.
According to Founder and CEO Nathan Allman, “There is an active and rapidly growing crypto community and an appreciation for the type of high-quality exposure to U.S. assets that our tokens provide” in the Asia Pacific region. He believes Khosa’s experience makes him the ideal candidate to tap this demand.
Recent Token Launches
Ondo’s Asia Pacific expansion comes after the company recently launched two new token offerings.
In November, it partnered with the Mantle network to launch USDY, a tokenized note secured by U.S. Treasuries and bank deposits. Just last month, Ondo also issued USDY on the Solana blockchain.
The company aims to leverage the awareness and traction gained from these recent launches to establish a presence in Asia Pacific markets quickly.
Location Still Unannounced
While Ondo announced its Asia Pacific expansion plans, it did not specify which city its new regional office would be located in. The company waited to respond to requests for clarification on the office location.
Asia Pacific Growth Crucial
Asia Pacific has emerged as one of the fastest-growing cryptocurrency adoption and innovation regions. The region is home to financial hubs like Singapore, Hong Kong, and Sydney, making it a logical choice for expansion.
Ondo’s move also comes amidst growing demand from Asian institutional investors for tokenized versions of assets like U.S. Treasuries. The company aims to become the prime provider of crypto-native access to such assets for these institutional players.
If Ondo can establish itself early with a strong Asia-Pacific presence, it could quickly dominate the regional market for regulated tokenized securities. Its tokens provide a way for investors to gain exposure to U.S. assets while still using cryptocurrencies and decentralized blockchains for settlement.
With the appointment of its new VP and the launch of two key token offerings in recent months, Ondo Finance now seems poised to make significant inroads into Asia Pacific. The region’s surging crypto asset demand and highly urbanized financial hubs provide the ideal backdrop.
Conclusion
Ondo Finance’s progress in tokenized securities and its large market share have positioned it for international growth. The Asia Pacific region, with its high crypto adoption rates, presents a logical next step.
As a pioneer issuer of tokenized asset offerings, Ondo could significantly advance the region’s financial landscape. However, executing its APAC strategy successfully requires strong leadership, which its appointment of digital finance veteran Ashwin Khosa demonstrates.
With robust product development activity in recent months, Ondo appears ready to make inroads by bringing more tokenized securities to Asia Pacific markets. The reception it finds will prove whether tokenized offerings can succeed globally.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
