Ondo Finance names ChainLink as the official Oracle provider for tokenized stocks and exchange-traded funds (ETFs), which aims to improve how financial data moves across blockchain networks.
ChainLink will provide custom price feeds for more than 100 tokenized equities on the Ondo platform, including US-listed stocks and ETFs. Ondo’s tokenized equities now span 10 blockchains and represent more than $320 million in total value locked, according to a statement shared with Coindesk.
The data includes corporate actions such as dividend payments and is intended to help keep valuations accurate across the various blockchains where these assets are traded.
Ondo was recently extended to the BNB chainexpanding access especially in Asia and Latin America, where BNB has a large user base.
These assets are aimed at non-US investors who want exposure to US markets and face restrictions accessing traditional broker services.
The two companies plan to use ChainLink’s cross-chain interoperability protocol (CCIP) as a standard for institutions moving tokenized assets between blockchains. CCIP has already been tested by traditional financial companies including interbank messaging service Swift and DTCC, which provides clearing, settlement and trade reporting, for similar use cases.
The agreement is part of a wider collaboration. ChainLink has joined the Ondo Global Market Alliance, a group of companies that support the adoption of tokenized stocks onchain.
Accordingly, Ondo will be joined by the Corporate Actions Initiative, which includes 24 financial institutions such as SWIFT, DTCC and Euroclear committed to bringing market infrastructures to the blockchain rails.
