Ondo Finance named Chainlink as an official Oracle provider for its tokenized stocks and exchange-traded funds (ETFs), aiming to improve the way financial data moves across blockchain networks.
Chainlink will provide custom pricing for the more than 100 tokenized stocks on the Ondo platform, including U.S.-listed stocks and ETFs. Ondo tokenized stocks 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 maintain accurate valuations on the various blockchains where these assets are traded.
Ondo has recently expanded into the BNB chain, expanding access particularly 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 in accessing traditional brokerage services.
The two companies plan to leverage Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as a standard for institutions moving tokenized assets between blockchains. The CCIP is already being tested by traditional financial companies, including interbank messaging service Swift and DTCC, which provides trade clearing, settlement and reporting, for similar use cases.
The agreement is part of a broader collaboration. Chainlink joins the Ondo Global Market Alliance, a group of companies supporting the adoption of tokenized on-chain stocks.
In parallel, Ondo will join the Chainlink corporate equity initiative, which includes 24 financial institutions such as Swift, DTCC and Euroclear focused on bringing market infrastructure to blockchain rails.
