Ondo Finance announced the formation of a nine-member alliance to establish standards for tokenized securities, as the company's ONDO token rose 1.5% to $0.7671 over the past 24 hours. The Global Markets Alliance includes major cryptocurrency infrastructure providers working to improve access to tokenized real-world assets for users outside the United States.
What to Know:
- Ondo Finance created the Global Markets Alliance with nine major crypto firms including Solana Foundation, BitGo, and Trust Wallet
- The alliance aims to standardize tokenized securities and improve cross-platform access to traditional financial products
- Ondo's token gained 1.5% following the announcement, with technical analysis showing a break above $0.765 resistance
Alliance Targets Traditional Finance Integration
The collaboration, announced in a June 17 blog post, brings together wallet providers, exchanges, and custodial services to address interoperability challenges in tokenized asset markets. Participants include the Solana Foundation, BitGo, Fireblocks, Jupiter, 1inch, Trust Wallet, Bitget Wallet, Rainbow Wallet, and Alpaca.
Each member contributes specialized services to the initiative. Wallet providers Trust Wallet and Rainbow Wallet are integrating Ondo's tokenized asset standards into their platforms, while exchanges Jupiter and aggregator 1inch will support programmatic access to these assets. BitGo and Fireblocks provide institutional custody infrastructure, and Alpaca handles brokerage services and regulatory compliance for tokenized securities.
The alliance precedes Ondo's planned launch of Ondo Global Markets, a platform designed to offer cryptocurrency wallets and applications tokenized exposure to U.S. publicly traded securities. The service will provide access to stocks, ETFs, and mutual funds for international users, aiming to reduce traditional capital market frictions.
Technical Standards and Compliance Focus
Alliance members will work to align technical and compliance standards for tokenized securities while improving cross-platform liquidity. The group supports use cases including self-custody solutions and on-chain trading capabilities, though no specific timeline has been established for implementation.
The initiative reflects a broader industry shift toward integrating traditional financial products into blockchain-based systems. Ondo Finance emphasized this trend in a June 28 post on X, stating that "2025 will be the year of tokenized stocks."
Token Shows Technical Strength
ONDO demonstrated strong technical performance during the announcement period, rising from $0.749 to $0.769 between June 28 at 15:00 UTC and June 29 at 14:00 UTC. This represented a 2.67% gain within a 3.33% trading range.
Technical analysis revealed key support at $0.755 with high trading volume during the 21:00 UTC hour on June 28. The token broke through resistance at $0.765 during the 00:00 UTC hour on June 29, when volume spiked to 8.9 million.
From 13:05 to 14:04 UTC on June 29, ONDO experienced minor selling pressure, declining from $0.773 to $0.769. Notable selling occurred at 13:33 UTC, though temporary support formed at $0.768 as multiple recovery attempts above $0.769 failed.
Price action during the final trading hour created a descending channel with lower highs, but the last candle suggested potential reversal momentum.
Closing Thoughts
The Global Markets Alliance represents Ondo Finance's strategic push to standardize tokenized securities infrastructure across major cryptocurrency platforms. With the token showing technical strength and the company projecting significant growth in tokenized assets by 2025, the initiative positions Ondo at the center of traditional finance's blockchain integration efforts.
