I looked at the documentation for Ondo, the stock tokenization market. Although they promote that "users can mint and redeem tokenized U.S. stocks and ETFs 24 hours a day, five days a week* to gain liquidity from traditional exchanges," what they actually mean by "minting and redeeming" is "buying and selling stock tokens with stablecoins." This does not mean that users can transfer stocks from other brokerage accounts to the Ondo platform and "mint" them into stock tokens, nor can they "redeem" the purchased stock tokens for real stocks.
The assets backing the stock tokens on the Ondo platform are said to be "supported and guaranteed by assets held by one or more broker-dealers registered in the U.S. and cash in transit"—but the real situation has not been explained in more detail.
1/ Wall Street 2.0 is here.
Ondo Global Markets is now live, providing one of the largest-ever selections of tokenized U.S. stocks & ETFs onchain with the liquidity of traditional finance, starting on @Ethereum.
100+ assets now live, with hundreds more on the way.
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