Ondo Finance plans to make BitGo (BTGO) shares available on blockchain rails on Thursday, the same day as its listing on the New York Stock Exchange, giving investors around the world quick access to the newly public crypto custodian.
Tokenized stocks will be available for trading on the Ethereum, Solana, and BNB chains through Ondo Global Markets, the company’s platform for on-chain trading of traditional financial assets, immediately after they begin trading on the NYSE.
Ondo boasted that he was one of the first to tokenize the stock of a US company so quickly after its IPO. BitGo has not yet started trading, but is expected to do so later in the day.
In this way, investors outside the US can gain exposure to BitGo by using stablecoins to purchase shares in the company without waiting for brokerage access or leaving blockchain rails.
BitGo provides crypto custody and payment infrastructure for institutions and is a core player in the digital assets space. The IPO at $18 per share comes at a time when the broader cryptocurrency market is under pressure, with many recent public debuts related to digital assets underperforming. Bitcoin, the largest cryptocurrency, is down nearly 30% from its all-time high in October.
Ondo Global Markets began offering token versions of its leading U.S. stocks and ETFs in September, and since then, total locked-in has grown to more than $466 million and cumulative trading activity has grown to more than $6.4 billion, the company said.
