Ondo tokenizes Strategy’s STRC preferred stock at 11.5% yield

Ondo Finance have tokenized STRC is a perpetual preferred stock of Strategy Inc. that will be made available to non-U.S. investors. Ethereum, $BNB chainand Solana Through Ondo Global Markets. The tokenized version has the same annualized yield of 11.5% as the underlying security, pays monthly dividends, and is backed 1:1 by STRC shares held in custody.

What is STRC? Why is it important?

STRC, also known as “Stretch,” is a floating rate perpetual preferred stock issued by Strategy Inc., the largest publicly traded Bitcoin holder. Strategy launched STRC in July 2025 through a $2.521 billion initial public offering, which ranked as one of the largest U.S. IPOs of the year.

This security was designed with the specific goal of generating recurring income while funding Strategy’s ongoing Bitcoin acquisition program. Unlike common stock, preferred stock sits at the top of a company’s capital structure. That is, preferred shareholders typically receive dividends before common shareholders.

STRC has a face value of $100. The strategy adjusts the monthly dividend rate to bring the stock trading closer to that level, reducing price volatility and giving holders a more predictable income stream. At the time of writing, STRC has an annual yield of 11.5%, paid in cash on a monthly basis.

STRC is part of Strategy’s broader lineup of preferred securities issued from 2025 onwards, including STRK, STRF and STRD. Each series is structured differently to appeal to investors with different risk levels and income preferences.

How does tokenized STRC work in the Ondo Global Market?

Ondo Global Markets issues STRC tokenized as structured notes. This token reflects the economic exposure of the underlying STRC shares, including dividend treatment where applicable, rather than creating aggregate exposure without the backing of reserves.

The main features of tokenized products are:

• 1:1 backing: Each token is backed by corresponding STRC shares in custody, creating a direct link to traditional market security.
• 24/7 on-chain access: Unlike traditional securities markets, tokenized STRC can be accessed at any time through Ondo’s platform.
• Instant minting and redemption: Investors can mint and redeem tokens through Ondo’s infrastructure, which connects on-chain products to traditional market liquidity.
• DeFi configurability: The token is designed to be used within decentralized finance protocols, but how users choose to integrate the token will depend on their own strategy and applicable regulations.
• Multi-chain availability: The product is running across Ethereum, $BNB Chain and Solana.

Ondo uses platform infrastructure to connect tokenized products to traditional market liquidity and handle the minting and redemption processes. Fees and applicable withholding taxes apply based on Ondo’s structure.

Who can access tokenized STRC?

The tokenized STRC product is currently available to non-US investors through Ondo Global Markets. While US investors are not the target audience for this specific launch, this is consistent with how many tokenized real world asset (RWA) products are being built under existing securities regulations.

This is important because STRC is a U.S. security as a Nasdaq-listed preferred stock. Tokenizing it and distributing it to international investors through a blockchain-based platform provides a route for market participants outside the U.S. securities trading system to access high-yield preferred stocks tied to one of the most debated corporate finance strategies in recent years.

Why is this launch important for tokenized real-world assets?

STRC’s tokenization is part of a broader movement to bring traditional financial products to blockchain rails. Ondo Global Markets first launched tokenized US stocks and exchange-traded funds (ETFs) on Ethereum in September 2025, and has since expanded to Solana and Ethereum. $BNB chain. The platform currently has over 250 tokenized assets listed and holds a notable share of the tokenized stock market.

The addition of STRC expands Ondo’s catalog beyond standard stock and ETF tokenization to more specialized yield products. STRC occupies a different category than most tokenized stocks currently on the market because it combines preferred stock income mechanics, connectivity to Bitcoin treasury strategies, and on-chain accessibility in one product.

For income-oriented investors, especially those seeking yield without directly holding Bitcoin or opening a U.S. brokerage account, STRC represents a specific type of exposure that has traditionally been difficult to access on-chain.

What is Ondo’s role in the DTCC’s Tokenization Working Group?

On the same day as the inauguration of STRC, Ondo was announced As a participant in the New Industry Working Group sponsored by the Depository Trust and Clearing Corporation (DTCC). DTCC is the central clearing and settlement infrastructure for the U.S. capital markets, storing more than $114 trillion in assets and clearing approximately $3.7 trillion in trades annually.

DTCC is currently building a tokenization service aimed at bringing the core functionality of US capital markets on-chain. Ondo is among a select group of companies invited to contribute to the design of its services, alongside institutions such as BlackRock, Goldman Sachs, JP Morgan, Franklin Templeton, Morgan Stanley, Bank of America, Citadel Securities, NYSE Group, Circle, Fireblocks, and Robinhood.

Frank La Sala, president and CEO of DTCC, said the organization believes tokenization will revolutionize the way markets work and operate, bringing new levels of liquidity, transparency and efficiency to investors.

conclusion

Ondo’s tokenization of STRC will give non-US investors on-chain access to one of Strategy’s key yield products: floating rate preferred stock with an annual yield of 11.5% backed 1:1 by custodial shares. The product supports 24/7 access, instant minting and redemption, and potential DeFi composability across three major blockchains.

Coupled with Ondo’s selection as a contributor to DTCC’s Tokenization Working Group alongside key Wall Street institutions, the launch of STRC demonstrates how structured traditional financial products are gradually transitioning to blockchain infrastructure.

1. Ondo Finance on X: Posted on May 4th

2. Report by Cryptotalk: Ondo brings Strategy’s 11.5% yield STRC stock on-chain

3. Report by Crypto Times: Ondo tokenizes Strategy’s STRC preferred stock with monthly yield of 11.5%