Ondo Finance has named Chainlink as its official oracle provider for tokenized stocks and exchange-traded funds (ETFs), with the aim of improving the way financial data moves across blockchain networks.
Chainlink provides custom price feeds for over 100 tokenized stocks on Ondo’s platform, including US-listed stocks and ETFs. According to a statement shared with CoinDesk, Ondo’s tokenized shares are currently spread across 10 blockchains, with a total value of over $320 million locked.
The data includes company activities such as dividend payments and is intended to help keep valuations accurate across the various blockchains on which these assets are traded.
Ondo recently expanded to the BNB chain, increasing its access, especially in Asia and Latin America, where BNB has a large user base.
These assets are aimed at non-U.S. investors who desire exposure to U.S. markets and face limitations in accessing traditional securities services.
The companies plan to leverage Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as the standard for institutions moving tokenized assets between blockchains. CCIP is already being tested for similar use cases by traditional financial companies such as interbank messaging service Swift and clearing, settlement, and transaction reporting provider DTCC.
This agreement is part of a broader cooperation. Chainlink joins the Ondo Global Market Alliance, a group of companies supporting the adoption of tokenized stocks on-chain.
In parallel, Ondo will join Chainlink’s Corporate Action Initiative, which includes 24 financial institutions such as Swift, DTCC and Euroclear, focused on bringing market infrastructure to blockchain rails.
