New York, NY, Monday, January 22–Leading cryptocurrency exchange Binance announced today its support for Ondo Finance (ONDO), a newly launched project aiming to bridge the gap between traditional finance (TradFi) and the crypto ecosystem by tokenizing real-world assets (RWAs) like short-term bonds and US Treasuries. 1
The project, led by former Goldman Sachs executives Justin Schmidt (President & COO) and Nathan Allman (Founder & CEO), has garnered initial traction with Binance listing perpetual contracts for the ONDO token, allowing users to trade with up to 50x leverage.
Ondo seeks to provide investors with convenient access to RWAs on the blockchain, currently offering products that invest in various TradFi markets, including iShares Short Treasury Bond ETF and BlackRock’s short-term Treasury bond ETF.
This approach potentially offers exposure to familiar assets with added benefits like increased transparency and fractional ownership that blockchain technology enables.
Analysts said that Binance’s decision to launch perpetual contracts for ONDO signified its confidence in the project’s potential to disrupt the financial landscape.
Spot market listing for ONDO is still not announced.
- Binance: https://www.binance.com/en/support/announcement/binance-futures-will-launch-usd%E2%93%A2-m-ondo-perpetual-contract-with-up-to-50x-leverage-af6c1bbbe6ec406c8b2d087fe47c5554[↩]
