Ondo’s integration with BNB Chain: The moment when compliant institutional assets meet crypto retail traffic

Author | Dingdang ( @XiaMiPP )

In the 2025 crypto landscape, RWA (Real World Assets) has leaped from a fringe concept to a “cash flow engine” jointly bet on by institutions and on-chain funds. It’s no longer an empty slogan of “tokenizing everything,” but a compliant track where traditional finance and blockchain truly intersect. The entry of traditional financial giants like BlackRock, Goldman Sachs, and Fidelity over the past two years has given this experiment real-world support. The successful launches of BlackRock’s BUIDL fund and Goldman Sachs’ on-chain bond pilot program signify that core assets of traditional finance are being systematically moved onto the blockchain. RWA is no longer just a Web3 testing ground, but a legitimate battleground where traditional capital is actively involved.

In this race to put trillions of dollars of assets on-chain, Ondo Finance has emerged as one of the most certain and representative players. To date, Ondo manages over $1.8 billion in on-chain assets, offering annualized returns of 5%+ , and has built an institutional-grade compliance framework through FinCEN registration, Reg D exemption, 和 SEC registration with ATS (Oasis Pro) . This means that it not only tells the story of RWA in the on-chain world but also provides a trustworthy source of returns under regulatory scrutiny.

On October 29th, Ondo announced that its core product , Ondo Global Markets (OGM), has officially been integrated into the BNB Chain, marking a significant step towards bringing tokenized stocks and ETFs to the BNB ecosystem on a large scale. In terms of technology, compliance, and ecosystem cooperation, this move signifies that Ondo is pushing “institutional-grade tokenized assets” into the on-chain market with a massive retail user base.

Stablecoins to the US dollar, OGM to the US stock market

Ondo Global Markets (OGM) is a global tokenized securities platform launched by Ondo Finance in September 2025. Its emergence is almost a response to a long-standing question: “Why can the crypto world trade 24 hours a day, but Wall Street assets are still restricted by time zones, identity, and national borders?”

OGM’s goal is to break down the barriers of “time and identity,” enabling compliant global investors to access publicly traded US securities 24/7 on-chain. OGM’s core concept is described as: ” Stablecoins are to the US dollar, OGM is to US stocks .” In other words, OGM attempts to replicate the success of stablecoins in the money market for the stock market: through tokenization, it aims to achieve 1:1 price tracking and automatic dividend payments for US stocks, while also providing programmability, composability, and high liquidity with no slippage . Users can easily exchange stablecoins for these tokenized stocks within DeFi protocols . From then on, “owning Tesla” no longer requires a securities account, only an on-chain wallet.

根据数据 defillama.com , OGM’s total value locked (TVL) climbed to $320 million in just nine weeks after its launch, with cumulative on-chain transaction volume exceeding $669 million . It supports more than 100 tokenized US stocks or ETFs , including some of the most representative assets such as SPY, Apple, Tesla, NVIDIA, and QQQ.

Meanwhile, according to data from rwa.xyz , OGM ranks among the top tier in the stock tokenization sector in terms of asset quantity, capital scale, and market influence, becoming the core sample of the entire RWA narrative.

Born on Wall Street, leading to the world of blockchain

Ondo’s rapid growth is no accident. Its very existence is a fusion of finance and cryptography.

Founded in 2021, Ondo Finance has raised over $40 million in funding. Its investor lineup includes traditional giants like BlackRock, Fidelity, and JPMorgan , as well as prominent crypto capital firms such as Pantera and Coinbase Ventures . This provides both financial support and crucial complementarity in terms of talent and compliance.

Its co-founder, Nathan Allman, previously worked as a fixed-income trader at Goldman Sachs and has a deep understanding of the operating logic of traditional capital markets. More than 80% of the team members come from institutions such as Goldman Sachs, JPMorgan Chase, and BlackRock. This means that Ondo can be closer to the expectations and regulatory requirements of traditional markets when designing product processes, connecting with custodians and brokers, and handling KYC/AML processes.

This “dual lineage” means that Ondo places greater emphasis on process-orientation, compliance, and auditability when advancing on-chain innovation: from custody arrangements and clearing integration to investor eligibility criteria and compliance reporting mechanisms, every step Ondo takes establishes a verifiable link between “on-chain operability” and “off-chain compliance.” While this approach may slow down product iteration in the short term, it significantly reduces institutional risks in the long run, making institutional investors and regulated participants more willing to experiment and scale up.

BNB Chain: From Retail Investor Paradise to Compliant RWA Hub

For a long time, BNB Chain has been associated with a large number of daily active users, low transaction costs, and an active DeFi ecosystem. These characteristics have made it the top choice for global retail investors due to its high user traffic, but they have also masked a key weakness— insufficient compliance capabilities for institutional-grade assets . Large user traffic and a decentralized application ecosystem are not inherently equivalent to the institutional trust foundation and partner endorsement required for regulated securities (such as US stocks and ETFs).

Today, Ondo Global Markets’ decision to integrate with BNB Chain is not merely a simple technical integration, but rather a complementary narrative: institutional assets 和 retail traffic are finally meeting within the same system. BNB Chain boasts over 3.4 million daily active users and its ecosystem includes deep trading scenarios and decentralized exchanges (such as PancakeSwap), enabling it to quickly facilitate the liquidity path of tokenized securities and rapidly push “compliant assets” to a wider global retail user base.

It’s worth noting that BNB Chain listed RWA as one of its key ecosystem strategies in 2025 and launched an incentive and technical support program for RWA projects, covering everything from compliance guidance and liquidity incentives to market promotion. Ondo’s entry into the ecosystem may serve as a “model” for this program. It brings BNB Chain’s RWA ecosystem from concept to reality and opens a direct channel for global retail investors to access US stocks.

RWA’s Democratization: From Silicon Valley to Emerging Markets

For Ondo, choosing BNB Chain marks a strategic turning point as it moves from high-end institutional services to the global retail market . A significant proportion of BNB Chain’s daily active users come from emerging markets in Asia and Latin America—retail users in these regions are often limited by access to their home markets, brokerage barriers, and cross-border settlement costs. For them, OGM offers more than just a fancy experience like “buying one share of Tesla”; it provides a low-barrier, actionable channel to participate in global assets.

RWA’s significance here goes beyond “asset on-chaining,” but rather makes “financial participation rights” more inclusive—removing the dependence of shareholding on geography, identity, or thresholds, and enabling anyone in the world to become a part of the capital market.

From a brand and growth perspective, this step will significantly enhance Ondo’s brand awareness: it will no longer be just “a synonym for Silicon Valley compliant RWA,” but has the opportunity to become a representative platform that “brings Wall Street assets to ordinary users around the world.”

Conclusion: RWA is more than just asset tokenization.

Looking back at this wave, it’s easy to see that when people talk about RWA, they always focus on “what assets to put on the blockchain.” But the real revolution is not about “moving” assets, but about “reconstructing” them.

RWA redefines the underlying logic of the financial system: ownership can be divided, returns can be automatically distributed, and liquidity can be more efficiently bridged across multiple markets and protocols. More importantly, it has the potential to transform capital markets from a system constrained by trading hours, settlement cycles, and geographical limitations into a more continuous, composable, and globally accessible network.

Ondo Finance may be becoming one of the most symbolic names in this transformation. It serves as both a bridge and a testing ground—seeking a new balance between compliance and decentralization, and between institutions and retail investors. And when it joins forces with BNB Chain, this balance is pushed to a larger dimension: RWA is no longer just a tokenized container for institutional assets, but a new gateway for global capital flows.

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