Ondo Finance has selected Chainlink as its official oracle provider for tokenized stocks and exchange-traded funds (ETFs), aiming to enhance the flow of financial data across blockchain networks.
Chainlink will deliver specialized price feeds for over 100 tokenized equities on Ondo’s platform, including stocks and ETFs listed in the U.S. Ondo’s tokenized equities now encompass 10 blockchains, representing more than $320 million in total value locked, as stated in a release shared with CoinDesk.
The data will incorporate corporate actions like dividend distributions and is designed to maintain accurate valuations across the various blockchains where these assets are traded.
Recently, Ondo expanded its reach to the BNB Chain, enhancing access especially in Asia and Latin America, regions with a significant BNB user base.
These assets are tailored for non-U.S. investors looking to gain exposure to U.S. markets but facing barriers in accessing traditional brokerage services.
Both firms plan to utilize Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as a standard for moving tokenized assets between blockchains. CCIP is currently being tested by traditional finance entities like the interbank messaging service Swift and DTCC, which handles clearing, settlement, and trade reporting, for similar applications.
This agreement marks the beginning of a wider collaboration. Chainlink will join the Ondo Global Market Alliance, a consortium of firms advocating for the on-chain adoption of tokenized stocks.
At the same time, Ondo will participate in Chainlink’s corporate actions initiative, which includes 24 financial institutions such as Swift, DTCC, and Euroclear, focusing on bringing market infrastructure onto blockchain frameworks.
