According to Ondo Finance’s blog, on July 15 (UTC+8), Ondo has launched its first tokenized stocks based on DTC Tokenized Entitlements, marking the first time tokenized stocks have been brought on-chain as digital twins of DTC-held securities, with underlying assets being Circle (CRCL) stock and the SPDR S&P 500 ETF (SPY), represented on-chain as CRCLon and SPYon, respectively. Technically, DTC generates tokenized entitlements corresponding to the underlying securities via its DTCC Tokenization Service. Ondo accesses the DTC participant network through its broker-dealer, Alpaca Markets, while the underlying securities remain fully custodied within DTC’s traditional infrastructure, enabling seamless conversion between traditional and tokenized forms. As the DTCC Tokenization Service is set to launch officially later this year, Ondo expects to expand this model through its global partner network—including exchanges, wallets, and DeFi platforms—to offer investors on-chain access to a broader range of assets. Ondo is also among the institutional participants in DTCC’s largest tokenization project to date, alongside BlackRock, JPMorgan Chase, Goldman Sachs, Nasdaq, and the New York Stock Exchange. (Source: Foresight News)
Ondo Finance Launches DTCC-Based Tokenized Securities for CRCL and SPY
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Summary
Ondo Finance has launched tokenized stocks based on DTCC Tokenized Entitlements, with on-chain updates highlighting the CRCLon and SPYon tokens. These assets are digital twins of DTCC-custodied securities, utilizing DTCC’s tokenization services. Alpaca Markets connects Ondo to the DTCC network, enabling seamless conversion between tokenized and traditional forms. The network upgrade will support expansion through global partners as DTCC services roll out later this year. Ondo joins BlackRock, JPMorgan, and others in DTCC’s major tokenization initiative.
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