- Ondo Finance, backed by Coinbase, takes advantage of 73% weekly surge in ONDO tokens to expand into Asia Pacific.
- The company opens its first APAC office and appoints Ashwin Khosa as Vice President of Business Development for the region.
- The strategic move is consistent with Ondo’s dominant position in tokenized securities, targeting the digital asset craze in APAC.
Ondo Finance, a prominent US-based and Coinbase-backed issuer of tokenized securities, is making headlines with its strategic expansion into the Asia Pacific region.
The move comes as ONDO token value surges 73% week over week, showing the platform’s growing influence. The company’s entry into the dynamic APAC market will capitalize on the region’s strong interest in digital assets, driven by a thriving cryptocurrency community and evolving regulatory framework.
Ondo Finance’s presence in Asia Pacific
Ondo Finance has officially announced its strategic expansion into the Asia Pacific region while also announcing the opening of its first office in the region, marking a calculated move to capitalize on the growing enthusiasm for digital assets.
Although specific locations have not yet been revealed, company founder and CEO Nathan Allman has expressed enthusiasm for expansion. He emphasized the attractiveness of Ondo’s tokenized exposure to US assets, highlighting the vibrant and fast-growing cryptocurrency community in the Asia Pacific region.
To lead this strategic move, Ondo Finance has enlisted the expertise of Ashwin Khosa as Vice President, Business Development, Asia Pacific. With 10 years of institutional business development experience in Hong Kong, Khosa brings valuable insight into the nuances of on-chain finance and the Asia Pacific market.
This expansion aligns perfectly with Ondo’s existing dominance in the tokenized securities space, boasting nearly 40% of the global market share. The platform’s three main tokenized products – OUSG, OMMF and USDY – allow global investors to access major US-based asset classes in tokenized format.
ONDO token price movement
The expansion into the Asia Pacific region follows Ondo Finance’s ONDO token value increasing by a whopping 73% week-on-week. At press time, ONDO was trading at $0.2812, up 3% in 24 hours.
ONDO price chart
This surge reflects growing trust and interest in platforms and tokenized products.
Ondo Finance has been actively creating a future environment through strategic collaboration. In particular, partnerships with Mantle Network and Solana were highlighted, highlighting joint efforts to introduce USDY to their respective blockchain networks.
Additionally, the Ondo Foundation’s recent announcements, including a points program and ONDO token unlock proposal, further highlight the platform’s commitment to advancing on-chain finance and expanding its global influence.