Ondo Finance, a US-based tokenized securities issuer, announced today We open our first office in Asia Pacific.
The company, which claims to have approximately 40% of the global market share of tokenized securities, currently offers three tokenized products: OUSG, OMMF, and OUSG. USDY — Allows exposure to U.S.-based asset classes such as U.S. Treasury bonds and money market funds.
“There is an active and fast-growing cryptocurrency community and an appreciation for the type of high-quality exposure to U.S. assets that our token provides,” Ondo founder and CEO Nathan Allman said in a press release.
Ondo appointed Ashwin Khosa, who previously worked at Tether and Bitfinex, as vice president of business development for the APAC region.
November Temperature and Mantle Network Released USDY is a tokenized paper currency backed by US Treasury bonds and bank deposits. According to Ondo’s X, Ondo launched USDY on Solana in December. post.
Ondo did not specify the APAC office location in its statement. The Block did not immediately respond to a request for comment.
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About the author
Danny Park is The Block’s East Asia reporter, writing about topics including Web3 development and cryptocurrency regulation in the region. He previously worked as a reporter for Forkast.News, where he actively covered the fall of Terra-Luna and FTX. Based in Seoul, Danny previously produced written and video content for media companies in Korea, Hong Kong and China. He holds a Bachelor’s degree in Journalism and Business Marketing from the University of Hong Kong.