Ondo Finance named Chainlink the official oracle provider for its tokenized stocks and exchange-traded funds (ETFs), with the aim of improving the way financial data moves across blockchain networks.
Chainlink will provide custom price feeds for the more than 100 tokenized stocks on Ondo’s platform, including US-listed stocks and ETFs. Ondo’s tokenized shares now span 10 blockchains and represent a total value of more than $320 million, according to a statement shared with CoinDesk.
The data includes corporate actions such as dividend payments and is intended to keep valuations accurate across the various blockchains where these assets are traded.
Ondo recently expanded to the BNB Chain, broadening access, especially in Asia and Latin America, where BNB has a large user base.
These assets are aimed at non-US investors who want exposure to US markets and face restrictions in accessing traditional brokerage services.
The two companies plan to use Chainlink’s Cross-Chain Interoperability Protocol (CCIP) as a standard for institutions moving tokenized assets between blockchains. CCIP is already being tested by traditional financial companies, including interbank messaging service Swift and DTCC, which provides clearing, settlement and trade reporting, for similar use cases.
The agreement is part of a broader collaboration. Chainlink joins the Ondo Global Market Alliance, a group of companies supporting the adoption of tokenized stocks onchain.
At the same time, Ondo will join Chainlink’s corporate actions initiative, which includes 24 financial institutions such as Swift, DTCC and Euroclear, which are focused on bringing market infrastructure on blockchain rails.