Ondo Finance Rolls Out 24/7 Minting, Redemption for Tokenized US Stocks and ETFs

Ondo Finance has launched 24/7 minting and redemption for tokenized US stocks and exchange-traded funds.

In a post on its official blog on June 25, the company said it was expanding instant minting and redemption for tokenized stocks and ETFs from five days a week to seven.

Minting is the process through which users receive newly issued tokens linked to underlying stocks or ETFs. Redemption allows holders to convert those tokens back into cash or receive value based on the underlying assets.

Tokenized stocks had already been transferable on-chain around the clock, but new issuance and redemption were still limited to traditional stock-market hours. With the upgrade, eligible users can mint or redeem supported assets on weekends and US market holidays.

"True 24/7 trading for tokenized stocks is now possible," Ondo Finance wrote in the blog post. Previously, only transfers were available 24 hours a day, while minting and redemption remained restricted to traditional market hours.

The feature will be available first on Ethereum and BNB Chain. Support for Solana will be added later.

The initial lineup includes six assets: SPYon, QQQon, CRCLon, NVDAon, TSLAon and GOOGLon. Ondo Finance said those are the most actively traded tokenized stocks and ETFs on its platform.

The company expects the move to give users more flexibility to manage tokenized stock positions when traditional US equity markets are closed.

Ondo Global Markets currently supports more than 430 tokenized stocks and ETFs across Solana, Ethereum and BNB Chain. The company said total value locked on the platform has surpassed $1 billion.