Ondo Finance = TradFi meets Crypto

Since raising $24 million in rounds led by Pantera Capital, Ondo has trailblazed RWA tokenization and developed the Flux Finance protocol, which uses the ONDO token.

Blackrock's recent BUIDL token launch led to a re-pricing of the RWA sector, and Ondo has taken center stage 🧵

Protocol Research /messari • Nomading the world 🌎

are you bullish on tradfi asset issuers eg blackrock tokenizing things themself

or do you think RWAs can be better run by crypto native orgs that take other's assets and go tokenize them onchain (ie act as a custodian)

option 2 gives you dedicated focus (they only care about crypto) but another trust assumption

It's a good question. 

BlackRock being the issuer and custodian of BUIDL is powerful. Already all of Ondo's OUSG collateral has been converted from a BlackRock ETF to BlackRock BUIDL! 

I could see Circle doing something similar for USDC's Treasury collateral.

That being said, I feel more crypto native projects like Ondo have their spot too.

They can launch tokens like ONDO to incentivize adoption and move more nimbly to implement protocols onchain like Flux Finance.

But, BlackRock's BUIDL > Ondo's OUSG? It's hard to say, but I feel both can co-exist.