Key takeaways
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Ondo plans an early 2026 rollout of tokenized US stocks and ETFs on Solana.
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The tokens are custody-backed. Underlying securities sit with US-registered broker-dealers, while onchain holders receive economic exposure rather than shareholder rights.
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Minting and redemption are designed to keep tokens anchored to real assets on a 24/5 basis, while transfers and trading can operate 24/7.
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Compliance is intended to travel with the asset, using Solana Token Extensions such as Transfer Hooks to enforce eligibility and transfer restrictions.
Ondo’s core pitch is that investors should be able to hold traditional financial exposure, such as Treasurys, money market funds and now US equities, inside the same wallet they use for stablecoins and move those assets onchain.
Most recently, the company plans to bring tokenized US stocks and exchange-traded funds (ETFs) to Solana. Ondo says it aims to launch these tokens in early 2026, extending a product line it already operates on other blockchains.
The idea is straightforward: You hold a “stock token” in your wallet, then trade or transfer that exposure on Solana, with settlement that can occur much faster than the traditional market stack and access that continues even when US exchanges are closed.
Did you know? Ondo Finance launched its USDY (“US Dollar Yield”) token in August 2023, describing it as a tokenized note backed by US Treasurys and bank deposits, paying 5% APY at launch.
What exactly is Ondo putting on Solana?
Ondo’s Global Markets product already offers onchain exposure to more than 100 US stocks and ETFs, with “hundreds more” on the roadmap. The team has flagged Solana as one of the next networks in line.
The Solana rollout focuses on taking that existing catalog and making it available on Solana in early 2026, with tokenized stock and ETF trading that runs 24/7 and settles in seconds.
With roughly $365 million already issued onchain, this represents a scale-up of Ondo’s existing tokenization business. Bringing the product to Solana follows an earlier expansion to BNB Chain.
According to Ondo’s disclosures, the tokens provide economic exposure to publicly traded stocks and ETFs, including dividend effects, with the underlying assets held at US-registered broker-dealers, along with cash in transit.
The holder’s claim is to that stream of economic returns, while shareholder rights over the underlying securities remain with the custodial structure that owns them. In short, financial performance lives onchain while formal ownership remains offchain. That is the core structure Ondo plans to bring to Solana.
How the structure works: Custody, minting and redemption
For stock tokens to be credible, they need to stay anchored to real securities.
Ondo’s design follows a classic custody-backed model. The underlying US stocks and ETFs are held with one or more US-registered broker-dealers, along with any cash that sits between trades or transfers. The tokens visible onchain are intended to reflect economic exposure to that pool of assets, rather than a separate synthetic product that could drift away from what is actually held.
That is where minting and redemption come in. Token supply is designed to expand and contract as users create and redeem tokens against the underlying assets, rather than leaving a fixed pool to trade freely on secondary markets.
Ondo says users will be able to mint and redeem 24 hours a day, five days a week, while the tokens themselves can move directly between crypto wallets and applications 24/7/365. In other words, creation and redemption align with traditional market hours, while transfers and trading follow crypto’s always-on rhythm.
Pricing is the other key component. If a token is meant to track total economic return, it cannot simply mirror the last exchange-traded share price. Dividends and corporate actions must be reflected in the data as well.
Ondo has pointed to Chainlink as the official oracle layer, and Chainlink has discussed building custom feeds for each tokenized equity that account for both price movements and events such as dividend payments. This gives protocols, trading venues and risk systems a single, consistent reference for what each token is worth at any given moment.
Solana’s technical features also matter at this level of detail. Tokenized equities require eligibility checks and transfer rules to be built into the asset’s behavior.
Solana’s Token Extensions include transfer hooks, which are pieces of code that run each time a token moves. This allows Ondo to attach conditions directly to the token, including who is allowed to hold it, which regions are excluded, and what happens when someone attempts to send it into a specific smart contract. These checks travel with the asset wherever it moves in the ecosystem.
Why Solana?
If Ondo wants tokenized US stocks to feel natural to everyday crypto users, Solana is an obvious candidate.
The network already has a large retail audience, fast…
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