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About Ondo Finance
Industries
Fintech
Crypto & Web3
Company Size
11-50
Company Stage
ICO
Total Funding
$23.3M
Headquarters
New York City, New York
Founded
2021
Overview
Ondo Finance provides financial solutions in the decentralized finance (DeFi) sector, focusing on making advanced financial products accessible to a wider audience through blockchain technology. Their services cater to individual investors, financial institutions, and decentralized autonomous organizations (DAOs). Ondo Finance's offerings include secure and transparent financial services that were previously available mainly to large institutions. They earn revenue through transaction fees, asset management services, and premium financial products. What sets Ondo Finance apart from competitors is its commitment to security, transparency, and accessibility, aiming to connect traditional finance with the growing DeFi market.
Simplify's Take
What believers are saying
- Partnership with Mastercard enhances market reach and credibility.
- Launch of Ondo Chain attracts more institutional clients.
- Ex-Congressman McHenry's appointment aids in regulatory navigation.
What critics are saying
- Increased competition from DeFi platforms could dilute market share.
- Regulatory scrutiny on tokenized assets may lead to compliance challenges.
- Cryptocurrency market volatility poses risks to asset management services.
What makes Ondo Finance unique
- Ondo Finance offers institutional-grade financial solutions on the blockchain.
- The company integrates tokenized real-world assets into Mastercard's Multi-Token Network.
- Ondo Chain provides a unique infrastructure for onchain financial markets.
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Funding
Total Funding
$23.3M
Above
Industry Average
Funded Over
3 Rounds
Tiger Global
Founders FundBenefits
Health Insurance
Dental Insurance
Vision Insurance
Unlimited Paid Time Off
Company Equity
Stock Options
Remote Work Options
Growth & Insights and Company News
6 month growth
↓ -2%1 year growth
↓ -4%2 year growth
↓ -12%The relationship between traditional finance and cryptocurrency has, for years, been uneasy at best. But when it comes to FinTech companies, it’s been an entirely different story. Many of the leading platforms have embraced blockchain products, positioning them at the center of their offerings. The crypto products they are embracing and integrating? Stablecoins and financial services tend to top the list. Take for example Stripe’s latest shareholder letter, which includes an entire section on stablecoins as “room temperature superconductors for financial services.”
And while it has fallen along with the market today, the selloff comes after Ondo Finance signed a deal with Mastercard to join the latter's Multi-Token Network as a provider of tokenized real-world assets.
Broadened Political Influence: Patrick McHenry, known for his role as a former Congressman and Chairman of the House Financial Services Committee, recently joined Ondo Finance as vice chairman of its advisory board.
Mastercard partners with Ondo Finance to revolutionize business transactions with blockchain.
Ondo Finance will be the first provider to bring real-world assets to Mastercard’s Multi-Token Network (MTN). Announcing the effort Wednesday (Feb. 26), Ondo said its short-term U.S. government treasury fund (OUSG) — the first tokenized real-world asset (RWA) on the Mastercard network — will let businesses earn daily yield via tokenized assets with 24/7 subscriptions and redemptions, with no need for stablecoins onramps or settlement windows. “This partnership represents a landmark moment of connecting private payment network rails to tokenized assets on public blockchain networks,” Ian De Bode, chief strategy officer of Ondo Finance, said in a news release. “This connectivity will enable the banking ecosystem to move to 24/7 functionality on a global basis, powered by Ondo’s assets and services.”
Ondo Finance is Hiring for 15 Jobs on Simplify!
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About Ondo Finance
Industries
Fintech
Crypto & Web3
Company Size
11-50
Company Stage
ICO
Total Funding
$23.3M
Headquarters
New York City, New York
Founded
2021
Ondo Finance is Hiring for 15 Jobs on Simplify!
Find jobs on Simplify and start your career today