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.