Ondo Finance Launches Tokenized Access to Private Pre-IPO AI Company
Ondo Finance unveils tokenized securities linked to private enterprises, beginning with a pre-IPO artificial intelligence company not yet disclosed and featuring round-the-clock secondary market trading capabilities.
Ondo Finance, a platform specializing in the tokenization of real-world assets, is moving into the private markets arena by offering tokenized access to a yet-to-be-named artificial intelligence company preparing for its initial public offering.
Through its newly launched Ondo Private Markets initiative, the platform is making available tokenized notes that deliver payouts connected to the value achieved per common share of the target company when a qualifying liquidity event takes place. These notes deliver economic participation while avoiding direct share ownership in the underlying company.
Qualified investors will have the capability to store the notes within self-custody wallets or execute trades on secondary markets continuously throughout the day and night. According to Ondo, the initial batch of notes is anticipated to begin trading within the current week, while additional products connected to enterprises operating in robotics, cybersecurity, biotech, infrastructure and various other industries are scheduled to launch subsequently.
The company's existing Ondo Stocks platform, which handles tokenized US stocks and exchange-traded funds, currently boasts over $1 billion in total value locked and provides access to more than 450 tokenized stocks and ETFs, based on information from the company.
Additional platforms have similarly advanced into the private markets space. Back in April, Robinhood's venture fund committed $75 million toward OpenAI common stock to provide retail investors with exposure via its publicly traded closed-end fund. Meanwhile, Citi was reported in June to be developing a blockchain marketplace designed for trading private-company shares.