Latest news with #NathanAllman
Yahoo
5 days ago
- Business
- Yahoo
Wall Street 2.0: What stablecoins did for the dollar, Ondo is doing to capital markets
Wall Street 2.0: What stablecoins did for the dollar, Ondo is doing to capital markets originally appeared on TheStreet. The old system still sleeps. Closes on weekends. Clears trades in days. Moves money in loops and calls it 'settlement.' A slow maze of custodians, paper trails, and batch processors dressed up as modern finance. Everyone nods. No one questions the lag. It's a scaffold of rules and rituals. Stitched together by inertia, policy, and trust in institutions that forgot how to earn it. Then stablecoins exposed the whole thing. They didn't just digitize the dollar, they outperformed it. Moved faster. Worked harder. Never closed. The result? A $230 billion asset class, foundational to crypto and leaking into TradFi like a quiet virus. A dollar that didn't need permission. Nathan Allman, founder and CEO of Ondo Finance saw it early. The Markets aren't built for a world that never closes. 'The financial system wasn't designed for the world we live in—it was stitched together over centuries,' he wrote. 'It's a patchwork of middlemen, paper trails, and private databases.' 'We have global investors, 24/7 assets, and programmable money. But the infrastructure they run on is still built around banking hours.' 'That's the disconnect we're addressing.' OUSG isn't a whitepaper. It's a pipeline. It wraps short-term U.S. Treasuries into a tokenized instrument that behaves like software. Internet-native yield. Real-time liquidity. Fully composable. It's not trying to be flashy. It just works. This isn't a concept. It's already in motion: -$1.3 billion in Treasuries tokenized between OUSG and USDY -BlackRock's BUIDL sits around $2.9b -Franklin Templeton's fund holds roughly $752b The total tokenized RWA market has surpassed $7 billion and it's no longer just theory. It's becoming standard infrastructure. 'Our approach is simple,' Allman says. 'Tokenize high-quality, yield-bearing assets. Wrap them in code. Make them programmable. Make them liquid.' 'What we've seen with OUSG is that institutions want the yield of Treasuries, but they also want the speed and composability of crypto. We're giving them both.' Earlier this month, Ondo integrated PayPal's PYUSD, bridging Treasuries and a major fiat-backed stablecoin. The result? Investors can now convert between sovereign debt and digital dollars instantly, on-chain. No wires. No waiting. Just finality. 'Finance is built on conversions,' Allman said in a recent statement. 'If you can't convert between assets instantly, at scale, you don't have real liquidity—you just have accounting entries.' The ambition isn't subtle. 'What stablecoins did for the dollar, Ondo will do for capital markets.' Not a tagline. A declaration of intent. Stablecoins cracked one flaw. Dollars couldn't function online. The rest of finance never caught up—yield markets, settlement logic, compliance theater—all still trapped in a paper-era fantasy of how money's supposed to move. Ondo's rewriting the stack—liquidity without pause, compliance baked into the logic, capital that moves like it forgot friction was ever a thing. 'We're not trying to create parallel universes,' Allman says. 'We're building bridges—between legacy finance and programmable finance.' The world is catching on. The World Economic Forum, Citi, and Bank of America all estimate tokenized assets could hit $5–10 trillion by 2030 Ondo isn't projecting it. Ondo is routing it. 'We're not here to disrupt,' Allman says. 'We're here to rebuild. The rails. The flow. The logic of how capital moves.' Ondo isn't projecting it. Ondo is routing it.' Most people can't move money without a delay. They can't see all their assets in one place. They can't borrow against U.S. Treasuries unless they're already rich or plugged in. Meanwhile, the machinery is unmistakably antiquated—batch processes, blind spots, and rails built for a slower world Wall Street 2.0: What stablecoins did for the dollar, Ondo is doing to capital markets first appeared on TheStreet on May 30, 2025 This story was originally reported by TheStreet on May 30, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
19-05-2025
- Business
- CNBC
JPMorgan and Ondo Finance team up to bring bank payment rails to tokenized asset markets
Nathan Allman, founder and CEO of Ondo Finance, discusses a new partnership with JPMorgan's blockchain unit at Consensus 2025 in Toronto.
Time of India
17-05-2025
- Business
- Time of India
World leader in digital assets? Toronto emerges as a global blockchain hotspot as Canada's steady crypto rules outpace America's political gridlock
While US legislators are stuck in regulatory gridlock, Canada has quietly established itself as a world leader in cryptocurrency and blockchain technology, and Toronto as a hub of innovation, as per a report. Canada's Head Start on Crypto Regulation According to CNBC, Canada was one of the first countries to enact rules for crypto, by starting with anti-money laundering guidelines in 2014 and then it has consistently updated its regulatory guidance. Toronto Becomes a Crypto Launchpad CNBC wrote that the "regulatory clarity has made Toronto a launchpad for blockchain growth." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Live Comfortably: 60m2 prefabricated bungalow for the elderly in Libertad Pre Fabricated Homes | Search Ads Search Now Undo Companies are now seeing an opportunity in Canada, with American financial services company Robinhood's recent acquisition of Canadian crypto firm WonderFi, which is the owner of Bitbuy and Coinsquare, to get access to Canada's established user base, reported CNBC. ALSO READ: What led to Moody's downgrading the U.S. credit rating to Aa1, first time in over a century? Here are the reasons the agency cited and why Americans should be worried Live Events Robinhood's crypto chief, Johann Kerbrat highlighted that, 'Canada is a very attractive market for us,' adding, 'It's projected to be more than 30 million users using crypto here in Canada, with revenue projections of about $900 million in 2025,' as quoted in the report. Major Announcement at Consensus 2025 in Toronto During Consensus 2025 in Toronto, which is one of the globe's bigest crypto conferences, JPMorgan, Ondo, and Chainlink revealed to bet $100 billion on blockchain with a new platform to tokenize real-world assets, according to CNBC. Ondo Finance CEO Nathan Allman said that, 'It's really the first time that there's been this interoperability between a bank's permissioned blockchain environment and a public blockchain,' quoted CNBC. ALSO READ: Moody's downgrades U.S. rating from AAA to Aa1; what are the consequences of this move, and will the economy be affected? Here are all the details Both Ondo and Chainlink said that, the new offering will allow treasuries to be tokenized and settled using blockchain, combining JPMorgan's Kinexys Digital Payments network with Ondo's blockchain infrastructure, reported CNBC. FAQs Why is Canada suddenly seen as a crypto leader? Because it started regulating crypto as early as 2014 and has provided consistent, clear rules that make it easier for companies to grow. How has Robinhood entered the Canadian crypto market? Robinhood acquired WonderFi, a Canadian crypto firm, giving it access to platforms like Bitbuy and Coinsquare.
Yahoo
15-05-2025
- Business
- Yahoo
Ondo Finance enables 24/7 conversions between OUSG and PayPal USD
Ondo Finance has launched 24/7 instant conversions between its tokenized Treasury product, OUSG (Ondo Short-Term US Government Treasuries), and PayPal USD (PYUSD), the stablecoin issued by Paxos and available via PayPal and Venmo. The update allows users to seamlessly mint OUSG using PYUSD and redeem it back to PYUSD anytime, offering greater liquidity for OUSG holders and boosting the real-world utility of PayPal's stablecoin. The $25 million conversion facility is one of the largest of its kind between a stablecoin and tokenized money market fund. 'Enabling OUSG and PYUSD conversions broadens the range of trusted, high-quality settlement options available to our clients,' said Nathan Allman, CEO of Ondo Finance. 'We're thrilled to deepen our relationship with PayPal and play a leading role at the intersection of traditional finance and DeFi.' The launch is part of Ondo Nexus, the firm's tech platform that supports instant liquidity for tokenized Treasury issuers. With this system, holders of tokenized Treasuries — including those offered by other issuers — will be able to redeem their assets instantly for stablecoins like PYUSD. OUSG remains Ondo's flagship product with over $525 million in total value locked. It offers 24/7 redemptions with no fees, daily interest accruals, and multi-chain support on Ethereum and Solana. The fund is backed by high-quality assets, including BlackRock's USD Institutional Digital Liquidity Fund (BUIDL), Franklin Templeton's OnChain U.S. Government Money Fund, WisdomTree's Digital Government Money Market Fund, and FundBridge Capital's Ultra Short Treasury On-Chain Fund. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-05-2025
- Business
- Yahoo
JP Morgan unit joins forces with Ondo, Chainlink to execute landmark settlement
Kinexys by JP Morgan, the Wall Street giant's blockchain business unit, has partnered with Chainlink and Ondo Finance to successfully execute the first cross-chain, atomic Delivery versus Payment (DvP) test transaction on May 14. While Chainlink is the standard for on-chain finance, Ondo Finance is a prominent platform for real-world asset (RWA) tokenization. The debut transaction involved the Ondo Short-Term U.S. Treasuries Fund (OUSG), Ondo's tokenized asset offering exposure to short-term US Treasuries. It utilized the permissioned Kinexys Digital Payments network in tandem with Chainlink's cross-chain orchestration infrastructure. Ondo Chain, the newly launched layer-1 testnet built especially to scale RWA tokenization, also facilitated its debut transaction with this step. DVP is a settlement method in the securities market that guarantees the transfer of securities only happens after payment has been made. It is estimated that payment and settlement failures have cost market participants at least $914 billion, as per the statement. Leveraging blockchain technology can help facilitate the simultaneous on-chain exchange of assets and payments across parties and reduce counterparty and settlement risks. "The demonstrated cross-chain solution is a testament to what can be achieved through strong collaboration across diverse segments of the Web3 ecosystem, and we are pleased to have worked with Ondo and Chainlink to bring this to life as the first transaction on Ondo Chain testnet," Kinexys' head of platform settlement solutions, Nelli Zaltsman, said. "The debut transaction on Ondo Chain's testnet with both Kinexys by J.P. Morgan and Chainlink isn't just a major milestone, it's a statement about the future of finance," Ondo Finance CEO Nathan Allman said.
