Ondo Finance said on Friday, January 23, that it has surpassed $2.5 billion in total value locked, becoming the largest onchain issuer of tokenized U.S. Treasuries and equities, according to company disclosures and onchain data.
This milestone represents an accelerated rate of adoption for real-world asset (RWA) tokenization products, with both institutional and international investors increasingly utilizing blockchain-based financial products in response to evolving macroeconomic environments.
Also Read: Ondo Finance Unlocks 200+ Tokenized Stocks and ETFs for Solana Users
Ondo leads the tokenized US Treasury market with a dominant $2B TVL. Ondo also leads the market in terms of size, with the largest market share.
Ondo generates revenue through the success of USDY, a permissionless, yield-generating, tokenized US Treasury, which now has over $1B TVL. It is a stablecoin, yields, runs on nine blockchains, and provides non-US investors on-chain access to US Treasury exposure globally.
In addition to USDY, Ondo’s flagship protocol OUSG has exceeded $770M in TVL, providing subscribers with 24/7 subscriptions and redemptions, daily interest accruals, low fees, and support across several chains (Ethereum, Solana, XRP Ledger, Polygon).
The funds come from tokenized portfolios of Fidelity, BlackRock, Franklin Templeton, WisdomTree, Wellington, and FundBridge, with State Street.
Apart from income instruments like fixed income, Ondo leads in tokenized equities with a share of more than 50% of tokenized stock TVL, outstripping all competitors combined. Following its September 2025 launch of Ondo Global Markets, it has now grown to have more than $500M TVL across 200+ stocks with tens of thousands of holders and $7B+ in trading volume.
Founded to unlock institutional-grade finance on-chain, Ondo tokenizes assets to increase access, transparency, and efficiency. Enabling a bridge between traditional and decentralized finance, it supports tokenized Treasuries and equities across Solana, Ethereum, and BNB Chain. Large wallets, exchanges, and DeFi have RWAs as their best shot at strong real-world usage globally.
Following the platform’s TVL milestone, market participants are closely monitoring ONDO, the protocol’s native governance token.
According to TradingView data as of January 23, The ONDO chart indicates a strong sell-off around the time frame of Jan 18-19, where the price dropped significantly from the 0.38-0.36 range to the lower 0.33 range.
After that, the price started consolidating, forming higher lows. The recent rise to 0.356 indicates a stable situation, where 0.33-0.34 is a support range, while 0.36 is a near-term target.
Source: TradingView
The momentum indicators also confirm the presence of the recovery phase. RSI is close to the level of 57, rising significantly from the signal line.
MACD is also bullish, as can be noted from the presence of the histogram and the distance between the two lines. Although the momentum is rising, the movement is still considered to be corrective in the long term.
Ondo Finance’s $2.5B TVL milestone highlights growing trust in tokenized real-world assets as a scalable bridge between traditional finance and onchain markets.
Rising adoption of tokenized Treasuries and equities signals increasing institutional and global investor demand for transparent, yield-generating blockchain-based financial products.
Also Read: Ondo Finance Cross-Chain Expansion Supports ONDO Price Rebound to $1.50
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