Ondo Finance TVL Surpasses $1 Billion Becoming Largest RWA Platform

Ondo Finance, a blockchain infrastructure provider for tokenized assets, has become the largest real-world asset (RWA) by market cap/total value locked (TVL) after surging by 57% in the past 30 days. Ondo’s $1.026 billion TVL means it controls 24% of the tokenized treasuries market, currently valued at $4.14 billion per RWA.xyz.

In an interview with The Defiant, Ian De Bode, Chief Strategy Officer of Ondo Finance, said, "Not only are we the market leader in total value locked for tokenized Treasuries, surpassing $1 billion, but Ondo Finance now accounts for over 80% of the market share by number of holders of tokenized Treasuries."

The recent growth within the Ondo Finance ecosystem is likely due to the launch of Ondo Nexus, an initiative designed to unlock instant liquidity for third-party issuers of tokenized treasuries. Ondo launched the initiative on Feb. 3, more than a month ago.

Token Rally

Ondo’s tokenized treasuries market cap is not the only thing surging, though. Its token price has increased nearly 20% in the past 24 hours, and its total value locked (TVL) also crossed $1 billion for the first time on Mar. 4, according to DeFiLlama data.

According to a March 5 X post, Ondo’s OUSG token, which offers exposure to short-term U.S treasuries, grew by over 61% to a $165 million market cap, while its USDY token, its permissionless yield coin grew by over 51% to $201 million.

“The tokenized US Treasuries market has surpassed $4B in size, according to @RWA_xyz—growth catalyzed by Ondo Finance’s market leadership. What stablecoins took four years to achieve, tokenized Treasuries achieved in two, demonstrating strong demand for safe, liquid, institutional-grade yield,” Ondo Finance said.