Industry Giants Form Alliance to Accelerate Onchain Finance

Ondo Finance has established the Global Markets Alliance with eight major cryptocurrency platforms including Solana Foundation and Bitget Wallet, marking a significant push toward mainstream adoption of tokenized financial assets. The newly formed coalition aims to develop interoperability standards for onchain capital markets, with participation from Jupiter Exchange, Trust Wallet, and institutional custodians like BitGo and Fireblocks.

RWA Pioneer Expands Ecosystem

The DeFi platform specializing in real-world asset tokenization recently unveiled a layer-1 blockchain designed for institutional-grade onchain assets. Ondo's treasury products backed by US government debt have attracted 【$1.4 billion】 in total value locked (TVL), more than doubling its assets under management within a year according to DefiLlama data.

——"This alliance creates critical infrastructure for bridging traditional finance with blockchain,"—— noted an industry analyst familiar with the initiative. The partnership comes as the tokenized RWA sector grows 260% year-to-date, with Binance Research valuing the market at $23 billion excluding stablecoins.

Market Expansion Strategies

Several crypto firms are racing to capture market share in the burgeoning RWA sector. Payment platform Alchemy Pay partnered with Backed to launch 55 tokenized US ETFs targeting restricted jurisdictions, while Robinhood is reportedly developing similar products for European investors alongside tokenized private credit offerings.

Interestingly, the growth coincides with improved US regulatory clarity and global demand for dollar-denominated assets. Tokenized private credit and Treasury bonds currently lead sector expansion, accounting for over 60% of non-stablecoin RWA volume according to market observers.

Technology and Adoption Synergy

Ondo's alliance members bring complementary capabilities - from Solana's high-performance blockchain to Bitget Wallet's 20 million+ user base. This convergence of infrastructure and distribution channels could address key adoption barriers like liquidity fragmentation and cross-chain compatibility issues that have hampered earlier tokenization efforts.

As of press time, at least three additional exchanges are in advanced talks to join the initiative, suggesting rapid ecosystem expansion may continue through Q3 2025. Market participants anticipate the alliance's technical standards could emerge as de facto industry benchmarks given its diverse membership spanning wallets, custodians and trading platforms.