Tokenized Finance Expansion
Ondo and Openmarkets Partner to Explore Tokenized Finance Expansion in Australia
Anonymous
Key Points
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Openmarkets is a participant on the ASX, Cboe and NSX, holds an Australian Financial Services Licence and is registered on AUSTRAC’s Virtual Asset Service Provider Register—credentials it presents as a foundation for entering tokenized products.
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The potential product scope includes local distribution of Ondo Stocks as well as tokenized U.S. Treasury offerings, alongside possible tokenized securities listed on Australian exchanges.
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Openmarkets CEO Dan Jowett said the partnership could bring Ondo’s tokenized products to local investors and support new Australian offerings, describing tokenization as already transforming how market participants access, transact and hold assets.
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The initiative extends Openmarkets’ existing digital-asset expansion across its brokerage, clearing, settlement and wealth-management businesses, rather than representing a standalone technology project.
Ondo Finance and Australian financial services firm Openmarkets Group signed a memorandum of understanding to explore tokenized finance opportunities in Australia. The deal would bring Ondo's tokenized products—including U.S. Treasury offerings—to eligible Australian investors while examining how to tokenize local securities listed on the ASX. Openmarkets would provide local regulatory expertise and market access, while Ondo contributes its blockchain-based financial technology.
The agreement is exploratory and does not guarantee a product launch. Any offerings would require definitive agreements, regulatory approvals and full due diligence. Openmarkets CEO Dan Jowett said the partnership could bring Ondo's products to local investors and support new Australian tokenized offerings, noting that tokenization is already transforming how people access and hold assets.
What Openmarkets Brings to the Table
Openmarkets is a licensed Australian financial services provider with deep market infrastructure credentials. The firm is a participant on the ASX, Cboe and NSX exchanges, holds an Australian Financial Services Licence, and is registered on AUSTRAC's Virtual Asset Service Provider Register. These credentials position it as a local partner capable of navigating Australia's regulatory requirements for tokenized products.
Tokenized Products Heading to Australia
The partnership would distribute Ondo's existing tokenized U.S. Treasury offerings to eligible Australian investors. Ondo Stocks—tokenized versions of traditional stocks—would also become available locally. Beyond distribution of existing products, the companies plan to explore tokenizing securities already listed on Australian exchanges, creating a bridge between traditional markets and blockchain infrastructure.
Tokenization converts traditional financial assets into digital tokens on a blockchain, making them easier to trade 24/7 and split into smaller units. Ondo Finance has already become a major player in institutional tokenized finance, with its subsidiary recently joining the DTCC's Fund/SERV platform—the network handling 85% of U.S. mutual fund activity.
Connecting Australian Markets to Global Blockchain
The initiative aims to link Australia's traditional market infrastructure with global on-chain systems. Openmarkets would leverage its existing brokerage, clearing, settlement and wealth-management businesses to distribute Ondo's products rather than building a standalone technology platform. This integration approach allows Australian investors direct access to tokenized assets without recreating market infrastructure from scratch.
Still Early—Regulatory Approval Required
Both companies emphasized that the MOU is exploratory. Openmarkets and Ondo must still complete due diligence, negotiate definitive agreements, and secure regulatory approvals before launching any products. The partnership signals where institutional tokenized finance is heading, but Australian regulators will have final say on what can actually launch.
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