Ondo's stock tokenization platform Ondo Global Markets exceeded 25 million dollars in volume on its first day.

Strictly speaking, Ondo Global Markets is a market for the issuance of tokenized stocks open to compliant users, so the platform's volume is actually the trading of minting + redeeming stock tokens. Additionally, although there were tens of millions of dollars in volume on the first day, there were actually only a few dozen independent addresses trading in it, mainly estimated to be some market makers.

As an issuing platform, compliant users mint stock tokens by buying on the platform and destroy stock tokens by selling. During this process, although users use USDC as the trading pair, it will be exchanged for Ondo's stablecoin USDon for operations. Additionally, stimulated by the trading of stock tokens, 55.75 million USDon were minted in just one day yesterday, accounting for more than half of the total.

Although the platform requires compliance, Ondo's stock tokens can circulate freely on Ethereum. However, there is currently no DEX liquidity, and it is uncertain whether liquidity pools will open after migrating to Solana and BSC.

Finally, it is worth mentioning that the tokens with the highest minting on the first day of purchase are mainly ETF tokens, particularly the iShares series under BlackRock. Currently, there are 7 Ondo stock tokens with over $1 million AUM, of which 6 are ETF tokens, and the iShares series includes 5. This may also become a feature that sets Ondo apart from other similar platforms.