Ondo Finance Partners BNB Chain for 100 US Tokenized Assets Ondo’s native token gains 24% in 24 hours

Ondo Finance has announced a significant partnership with BNB Chain to offer access to over 100 US-tokenized financial instruments, including mutual funds, ETFs, and top stocks. This collaboration aims to bring traditional financial products on-chain, allowing any crypto user to gain exposure to these assets within the blockchain ecosystem.

Nathan Allman, the founder and CEO of Ondo Finance, highlighted the importance of this partnership, stating that expanding Ondo’s tokenized stocks and ETFs to BNB Chain marks a major milestone in their mission to bring financial markets on-chain. He emphasized that BNB Chain’s vibrant ecosystem and global reach make it an ideal partner for building institutional-grade on-chain capital markets.

BNB Chain, one of the most widely used blockchain networks, will support Ondo’s suite of tokenized assets, including over 100 US stocks, ETFs, and funds. This initiative allows users to interact with digital representations of recognized US ETFs and stocks, which are backed by real-world assets. This development offers seamless access for investors looking to diversify beyond cryptocurrencies while remaining within the blockchain world.

With this collaboration, BNB Chain officially joins the Global Markets Alliance, a group comprising top exchanges, wallets, infrastructure providers, and custodians focused on bringing traditional assets on-chain. This partnership is expected to simplify access to US equities for users within the Binance ecosystem, requiring only a smartphone and a cryptocurrency wallet to invest in tokenized shares of leading companies like Tesla and Apple, or exchange-traded funds.

The move has sparked interest in Ondo’s native token, which has been struggling to reclaim the $1 mark since early March declines. The native coin changed hands at $0.9220 with a brief 24-hour gain. Popular analyst Ali Martinez expects continued gains to $1.60, translating to an over 40% surge from the current price. According to Ali, ONDO has broken out of a descending triangle, confirmed by a daily close above $0.87. This move projects a potential target of $1.60.

However, buyers should keep ONDO above the triangle’s top trendline and reclaim $1 to support short-term rallies. Potential resistances are at $1.01, $1.18, and $1.35. Overcoming these obstacles might propel prices to the $1.60 – $1.80 range. Broad market sentiments might also influence ONDO’s price trajectory in the coming sessions.