NEAR Partners with Ondo to Launch 20 Tokenized US Stocks and ETFs

According to a report by Cryptonews on September 25, NEAR Protocol and Ondo Finance have launched tokenized US stock and ETF trading on (near.com), starting with an initial batch of 20, including NVIDIA, Tesla, Apple, Microsoft, Amazon, as well as SPY and QQQ. Eligible users can fund their accounts using over 30 network-supported stablecoins or other crypto assets. NEAR Intents serves as the cross-chain distribution layer, enabling similar assets to be routed to connected wallets and DeFi protocols in the future. Purchases are settled in USDon, which Ondo claims is backed 1:1 by US dollars in brokerage accounts, and transactions are completed via atomic swaps. This product is not available to U.S. persons. The Ondo platform as a whole has launched over 100 assets, with NEAR initially opening access to only one-fifth of them.