Ondo Finance Launches DTCC-Based Tokenized Securities for CRCL and SPY

Foresight News reports that, according to the Ondo Finance blog, the company has launched the first batch of tokenized stocks based on DTC Tokenized Entitlements, marking the first time tokenized stocks have been brought on-chain as digital twins of DTCC-custodied securities. The underlying assets include Circle (CRCL) stock and the SPDR S&P 500 ETF (SPY), with the on-chain tokens named CRCLon and SPYon, respectively. In terms of technical architecture, DTC generates tokenized entitlements for corresponding securities through DTCC's tokenization services, while Ondo connects to the DTC participant network via broker Alpaca Markets. The underlying securities remain entirely within DTCC's custody infrastructure, allowing flexible conversion between traditional and tokenized forms. With DTCC's tokenization services officially launching later this year, Ondo plans to expand this model, leveraging its global partner network (including exchanges, wallets, and DeFi platforms) to offer more asset varieties to on-chain investors. Ondo is also one of the institutions participating in DTCC's largest tokenization project to date, alongside other participants such as BlackRock, JPMorgan, Goldman Sachs, Nasdaq, and the New York Stock Exchange.