- Openmarkets and Ondo Finance have signed an MOU to explore tokenised financial products for eligible Australian investors.
- The partnership will also assess new tokenised securities and infrastructure for Australia.
Openmarkets Group and Ondo Finance are exploring opportunities to bring tokenised financial products to eligible investors in Australia. The companies have signed a memorandum of understanding (MOU) covering product distribution and the development of new tokenised finance infrastructure.
The partnership brings together Ondo Finance’s experience in blockchain-based financial products and Openmarkets’ established presence in Australia’s financial markets. Their initial focus will be on distributing selected Ondo products and assessing opportunities to create products designed specifically for the Australian market.
Partnership Targets Australian Tokenised Products
Openmarkets and Ondo Finance will assess how selected Ondo products can reach eligible Australian investors. Openmarkets will distribute the products only after meeting all regulatory requirements and securing the necessary approvals.
The companies will also explore new tokenised products for Australia. These could include tokenised Australian-listed securities and ways for local investors to access tokenised markets outside the country.
Openmarkets CEO Dan Jowett said the partnership could combine Ondo’s technology with the company’s local market expertise to create new products for Australian investors.
He added that tokenisation is already changing Australia’s financial services industry by improving how market participants access, transact and hold assets.
Ondo Finance managing director of global business development Min Lin said Australia represents a natural next step in the company’s international expansion. He said Openmarkets’ local infrastructure could help Ondo expand access to its tokenised products among eligible Australian investors.
Openmarkets Expands Digital Asset Strategy
The agreement is part of Openmarkets’ broader plans to incorporate digital assets into its brokerage, clearing, settlement and wealth management services.
The company already operates as an ASX, Cboe and NSX participant under an Australian Financial Services Licence. It is also registered with AUSTRAC as a virtual asset service provider.
The move comes as the tokenised asset market is expected to expand significantly in the coming years. Industry forecasts cited in the announcement estimate that the global tokenised asset market could reach $16 trillion by 2030.
For Ondo Finance, the Australian partnership could provide another route for expanding its tokenised financial products beyond the US. For Openmarkets, it offers an opportunity to extend its existing regulated market infrastructure into Australia’s developing tokenised finance sector.
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