Ondo Finance launches tokenized stocks CRCLon and SPYon based on DTCC

According to the Ondo Finance blog, Ondo Finance has launched tokenized stocks CRCLon and SPYon based on DTC tokenized equities, with the underlying assets being Circle (CRCL) stock and the SPDR S&P 500 ETF (SPY), respectively. Ondo Finance connects to the DTC participant network via Alpaca Markets, with the underlying securities remaining within DTC's custody infrastructure, enabling a digital twin of traditional securities and on-chain assets. Ondo Finance is one of the institutions participating in the DTCC tokenization project, alongside BlackRock, JPMorgan, Goldman Sachs, Nasdaq, and the New York Stock Exchange.