Here’s how Near Protocol and Ondo are setting new ground for crypto and tokenized trading
The tokenized Real-World Asset market is advancing in the US, marked by significant institutional moves and protocol innovations despite legislative hurdles. Earlier this year, the NYSE partnered with Securitize to develop tokenized securities infrastructure, while Nasdaq gained SEC approval to tokenize US securities from the Russell 1000 Index and selected funds, signaling a shift towards tokenized stocks. Although the Digital Asset Market Clarity Act failed in the US Senate on September 15, the SEC swiftly introduced an "Innovation Exemption," providing a five-year conditional path for selected exchanges to trade tokenized US stocks. In this evolving landscape, Near Protocol and Ondo are emerging as key players. Near Protocol's multichain transaction pool, NEAR Intents, offers confidential perpetuals and, in partnership with Ondo, access to tokenized US stocks and Treasury bills. Ondo, identified as a leading provider by rwa.xyz, reported a distributed asset value of approximately $3.87 billion as of September 30, reflecting a 9.35% increase in 30 days, with 460 tokenized assets and over 515,000 holders. NEAR Intents also recorded a Confidential Total Value Locked of $156.43 million on September 29, showcasing strong inflows. These platforms, while employing strict KYC, are actively closing the gap between traditional and crypto markets by offering faster settlement and robust security features, including intercepting a $50 million money-laundering attempt. The ongoing developments highlight a growing demand for tokenized assets even as legislative clarity remains uncertain.
