Ondo has introduced a new in-kind conversion system that allows approved institutions to mint and redeem tokenized stocks and exchange-traded funds using the underlying securities rather than cash, according to Cointelegraph. The system is designed to support direct conversion between eligible stocks or ETFs and their tokenized representations. Access is limited to approved institutional participants. The development relates to Ondo Finance and its ONDO token, although the supplied information does not specify any change to the token’s price, supply or market outlook. Ondo’s announcement focuses on the process for creating and redeeming tokenized assets while using the corresponding securities in the transaction.
Source
Cointelegraph
Written by Moneyiar based on reporting from the cited source and Moneyiar market data.
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