Ondo Finance launches CRCLun and SPYon tokenized stocks based on DTCC

According to the Ondo Finance blog, Ondo Finance has launched tokenized stocks CRCLun and SPYon based on DTC tokenized equity, with underlying assets of Circle (CRCL) stocks and SPDR S&P 500 ETF (SPY). Ondo Finance connects to the DTC participant network through Alpaca Markets, with underlying securities retained within the DTC custody infrastructure, achieving a digital twin of traditional securities and on chain assets. Ondo Finance, as one of the institutions participating in the DTCC tokenization project, was among the same group of participants including BlackRock, JPMorgan Chase, Goldman Sachs, Nasdaq, and the New York Stock Exchange.