Coinbase-backed Ondo Finance opens Asia Pacific office, ONDO surges 73%.
Ondo Finance, backed by Coinbase, is expanding into the Asia Pacific, capitalizing on the 73% weekly increase of the ONDO token. The company opened its first APAC office and appointed Ashwin Khosa as its VP of Business Development for the region. The strategic move targets Ondo's leading position in tokenized securities, APAC's digital asset boom.
Ondo Finance, a prominent American issuer of tokenized securities backed by Coinbase, is making headlines with its strategic expansion into the Asia Pacific region.
This move comes amid an impressive 73% weekly increase in the value of the ONDO token, demonstrating the growing influence of the platform. The company's entry into the dynamic APAC market is poised to capitalize on the region's strong demand for digital assets, thriving crypto community and evolving regulatory framework.
Ondo Finance's footprint in the Asia Pacific
As Ondo Finance officially announces its strategic expansion into Asia Pacific, it has announced the opening of its first office in the Asia Pacific region, marking a calculated move to tap into the growing digital assets craze.
Although the specific location was not disclosed, the company's founder and CEO, Nathan Allman, expressed enthusiasm for the expansion. He highlighted the active and rapidly growing crypto community in the Asia Pacific, emphasizing the attractiveness of the Ondon token's exposure to US assets.
To lead this strategic move, Ondo Finance has enlisted the expertise of Ashwin Khosa as Vice President, Business Development, Asia Pacific. With experience in institutional business development in Hong Kong, Kosa brings valuable insights into chain finance and the Asia Pacific market.
This expansion fits seamlessly with Ondo's dominance, boasting about 40% of the global market share. The platform's three core token products—OUSG, OMMF, and USDY—allow global investors to access key U.S.-based asset classes in a tokenized format.
ONDO token price movement
The expansion into Asia Pacific comes on the heels of an impressive 73% weekly increase in Ondo Finance's Ondo token price. At press time, ONDO was trading at $0.2812, up 3% in 24 hours.
ONDO price chart
This increase reflects confidence and interest in the platform and its branded offerings.
Ondo Finance is shaping its future landscape through strategic partnerships. Of particular note is the partnership with Mantle Network and Solana, emphasizing the collaborative effort to bring USDY to their own blockchain networks.
In addition, recent announcements by the Ondo Foundation, including a points program and proposal to launch the Ondo Token, further underline the platform's commitment to advancing on-chain financing and expanding its global impact.
