Ondo Global Markets (Ondo GM) tokenizes publicly-traded U.S. stocks and ETFs as ERC-20 assets, allowing investors outside the United States to mint, transfer, and redeem equity-backed tokens on Ethereum and soon other public blockchains. Each token represents direct exposure to the underlying asset, held with a regulated custodian through a licensed broker-dealer.
To support integration across the ecosystem, Ondo GM offers a suite of APIs designed for infrastructure providers such as wallets, exchanges, and fintech applications. These APIs and Smart Contracts support:
- Generating mint and redemption attestations to generate quotes that are fed to the Smart Contract layer.
- Real-time and historical price data for each Ondo GM asset.
- OHLC (Open, High, Low, Close) data to support charting, analytics, and historical views.
- On chain mints and redemptions that handle the core logic for minting and redeeming Ondo GM tokens.
The API layer provides high-performance access to essential pricing, quote generation, token lifecycle, and token contract metadata. Whereas the Smart Contract layer provides the ability to mint and redeem (buy/sell) the tokenized asset.
Here's the typical flow for Ondo GM, using TSLAon as an example:
Minting Process:
- Primary Purchaser requests a mint attestation from Ondo GM API.
- Primary Purchaser broadcasts transaction with the provided mint attestation signature along with a USD stablecoin (such as USDC) to the Smart Contract to atomically mint TSLAon to their whitelisted address.
Redeeming Process:
- Primary Purchaser requests a redemption attestation from Ondo GM API.
- Primary Purchaser broadcasts transaction with the provided redemption attestation signature along with TSLAon to the Smart Contract to atomically redeem TSLAon for a USD stablecoin (such as USDC) to their whitelisted address.