Crypto wallet MetaMask integrated the Ondo Global Markets platform, giving users access to tokenized shares of U.S. companies, exchange-traded funds (ETF), and commodity assets directly on-chain, without the involvement of traditional brokers.
The MetaMask team, behind the self-custodial crypto wallet, announced the integration of the Ondo Global Markets blockchain platform for trading tokenized assets from Ondo Finance. The initiative will allow MetaMask users to access more than 200 tokenized securities built on Ethereum.
The new functionality will be available only in the MetaMask mobile app at launch. However, by the end of February, the company plans to extend support to the desktop version and the browser extension. Access to the platform will be strictly restricted for users from the United States, Canada, the United Kingdom, and certain countries of the European Economic Area, around 30 jurisdictions in total. These restrictions will be enforced using geolocation mechanisms, including IP address detection.
Through the built-in Ondo Global Markets functionality, MetaMask users in supported jurisdictions will be able to access:
- shares of Tesla, NVIDIA, Apple, Microsoft, and Amazon;
- exchange-traded funds (ETF) tracking the price of gold (IAU), silver (SLV), and the Nasdaq-100 index (QQQ).
The purchase and trading of tokenized assets will be carried out via the MetaMask Swaps service. Users will be able to exchange the USDC stablecoin for Ondo Global Markets (GM) tokens, which track the value of the underlying asset at a 1:1 ratio, subject to platform fees and terms. Trading will be available 24 hours a day, five days a week. All transactions will be conducted without the need to open specialized brokerage accounts.
According to Joe Lubin, Founder and CEO of Consensys, the company behind MetaMask, access to U.S. financial instruments is still based on outdated systems. He noted that the direct integration of tokenized assets into MetaMask will open access to traditional assets for a wide range of users without intermediaries.
Previously, the MetaMask team announced the launch of the native dollar-pegged stablecoin MetaMask USD (MUSD) and the release of the premium metal crypto card MetaMask Metal. The wallet’s developers also automated a system of security breach alerts during transactions.
