Openmarkets and Ondo partner on Australian tokenised finance products

Openmarkets Group and Ondo Finance have signed a memorandum of understanding to explore bringing Ondo’s institutional-grade tokenised financial products to eligible Australian investors and developing new tokenised products for the Australian market.

The collaboration combines Ondo’s global tokenisation capabilities with Openmarkets’ local market expertise and financial infrastructure, initially focusing on Australian distribution and product development. Two key workstreams will guide the partnership: assessing pathways for Openmarkets to distribute selected Ondo products to eligible Australian investors, subject to regulatory requirements, and exploring tokenised products and market infrastructure tailored to Australia, including tokenised Australian-listed securities and access to offshore tokenised markets.

Dan Jowett, Openmarkets chief executive, said the partnership leverages Ondo’s technology platform alongside Openmarkets’ local expertise to create compelling tokenised products for Australian investors. In a 14 September announcement, Jowett stated: “We’re delighted to collaborate with Ondo, a trusted on-chain finance global leader, to bring its world-class suite of tokenised products to local investors and explore new tokenised offerings. Tokenisation is already transforming Australia’s financial services industry and improving the way local participants access, transact, and hold assets. As a licensed broker and fintech with a deep market footprint, Openmarkets is uniquely positioned as an infrastructure provider and distributor of digital products.”

Min Lin, Ondo Finance managing director of global business development, described the collaboration as part of the company’s ambition to expand its tokenised products beyond the US. “Australia is a natural next step in Ondo’s global expansion. Openmarkets brings deep local market expertise and established financial infrastructure, creating a compelling pathway to explore how Ondo’s institutional-grade tokenised products can reach eligible Australian investors. Together, we aim to connect one of the Asia-Pacific region’s most sophisticated capital markets with the global on-chain economy.”

Openmarkets already holds core authorisations to enter the tokenised products market, including participation in the ASX, Cboe, and NSX, alongside an Australian Financial Services Licence and registration as a virtual asset service provider with AUSTRAC. This regulatory framework supports its strategy to expand into Australia’s emerging tokenised markets, where forecasts predict the global tokenised asset market could reach $16 trillion by 2030.

The collaboration marks the latest step in Openmarkets’ plans to integrate digital assets into its brokerage, clearing, settlement, and wealth management services, extending its regulated infrastructure into Australia’s growing tokenised finance sector.