11 Sept 2025

Tokenized Stocks: The $100 Trillion Onchain Shift | Ondo Finance Ian De Bode & Nathan Allman

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Bankless

In this episode of Bankless, Ryan Sean Adams and David Hoffman interview Nathan Allman, founder and CEO, and Ian De Bode, chief strategy officer at Ondo Finance, about tokenized securities, specifically equities, and real-world assets. The discussion covers the growth and inevitability of tokenized assets, comparing them to stablecoins and highlighting the inefficiencies of traditional finance. They delve into the mechanics of tokenized treasuries and stocks, discussing the wrapper versus native tokenization debate, liquidity, permissionlessness, and property rights. The conversation also explores the role of different blockchains, including Ethereum and Ondo's own L1, in the tokenization ecosystem, and touches on the potential for DeFi integration and the future of capital markets.

Outlines

Part 1: Introduction to Tokenized RWAs

Part 2: Tokenized Securities and Ondo's Approach

Part 3: Permissionless Innovation and Blockchain Selection

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