Ondo Unveils Private Markets Platform With Pre-IPO AI Exposure

Key Takeaways

• Ondo Finance launched a private-markets platform offering tokenized notes tied to pre-IPO AI equity.
• Tokenized notes provide economic exposure without share ownership or shareholder rights.
• Access is restricted to qualified non-U.S. investors in permitted jurisdictions.

Ondo Finance announced Ondo Private Markets on October 6 to introduce tokenized exposure to private companies, starting with an artificial intelligence business that has not yet gone public.

The first pre-IPO AI company is expected to begin secondary trading this week, with robotics, cybersecurity, biotech, and infrastructure names to follow, the company said in a statement.

The platform will offer tokenized notes tied to the per-share value of selected private companies at qualifying liquidity events. The notes are freely transferable and composable onchain, meaning they are obligations of their issuer.

The company clarified that the notes do not represent shares in the underlying company or grant ownership or shareholder rights.

Read More: What Are Tokenized Money Market Funds and Why Do They Matter Now?

AI Exposure With 24/7 Trading

Ondo says eligible investors can trade the notes 24/7 on secondary markets. This allows them to adjust or exit positions before the referenced company goes public.

Investors can hold the tokens in their own wallets and transfer them to other qualified holders. The tokens are also designed to work within decentralized finance applications, the company says.

Access is limited to eligible non-U.S. investors in permitted jurisdictions. The company prohibits U.S. persons and people placing buy orders from within the United States from acquiring the tokens, the announcement says.

Ondo Expands Its Tokenization Business

Acting CEO and President Ian De Bode said the platform aims to broaden access to companies that remain outside public markets.

“In the US, the majority of the investment options accessible for retail are public companies, yet 87% of companies with over $100m in revenue are private. That’s where many of the leaders defining the next era of our economy are emerging, and retail investors can’t access them today. Ondo Private Markets is built to change that, bringing tokenized exposure to the world’s best companies with 24/7 trading on permissionless rails,” said Ian De Bode.

The launch extends Ondo’s broader push into tokenized stocks and U.S. Treasuries. In July, the company partnered with Japan’s SBI Holdings to tokenize Japanese equities, The Block reported.

The product offers economic exposure through tradable notes while preserving the distinction between token ownership and direct company equity.

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