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According to The Defiant, Ondo Finance's perpetual contract platform Ondo Perps has launched spot trading for 12 tokenized stocks and ETFs. Traders can buy related tokenized assets and use them as collateral to open short perpetual contract positions. Ondo Perps also announced that there will be no spot trading fees for the first 30 days after the launch of spot trading.

The London-listed technology company The Smarter Web Company has allocated 2,710,442 shares of common stock according to the terms of the subscription agreement.The total amount raised from this allocation is £1,891,933 (before expenses), equivalent to approximately £0.7 per share, and the company will receive about 98.25% of the funds as settlement. The remaining balance of common stock that has not been allocated under the subscription agreement is 41,213,788 shares.

According to three informed sources, the real-world asset tokenization platform Ondo Finance was recommended to potential buyers after founder and CEO Nathan Allman passed away this year. Two sources stated that the relevant contacts occurred after Allman died on May 25. However, it remains unclear who is driving the sale of Ondo Finance.In early August, Allman's estate management filed a lawsuit against Ondo's acting CEO Ian De Bode, accusing him of illegally seizing control and funds of the company, leading to a fierce battle for corporate control. Allman, who died at the age of 32 without a will, left uncertainty regarding the ownership of his controlling shares and a large number of ONDO tokens. After the probate process, his estate was awarded to his parents, Kathleen Allman (77) and Lawrence Allman (82). According to the current court order, De Bode continues to serve as CEO and is responsible for daily operations, but he is not allowed to make significant changes to the company until the control dispute is resolved. One informed source stated that the escalating control litigation is likely to put any sale plans on hold.An Ondo spokesperson denied that the company was seeking buyers, stating that the claims regarding a potential sale are completely false, and that no one in the company has pushed for a sale, participated in sale negotiations, or requested others to do so on their behalf. Ondo was founded in 2021 by former Goldman Sachs executives, is headquartered in New York, and offers tokenized U.S. Treasury bonds and stocks, with product scale exceeding $3.8 billion.

Ondo Finance has launched a new category of on-chain products, Ondo Intelligent Portfolios, which presents curated investment portfolios through a single transferable on-chain token. The first three portfolio tokens are constructed based on BlackRock's customized portfolio strategies for Ondo, allowing qualified investors in eligible jurisdictions outside the United States to gain relevant economic exposure through a single token.Traditionally, diversified, professionally constructed investment strategies typically required access through brokerage accounts and traditional fund structures. Now, these portfolios can be accessed through peer-to-peer transferable tokens issued by Ondo, available in users' existing wallets, exchanges, and DeFi applications, and support automatic rebalancing via smart contracts, programmable integration with the broader on-chain economy, and the combination of multiple asset classes within a single token.The three strategies are BLKHIon (High Yield), BLKDIGon (Diversified Growth), and BLKGRWon (High Growth). Holding the tokens provides economic exposure to the underlying asset baskets; each product is issued by Ondo Global Markets and tokenized by Ondo Finance. Investors only need to mint or redeem a single token to hold tokenized assets with weighted allocations, with positions, weights, and rebalancing visible on-chain in real-time.Lisa O'Connor, Head of Global Model Portfolio Solutions at BlackRock Multi-Asset Strategies, and Co-Chief Investment Officer of Global Solutions, stated that tokenization provides a new digital delivery pathway for portfolio strategies; Ian De Bode, Acting CEO and President of Ondo Finance, mentioned that such portfolios have never appeared on-chain before. Ondo plans to continue expanding this product line in the future.

According to data from RWA.xyz, the current tokenized stock protocols exhibit diverse characteristics in terms of asset management scale and the richness of underlying assets.In terms of asset management scale, the top five platforms are Ondo (approximately $882 million), bStocks (approximately $754 million), xStocks (approximately $576 million), Securitize (approximately $424 million), and Bitget's RWA protocol Reality (approximately $162 million).Additionally, in terms of the breadth of underlying assets covered, Reality currently supports 2,160 stocks and ETFs, making it the protocol with the most underlying assets in this sector. xStocks and Dinari follow with 1,028 and 692 underlying assets, respectively.

According to Bloomberg, the UK digital bank Revolut launched the UK's first facial recognition checkout system "Pay with Smile" on September 23, allowing customers to complete payments in-store through facial recognition.This feature operates on the Revolut Register terminal, where users can complete facial identity verification by clicking "Pay with Smile" on the screen during checkout, a process similar to unlocking a smartphone or accessing a banking app. Facial data is end-to-end encrypted, merchants do not store personal data, and users must actively choose to opt-in in the Revolut app settings, with the ability to withdraw consent at any time. Revolut charges a 0% processing fee for Pay with Smile transactions to alleviate the burden on independent merchants.The pilot will take place from September 24 to 26 at three Kiss the Hippo cafes in Bloomsbury, Chelsea, and Soho in London, with plans to roll out the feature to all 12 locations later this year. Sales promotion for the Revolut Register terminal will be launched at the appropriate time.

According to PR Newswire, NEAR unified front-end application near.com announced a partnership with the global stock tokenization platform Ondo Finance. Eligible users can purchase, trade, and hold tokenized U.S. stocks and ETFs through a single near.com account without the need to open a separate brokerage account. This integration supports NEAR Intents, enabling cross-chain routing and confidential execution.The Ondo tokenized securities platform currently has over $1 billion in locked value and a cumulative trading volume exceeding $26 billion. Users can access tokenized NVIDIA, Tesla, Apple, and ETFs like QQQ across more than 30 networks using assets such as USDC and Bitcoin.Defuse Labs CEO Alex Shevchenko stated that bringing financial markets on-chain should give people more control over their funds. Ondo Finance ecosystem head Armand Khatri mentioned that NEAR Intents allows near.com users to hold tokenized assets without needing a separate brokerage account. Ondo's tokenized stocks and ETFs are not offered to jurisdictions that prohibit them, such as the United States and Canada, and tokenized assets provide economic exposure to the underlying securities without conferring ownership.

Ondo announced that, starting today, approved institutions can mint Ondo Stocks using their existing shares through Alpaca's Instant Tokenization Network. This feature provides institutions with a direct path from existing stock inventories to the on-chain market and is currently live on Ethereum and BNB Chain.Institutions can mint Ondo Stocks using the underlying shares and can also redeem the tokens to reclaim the shares. This physical conversion is built on the Ondo Stocks instant liquidity model, serving as a new pathway beyond cash transactions.

Stimulated by the new exemption policy for tokenized stocks introduced by the U.S. SEC last night, the related beneficiary concept coins and stocks continue to rise.According to Gate market data, UNI is currently priced at $7.86, with a 24-hour increase of 18%; ONDO is priced at $0.3779, with a 24-hour increase of 7.39%; BP is currently priced at $0.533, with a 24-hour increase of 14.48%.Additionally, according to Gate market data, in terms of stocks, Securitize closed up 14.93%, priced at $8.93, and Robinhood rose by 5.16%.

Nathan Allman, the founder of Ondo Finance, suddenly passed away in May this year at the age of 32 without leaving a will. His parents, Kathleen Allman and Lawrence Allman, inherited the estate, including a controlling stake in Ondo and a large number of ONDO tokens. Subsequently, Kathleen Allman sued acting CEO Ian De Bode, accusing him of attempting to seize control of the company and arranging a compensation package of approximately $11 million for himself.Now, this inheritance crisis has escalated further. Nathan's half-sister, Lani Clinton, a medical professor at Duke University, along with Ondo investor David Chen, has applied to the Hawaii court for limited oversight of Kathleen Allman's share of the estate, accusing her of having a long-term alcohol use disorder and progressive cognitive impairment, as well as engaging in extravagant behavior. Documents show that Kathleen had purchased a yacht worth about $4 million, requested the company to cover six-figure charter costs, and stayed at hotels costing about $4,000 per night. Her son also purchased a $18.5 million beachfront residence for his parents in June 2025.Kathleen Allman, through her lawyer, denied the above allegations, stating they are unfounded, and claimed that the application was made by associates of De Bode, representing a last-ditch effort after his attempt to seize power in the Delaware Chancery Court failed. Ondo Finance declined to comment.

Ethereum Institutional announces the relaunch of the Ethereum Institutional Forum, a curated series of closed-door events aimed at senior institutional participants and leading voices in the Ethereum ecosystem. The forum was initially launched during the Ethereum Foundation and has been held in Hong Kong and New York. It returns as a dedicated series designed to provide a trustworthy and neutral environment to understand the direction of Ethereum technology and its commercial implications.EIF III will be held on November 12 in London, bringing together banks, asset management companies, market infrastructure, and ecosystem leaders including Ethereum researcher Justin Drake. Topics include the Ethereum technology roadmap, post-quantum security, native issuance, and the role of Ethereum as on-chain financial infrastructure.

Ondo Finance announced that its subsidiary Oasis Pro Markets has joined the Fund/SERV platform under the U.S. Depository Trust & Clearing Corporation (DTCC), becoming the first tokenized platform accepted by the fund trading processing and distribution network. Oasis Pro Markets is a registered securities broker-dealer and tokenized investment product distributor in the United States.Fund/SERV currently processes over 85% of mutual fund trading activities in the U.S. This integration will pave the way for Ondo's tokenized funds to enter the traditional fund distribution system, allowing Oasis Pro Markets to conduct transactions with fund companies, wealth management platforms, and service providers through a single standardized connection, without the need to establish customized interfaces for each fund.The related infrastructure supports account-level data transmission, trade confirmations, reconciliations, fund distributions, tax reporting, and regulatory reporting. Ondo stated that this will establish critical infrastructure for scaling tokenized funds and entering the mainstream market.

According to Bitcoin News, The Smarter Web Company plans to issue perpetual preferred shares under the stock code MORE, with a fundraising target of £15 million to £25 million, and a minimum fundraising scale of £10 million, with listing access requiring support from three market makers.Holders will receive cumulative weekly dividends and liquidation priority, but will not have voting rights, and the company may redeem shares. As of mid-2026, SWC holds 2,878 bitcoins; after the High Court approves the capital reduction, the company will have £132.5 million in distributable reserves for payments.

Bitcoin News posted on the X platform that CoinCorner has partnered with AnchorWatch to launch Vault, providing multi-institution Bitcoin custody services for UK customers, insured by Lloyd's of London.CoinCorner and AnchorWatch each hold keys, and neither party can independently transfer customers' Bitcoin. All Bitcoin deposits are insured.

According to The Defiant, the dispute between AMC Entertainment CEO Adam Aron and Robinhood over tokenized AMC stock has escalated into a debate among tokenized stock issuers about which model should become the industry standard.Gabriel Otte, co-founder of Dinari, criticized Robinhood's synthetic tokens with Ondo as "worse for end investors than regular stocks," while Uniswap founder Hayden Adams compared it to early stablecoins, stating that it meets users' demands for programmability and 24/7 trading.Currently, three models are competing in the $2.91 billion tokenized stock market: Robinhood's stock tokens are debt securities issued by a Jersey entity, available only to non-U.S. persons; Ondo, xStocks, and Dinari hold the underlying stocks through regulated intermediaries and pass on economic benefits; Securitize and Superstate directly put company-registered stocks on-chain. The U.S. SEC's Division of Corporation Finance has legally defined the three models as of January 28. Data from rwa.xyz shows that the total scale of tokenized stocks reaches $2.91 billion, with a 14.4% growth over 30 days, and Ondo leads with $869.6 million.Securitize CEO Carlos Domingo also supports Aron's position, stating that he does not wish for others to create offshore derivatives of company stocks. Brian Huang, co-founder of Glider, believes that the trading venue is more important than the packaging format, as AMMs cannot guarantee users the best execution.

Ondo Finance is urging U.S. regulators to bring the business of perpetual contracts anchored to individual stocks under regulation, asserting that this product can operate in compliance under the existing securities and futures framework without new rules. In three comment letters sent to the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) on August 24, Ondo stated that existing rules can accommodate stock perpetual futures while considering modern margin practices and on-chain listing data. Ondo mentioned that its affiliated company in Panama has been offering stablecoin-settled perpetual contracts anchored to U.S. stocks overseas, with a cumulative trading volume reaching $8 billion as of August 14 since its launch in June.Ondo believes that regular funding rate payments can keep perpetual contracts aligned with the underlying stock prices, functioning similarly to the expiration settlement of traditional futures. In the letter, Ondo stated that there are no provisions in the statutory definition of securities futures products that require a fixed expiration date to be set. The company also pointed out that many offshore perpetual contracts have underlying stocks primarily traded on U.S. exchanges, and bringing the related business back to the U.S. should be a direction actively promoted by both agencies. According to RWA.xyz data, Ondo is one of the largest managers in the tokenized real-world assets (RWA) space, with an allocated value of approximately $2.6 billion as of Wednesday, ranking fourth.Ondo's proposal comes as U.S. regulators are re-examining the existing market rules for on-chain products, including perpetual contracts and tokenized securities. In March of this year, the SEC and CFTC signed a memorandum of understanding to coordinate regulation in overlapping areas of jurisdiction.

The parent company of Kraken, Payward, announced a partnership with the London Stock Exchange (LSE) to tokenize the stocks of the 100 largest companies listed on the LSE into xStocks, which are backed 1:1. The first London-listed xStocks are expected to be launched on Kraken and other platforms supporting the xStocks Alliance in the coming weeks, available to investors in over 110 countries, but not yet open to UK investors.Subject to regulatory approval, the LSE plans to list and support xStocks trading on its newly launched extended trading hours, LSE 24. LSE CEO Julia Hoggett stated that by collaborating with Payward and continuously working with the market infrastructure ecosystem, they are exploring how issuers and investors can benefit from new access methods while maintaining the standards that underpin the public market. In addition to tokenizing existing stocks, both parties will also explore the issuance of native equity tokens through LSE infrastructure, which have the same rights as traditional stocks and are fully interchangeable.Payward's tokenized stock framework was launched in June 2025 and acquired by Payward in December, having processed over $40 billion in total trading volume, covering more than 200,000 holders, with nearly $20 billion settled on-chain. According to RWA.xyz data, there are currently approximately $2.53 billion in existing tokenized stocks, with xStocks tokenizing about $606.6 million, making it the second-largest issuer after Ondo.

The London Stock Exchange (LSEG) and Payward, the parent company of the cryptocurrency exchange Kraken, announced a partnership to bring stocks of the largest listed companies in the UK onto the blockchain. In the coming weeks, the stocks of the top 100 companies listed on the LSE will be available on Payward's xStocks tokenized stock framework. These xStocks are tokens that correspond one-to-one with the underlying stocks, allowing for 24/7 trading on centralized exchanges, self-custody wallets, and on-chain applications.This initiative continues the rapidly expanding framework of Payward. Over the past year, the cumulative trading volume of xStocks has exceeded $40 billion, with nearly $20 billion settled on-chain, and more than 200,000 product holders. Through the blockchain channel, UK-listed stocks will be able to reach investor groups in over 110 countries, although xStocks are currently not available to domestic UK investors.Subject to regulatory approval, the LSE plans to list and support xStocks trading on its newly launched 24-hour trading platform, LSE 24, and will gradually cover tokenized stocks and more asset classes in the US, EU, UK, and Hong Kong. Both parties also stated that they will explore stock tokens issued natively by the LSE, allowing LSE members to issue and service stocks directly on-chain, with the same full interchangeability and rights as traditional stocks. Payward Co-CEO Arjun Sethi stated that for years, people have assumed that crypto and traditional finance must collide and one side would lose, but that has never been the real story;

The Hong Kong Securities and Futures Commission has listed Star Bridge Capital, Star Bridge Capital Group, SBCFX, Star Bridge Capital Group, Star Bridge Capital Pty Limited, and Topical Wealth International Ltd as unlicensed companies, prohibiting them from engaging in any regulated activities in Hong Kong or actively promoting their services to the public in Hong Kong (whether within or outside Hong Kong).Previously, it was reported that Star Bridge Capital experienced an abnormal liquidation incident in London gold trading, and after the incident, the Hong Kong office of the platform was empty. Due to some funds being deposited through USDT stablecoin, tracking the funds has become more difficult. The Hong Kong police have accepted the case and temporarily classified it as fraud, but no arrests have been made yet.

Ondo Finance announces the latest progress in its ecosystem. The newly launched Ondo Perps open contracts have surpassed $100 million, continuing to grow steadily since their launch in July, with particularly strong recent performance.According to DefiLlama data, Ondo Perps has entered the top three RWA perpetual contract platforms. Meanwhile, the cumulative number of holders for Ondo Stocks has exceeded 270,000, with less than a year until its launch in September 2025, primarily driven by new participants. All tokens are fully backed by corresponding stocks or ETFs and are held by licensed U.S. custodial brokerages.