Ondo Finance has achieved a significant milestone by reaching $1.01 billion in total value locked (TVL) for its tokenized stock platform, marking a substantial increase from the previously reported $1.02 billion. According to latest data from AMBCrypto, the platform's growth is driven by expanding participation rather than capital accumulation, with the number of holders doubling to 1.33 million within thirty days. The platform's total monthly transfer volume jumped by 194% to $23.49 billion, while active addresses increased by 41.6% to almost 601,000, indicating increased trading activity and broader market participation in tokenized securities.
Saturn has entered into a strategic partnership with Ondo to integrate tokenized securities into its STRC-based products while securing an undisclosed strategic investment from the tokenization company. According to reports from Saturn, the agreement will bring Ondo's institutional-grade tokenized assets into structured products built around Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock, which trades on Nasdaq under the STRC ticker. The partnership represents a significant expansion of tokenized financial products in the digital asset space, marking the first Ondo-issued asset in Saturn's structured offerings.
Under the first planned integration, STRCon will become the first Ondo-issued security introduced into Saturn's sUSDat product. As reported by Saturn, STRCon is Ondo's tokenized version of STRC and provides economic exposure to the preferred stock through blockchain-based infrastructure. The tokenized security tracks the economic performance of Strategy's preferred shares but does not give token holders direct ownership of the stock. Ondo uses the 'on' suffix for securities issued through its tokenization platform, making STRCon a direct tokenized equivalent of the underlying STRC product.
STRC currently carries a 12% variable annualized dividend rate and maintains a $100 stated amount. According to previous reports, Strategy introduced STRC in July 2025 with an initial annualized dividend rate of 9%, which was subsequently increased to 12% for dividend periods beginning in July 2026. The company retained the same rate for August even though the preferred stock finished July more than 10% below its stated amount. Strategy evaluates the payout using STRC's trading price, market yields, credit spreads, Bitcoin's price and volatility, its U.S. dollar reserve, capital-market conditions, and the company's capital structure.
Ondo maintains its position as the leader in tokenized equities by asset value, backed by $1.01 billion in TVL and $27 billion in cumulative trading volume. However, Binance has emerged as the dominant player in off-hours trading, capturing 94.4% of all combined weekend trading volumes and averaging 92.8% of all combined weekend trading volumes during approximately 350 weekend hours. This concentration coincided with bStocks surpassing $500 million in assets under management and recording over $2 billion during one weekend. The divergence between asset-based leadership and trading-volume dominance highlights the evolving dynamics in the tokenized securities market, with Ondo leading in absolute asset value while Binance dominates liquidity access.
