Tokenised-asset specialist Ondo Finance is considering an acquisition valued at $250 million to $500 million, Coindesk reported on Wednesday, citing a source familiar with the matter.
The report said Ondo Finance is reviewing targets across several areas, including wealthtech. The source said it has not yet selected an official adviser.
Founded in 2021 by former Goldman Sachs executives, Ondo Finance is a tokenisation platform that helps move traditional financial assets on-chain. It has issued tokenised U.S. Treasuries and stocks and has established itself as one of the largest real-world asset tokenisation companies.
In an email response to Coindesk, an Ondo Finance official said the fast-growing company regularly reviews the market as part of routine management activities and is not negotiating with any party.
Since its founding, Ondo Finance has raised $24 million in venture investment and secured about $10 million more through a public sale of the ONDO token.
Chi-gyu Hwang
delight@d-today.co.kr