Ondo Finance explores deal valued at up to $500 million

Ondo Finance explores deal valued at up to $500 million

Finance

Ondo Finance weighs acquisition worth up to $500 million

The tokenized-assets firm is considering an acquisition valued at $250 million to $500 million as consolidation accelerates across crypto infrastructure.

By

Will Canny

|

Edited by

Sheldon Reback

Jul 30, 2026, 4:04 p.m.

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Ondo Finance eyes acquisition worth up to $500 million. (Frederick Warren/Unsplash)

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Ondo Finance is evaluating a potential $250 million-$500 million acquisition, according to a person with knowledge of the matter.

Formal advisers have not been appointed, the person said, as the tokenized-assets firm weighs expansion through M&A.

Crypto dealmaking remains robust in 2026, with tokenization and institutional infrastructure among the hottest acquisition targets as firms seek scale.

Tokenized asset specialist Ondo Finance is evaluating a potential acquisition of between $250 million and $500 million, according to a person with knowledge of the matter.

The New York-based company is considering wealthtech targets, among other subsectors, said the person, who spoke on condition of anonymity because the matter is private.

Ondo has not yet appointed any formal advisers, the person said.

Founded in 2021 by former Goldman Sachs executives, Ondo Finance is a tokenization platform that brings traditional financial assets onchain. The company issues tokenized U.S. Treasuries and stocks and has become one of the largest providers of tokenized real-world assets, with more than

$2.5 billion across its products

.

“As a fast-growing company, Ondo regularly evaluates the market as part of normal business operations. We are not in conversations with any party at this time,” an Ondo representative said in emailed comments to CoinDesk.

Crypto dealmaking has remained strong in 2026 as traditional financial firms and larger digital-asset companies use acquisitions to add licenses, technology and distribution.

The sector recorded 89 transactions worth $3.2 billion in the first quarter, followed by $12.9 billion of disclosed deal value in the second, the second-highest quarterly total on record, according to Architect Partners. Payments, stablecoins, custody, tokenization and institutional trading infrastructure have emerged as key targets as companies seek scale and a wider range of product offerings.

Recent transactions include

Keyrock's acquisition of BlockFills'

trading and brokerage assets, Kraken's $550 million purchase of

Bitnomial

, and CoinDesk owner Bullish buying investment platform

Equiniti for $4.2 billion

.

Ondo has raised just $24 million in venture funding since its founding, supplemented by a roughly $10 million public ONDO token sale. This makes it one of crypto's most capital-efficient infrastructure companies despite managing billions of dollars in tokenized assets.

ONDO was trading 6% higher over 24 hours, around $0.42 at publication time.

Read more:

Crypto market maker B2C2 held sale talks with multiple potential buyers

mergers and acquisitions

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