Inside Digital Assets - Tokenization, Digital Assets and new market infrastructures

Tokenized stocks and ETFs: Ian de Bode (Ondo) on What’s Next [EN]


Listen Later

Tokenized securities: access, collateral, settlement—and what it takes for institutional adoption

Episode 3: Tokenized stocks and ETFs

In this episode of Inside Digital Assets, host Lidia Kurt speaks with Ian de Bode, President of Ondo Finance, about the partnership with BX Digital and what it takes to bring public market assets (U.S. stocks, ETFs, and U.S. Treasuries) on-chain at scale, with credible price discovery and an investor-grade market structure.

They explore why tokenization is increasingly starting with highly liquid asset classes, how TradFi liquidity can be bridged into crypto-native environments, and what needs to happen before institutions adopt tokenized securities beyond early pilots.

What you’ll learn in this episode:

Why liquidity comes first - Tokenization isn’t only about “fractionalizing” illiquid assets. For on-chain markets to work, you need tight pricing, deep liquidity, and reliable subscriptions/ redemptions, which is why public equities and Treasuries are a logical starting point.

Tokenization as a technology upgrade - From physical certificates → electronic registries → tokenized rails: tokenization is framed as the next infrastructure layer for capital markets, especially where settlement, cross-border transfer, and interoperability still lag.

From trading efficiency to settlement efficiency - Traditional markets excel at price discovery during trading hours, but settlement remains comparatively slow and fragmented. Tokenization can improve this by changing the “rails” behind the market.

Key discussion highlights:

  • Ian’s journey from McKinsey to building in tokenization (starting with Ethereum in 2016)
  • Why “seamless access + on-chain collateral utility” are the two dominant use cases
  • Why tokenized markets need strong price discovery to avoid excessive collateral haircuts
  • What’s different about an RFQ / intent-based execution model and why it challenges on-chain conventions
  • Who’s buying tokenized stocks today:

    • Retail users in markets with limited access
    • Crypto-native whales consolidating portfolios and trading between crypto and equities
    • What could accelerate institutional adoption:

      • 24/7 subscriptions and redemptions
      • Tokenized deposits and improved TradFi rails
      • Greater awareness of what is already possible today
      • Guest: Ian de Bode, President of Ondo Finance

        Host: Lidia Kurt, CEO, BX Digital and Seturion

        About the podcast: Inside Digital Assets is a podcast about the future of capital markets, tokenization, digital assets and the technologies that power them.

        If you enjoyed this episode, subscribe to Inside Digital Assets and share it with colleagues interested in tokenization, market infrastructure, and the future of post-trade.

        A joint project by BX Digital and Seturion.

        ...more
        View all episodesView all episodes
        Download on the App Store

        Inside Digital Assets - Tokenization, Digital Assets and new market infrastructuresBy BX Digital und Seturion